Scribd Logo
Upload

Welcome to Scribd!

  • 4 views

    Agent Requirment (00000003) Bello

    Uploaded by

    excitebikaz

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd

    Agent Requirment (00000003) Bello

    Uploaded by

    excitebikaz
    4 views4 pages

    Original Title

    Agent Requirment (00000003)Bello

    Copyright

    © © All Rights Reserved

    Available Formats

    PPT, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    4 views4 pages

    Agent Requirment (00000003) Bello

    Uploaded by

    excitebikaz

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    of 4

    Agent Requirement

    Mandatory Documentation
    Potential agents must present copies of the documents below. The original documents MUST be viewed
    for verification at the time of handling in the application. This is as stipulated by the Central Bank
    of Nigeria (CBN) regulatory framework

    Cooperate
    Certificate of Incorporation
    Memorandum and Articles of Association (MEMART)
    Letter of authorization from the board
    Form of Identification for principal contact
    Utility Bill
    2 Passport photographs

    Individual
    Form of Identification for principal contact
    Utility Bill
    2 Passport photographs

    Think payments, think fets


    Agent Requirement Cont’d… for retail

    Office Requirements

    The Agent location must have the following equipment to ensure that operations are conducted in a
    professional manner:

    1)A mobile phone. (Smart phone preferably)


    2)Internet connectivity on the mobile phone.
    3)At least 1 person to handle office operations on a day to day basis
    4)1 printer (not compulsory)
    5)An official e-mail address
    6)Other equipment necessary to conduct the business like desks, chairs and stationeries

    Cash Investment

    Minimum of 30,000

    Think payments, think fets


    Agent commission structure

    Txn Amt
    SN Agent Txn Fee Agent Comm
    min max
    1 Agent sign up NA
    2 Agent Sign up fets Customer NA NA FREE NA
    3 Agent funds account via card NA NA FREE NA
    4 Agent deposit into fets account NA NA FREE NA

    - 30,000.00 NGN 0.00


    5 Agent Cash-In 0.1% Cap NGN 100.00
    30,001.00 100,000.00 NGN 0.00
    100,001.00 1,000,000.00 NGN 0.00
    - 30,000.00 NGN 100.00
    6 Agent Cash-Out 30,001.00 100,000.00 NGN 125.00 30% of Txn Fee
    100,001.00 1,000,000.00 NGN 150.00
    500.00 9,999.00 NGN 150.00 60
    10,000.00 49,999.00 NGN 200.00 80
    7 Money transfer 50,000.00 99,999.00 NGN 300.00 120
    100,000.00 199,999.00 NGN 500.00 200
    200,000.00 500,000.00 NGN 900.00 360
    9 Bills payment 1 10000 NGN 55.00 40% of NGN 55.00
    10 Airtime 1 10000 3% 75% of 2.7% earned

    Think payments, think fets 19


    Key Steps to Enhancing your Agency Business

    • Must prepare for a marathon, not a sprint


    • Ensure you are never out of cash and e-money
    • Be on top of customer education
    • Train your assistants and shop attendants
    • Stick with regulations of the business
    • There is no ‘short cut’ in this business
    • Use the services yourself – accept it as a means of payment from your normal
    day-to-day customers

    Think payments, think fets

    You might also like