Introduction: The Growing Demand for MoMo Agents
With the increasing demand for accessible financial services, MTN’s Mobile Money (MoMo) initiative, managed by Yello Digital Financial Services (YDFS), offers a solution. Becoming a MoMo Agent enables individuals to provide essential financial services like money transfers, deposits, airtime sales, and utility bill payments.
If you’re looking to start a lucrative side hustle or expand your existing business, this guide will walk you through how to become a MoMo agent, the requirements, registration process, and the benefits.
Table of Contents
Who is a MoMo Agent?
A MoMo Agent is an individual or business registered under YDFS to offer financial services in their neighborhood or community. Equipped with a POS terminal or mobile wallet, MoMo agents bridge the gap between traditional banking and financial inclusion by offering:
- Money transfers and deposits.
- Airtime and data sales.
- Utility bill payments.
With a permanent store location, valid ID, and basic working capital, anyone can become a MoMO agent and join this growing network of financial service providers.
Related: Opay POS Charges 2025: Benefits & How to Apply
Requirements to Become a MoMo Agent
Before expressing interest to become a MoMo Agent, ensure you meet the following criteria:
- A Permanent Store Location: The shop must be immovable and located within your community.
- Valid Identification: Accepted forms include a national ID, driver’s license, international passport, or voter’s card.
- Working Capital: A minimum of ₦20,000 is required to perform transactions.
- One Passport Photograph.
- Proof of Existing Business: This applies if you’re adding MoMo services to an existing business.
How to Become a MoMo Agent: Step-by-Step Guide
Option 1: Visit the Nearest MTN Office
- Go to any MTN outlet or service center.
- Request and complete the MoMo Agent registration form.
- Submit your details, including a valid ID, passport photo, and proof of working capital.
Option 2: Register via USSD Code
- Dial ** 502#* on your MTN-registered SIM.
- Follow the prompts to approve your SIM registration details for the wallet.
- Accept the terms and conditions by sending ‘1’.
- Create a 4-digit PIN to secure your wallet.
- Confirm your PIN to complete the wallet setup.
Option 3: Download the Application Form Online
- Visit www.mtn.ng and download the MoMo Agent application form.
- Fill in the required details.
- Wait for an MTN field staff visit to verify your location and approve your registration.
How to Get a MoMo Wallet Code Number
Setting up a MoMo Wallet is crucial to becoming an agent. Here’s how:
- Dial ** 671#* on your MTN-registered SIM.
- Accept the ₦6.98 network charge to proceed.
- Create and confirm a 4-digit PIN.
- Authorize MTN to use your NIN details for registration.
Your MoMo Wallet number will be your mobile phone number without the first ‘0’. For example, 08012345678 becomes 8012345678.
How to Link Your MoMo Wallet to Your Bank Account
- Visit your bank branch and request to link your MoMo Wallet to your account.
- Provide your MoMo Wallet number and other necessary details.
- Confirm your 4-digit PIN.
- Once linked, you’ll receive an SMS confirmation.
Pro Tip: To transfer funds from your wallet to your bank account, dial ** *502#**, select financial services, and follow the prompts.
How to Fund Your MoMo Wallet
Option 1: Through Your Mobile Banking App
- Log in to your mobile banking app.
- Select “Transfer to Other Banks.”
- Choose Access Yello and Beta as the bank name.
- Enter your MoMo Wallet account number and amount to transfer.
- Confirm the transfer using your banking PIN.
Option 2: Visit a MoMo Agent
- Dial ** 223#* to locate a MoMo Agent near you.
- Provide your wallet account number and deposit cash with the agent.
- Confirm the funding by dialing ** 502#* and selecting “Balance/Commission.”
How to Locate a MoMo Agent
Finding a MoMo Agent is simple:
- Dial ** 223#* on your MTN SIM.
- Enter the first three letters of your state and Local Government Area (LGA).
- Receive an SMS with the nearest MoMo Agent’s contact details and address.
Key USSD Codes for MoMo Agents
| USSD Code | Function |
|---|---|
| ** 5020096#** | Add BVN |
| ** 5020097#** | Request Help |
| ** 5020095#** | Liquidate Commission |
| ** 5020094#** | Update Alternative Phone Number |
| ** 5026*Wallet PIN#** | View Wallet Balance |
| ** 50241Account Number#** | Deposit Money into Bank from MoMo Wallet |
FAQs: Become a MoMo Agent
1. What is a MoMo Agent?
A MoMo Agent is a registered individual or business offering financial services like transfers, deposits, and bill payments in partnership with MTN.
2. How do I open a MoMo Wallet account?
2. How do I open a MoMo Wallet account?
Dial *502#, accept the terms, and set up a 4-digit PIN to create a wallet. Alternatively, visit an MTN office or download the application form online.
3. What services can I provide as a MoMo Agent?
Money transfers and deposits.
Airtime and data sales.
Utility bill payments
4. How much capital is required to start?
You need at least ₦20,000 in working capital
Conclusion: Why You Should Become a MoMo Agent
Anyone can become a MoMo Agent and becoming one is an excellent opportunity to provide essential financial services while earning commissions. With a simple setup process, low capital requirement, and access to MTN’s extensive customer base, you can start a profitable venture that benefits your community.
Follow the steps in this guide to become a MoMo agent, register, fund your wallet, and begin serving customers seamlessly.
Call to Action
Start your journey as a MoMo Agent today! Register via ** *502#**, visit your nearest MTN office, or download the application form at www.mtn.ng.