MTN Mobile Money Merchant Commission In Ghana
Mobile money services have gained much popularity in Ghana and as we speak, many Ghanaians feel very safe transacting business on the various mobile money services.
The service was first introduced in Ghana by mobile telecommunications giant, Mobile Telecommunications Network (MTN).
Concentrating on MTN, there are numerous mobile money vendors and merchants scattered across the country, and due to how they are many, one may be tempted to consider the amount they make while going about their business.
We will be taking a look at the amount of money MTN mobile money merchants (commission) make so if you are at a crossroads as you are planning to become a merchant, then this article is a great fit for you.
Here is everything you would need to know about the MTN Mobile Money Merchant Commission In Ghana for 2022.
Who is an MTN Mobile Money Merchant?
When we say MTN mobile money merchants, we are referring to the persons who are available to offer mobile money services (withdrawals and deposits) using the MTN mobile money platforms. These persons are mostly seen in stores, kiosks, and others. One notable thing you identify about these persons is their MTN mobile money stickers.
In addition, An MTN Mobile Money agent is someone with accreditation from MTN Ghana to deliver mobile money transactions to subscribers, including money transfers, cash withdrawals, bill payments, and many others. At the end of the month, all Mobile money merchants are paid a commission from MTN.
Difference Between MTN Merchant And Agent
MoMo agents and MoMo merchants refer to the same thing. They are all authorized persons mandated to carry out some functions on behalf of MTN.
MTN Mobile Money Merchant Commission In Ghana
MTN Mobile Money Agent Commission In Ghana helps all MTN Mobile Money agents to gain some token at the end of the money to sort themselves.
As MTN Mobile Money merchant, your earnings as MoMo agent is based on commission, and not on salary from MTN Ghana. Thus, the more transaction you perform as an MTN Mobile Money agent, the more your agent commission will be.
MTN mobile money transactions come with great commissions to the merchants. As a merchant, you can be able to make an enormous amount of money and this is greatly dependent on your location. The transactions are divided into two. Transactions below GHC 50 and transactions above GHC 50.
For MTN mobile money transactions between GHC 50, a commission of GHC 0.5 is made by the merchant, so imagine making a hundred of such transactions in a day, then your commission will be capped at GHC 50.
For MTN mobile money transactions above GHC 50, a commission of 1% of the amount will go to the merchant. What this basically means is that the higher you make transactions, the higher your commission.
From the above calculation, an MTN mobile money merchant at a prime location can be raking over GHC 3000 as commissions in a month.
How To Become An MTN Mobile Money Merchant
It is simple to become a MoMo vendor. Simply follow the steps below to get started as a MoMo agent.
Procedure for Registration
- Dial *5051#. (Using the MTN subscriber line of the Business Owner)
- Choose Register and send.
- Send your request after selecting the region in which you intend to operate.
- An SMS will be sent to you with a reference number.
- Fill out the MoMo registration forms with the reference number you were given.
- MTN MoMo Agent will call and also inspect your location.
- For processing, you must complete and submit the following forms:
- Registration Form – Agent/Merchant Form – Must be filled out with company information, a copy of the business owner’s ID, and supporting documents: Certificate of Incorporation, Form 3/Form A/Form C, Business Registration Certificate, Certificate to Commence Business
As part of the MTN Mobile Money Merchant commission in Ghana, you can checkout our useful guide about How To Register As MTN Mobile Money Merchant In Ghana and also earn commission and make money with your MTN Mobile Money wallet for free.
Agent Account Handler – Details of the individual who will handle the account and must attach a copy of any valid photo ID to the form.
Authentication Questions – Only 10 of the 21 questions should be completed by the business owner.
Complete and sign the MTN MoMo Agent Engagement Agreement.
After receiving all relevant documents from the prospective Agent, the sim card will be processed within ten (10) working days.
In summary, the MTN Mobile Money Merchant Commission In Ghana is the best source all MTN Mobile Money merchant persons do make money from, and we have the necessary update for you here.