Are you looking for a fintech platform where you can enjoy seamless transactions without visiting a commercial bank? If you answer yes, then you will find Moniepoint a valuable service. In this blog post, I will tell you everything you need to know about Moniepoint, its features, how to create an account and log in, and how to become a Moniepoint POS agent.
About Moniepoint
Moniepoint is a financial technology (fintech) company offering a secure, fast, and convenient way to send and receive money in Nigeria. They have customer service that is easily accessible and available 24/7. Moniepoint’s services include cash withdrawal, deposit, and fund transfer.
Moniepoint Inc., previously known as TeamApt Inc., is a financial technology firm established in 2015 by Tosin Eniolorunda. The company’s primary mission is to offer various financial solutions to businesses.
CB Insights has recognized Moniepoint as one of the most potentially fruitful financial technology firms of 2022. Also, the Central Bank of Nigeria presented the Financial Inclusion Award to Moniepoint during the World Financial Inclusion Conference 2022 edition. Moniepoint took home this honor.
Benefits of Using Moniepoint
Using moniepoint for carrying out transactions comes with several benefits:
- Secure payments that protect you and your customers
- Get verified within a few minutes
- Open an account for free
- No hidden charges
- You have complete control over your account
- Round-the-clock business banking support
- Compatible with all cards
- Easy-to-use operating system
How to Create an Account with Moniepoint
Creating an account with Moniepoint is super easy. You can either install the moniepoint mobile app on your mobile device (I will talk about how and where you can download Moniepoint app subsequently) to get started or sign up through the website.
The steps are the same whether you are signing up via the app or through the moniepoint website. These are the four steps to creating a Moniepoint account.
Step 1: Provide Personal Information
The first step to creating a Moniepoint account is providing your details. These include email addresses and phone numbers, which will be verified through an OTP sent to the phone number you provided to get verified.
Step 2: Verification Process
You will be asked to choose a username and password and provide other necessary information such as your BVN (Bank Verification Number), KYC (Know Your Customer and sometimes Know Your Client) details, face recognition, and ID verification. If it is a business account you are creating, you will be asked to provide a business name, after which you will set up a PIN for managing your account.
Step 3: Fund your Accounts
After completing the verification process in step 2 above, you can fund your account to enjoy a seamless transaction.
How and Where to Download Moniepoint Mobile App
The Moniepoint mobile app can be downloaded from Google play store. The steps in downloading Moniepoint mobile app are outlined below:
- Open Google Play Store on your mobile device.
- Click the search bar at the top of the screen and type in “Moniepoint.”
- Click the search icon to start the search.
- Once the Moniepoint app appears in the search results, tap on it to open the app’s page.
- On the app page, tap on the “Install” button.
- Review the app permissions and tap on “Accept” to grant the necessary permissions.
- Wait for the app to complete the installation process
- Once the app is installed, tap on the “Open” button to launch the Moniepoint app.
That’s it! You have successfully downloaded and installed the Moniepoint mobile app from the Google Play Store.
How to Apply for Moniepoint Expense Card (or Atm Card)
The Moniepoint Expense or ATM the card application process is straightforward. Follow the five steps below to apply for a Moniepoint Expense card.
- Step 1: Create a Moniepoint Account (see steps in creating a Moniepoint account above)
- Step 2: Log in to your dashboard and go to the card menu on your Moniepoint mobile app.
- Step 3: Click the “Add New Card” button and follow the instructions.
- Step 4: Top your account with a minimum of N1,500 for the Expense Card. The N1,500 covers the card issuance fee, N1000, and N500 for the logistics fee. Your expense card will be delivered to your doorstep within 48 hours.
- Step 5: Collect your Card from the Delivery agent.
To successfully collect your expense card from the Moniepoint card delivery agent, you must present the card’s delivery code. Login to your account and click on the card menu to view the delivery code, which you will show to the delivery agent to collect your card.
How to Activate Moniepoint Expense Card
To activate your Moniepoint Expense card, follow the steps below.
- Step 1: Log in to your account and go to your dashboard.
- Step 3: At the top left corner, click on the three horizontal lines; a drop-down menu will appear; click on cards.
- Step 4: Click on activate
- After clicking “activate,” you will be asked to provide your card activation code which is the ten digits at the back of your Expense card.
- Step 5: Type in the card activation code
After typing in the card activation code, click continue. You will be directed to the next page, where you will be asked to provide the card pin you will use to authorize transactions using the Expense card.
- Step 6: Proceed
After confirming your Expense card transaction PIN, click “proceed” on the page that appears, and you will receive a notification message stating that the card activation was successful.
Moniepoint Pos: How to Become An Agent
Of all the POS services in Nigeria, Moniepoint POS stands out as one of the best. With Moniepoint POS, you can transfer money, get cash out, buy airtime, and more, all while making a profit with Moniepoint. The firm also boasts one of the finest networks in the area, so you won’t have to worry about the all-too-common problem of “bad network,” which is common in most POS terminals today.
Becoming a Moniepoint POS agent is easy. All you need is to provide the required personal information and follow the steps I will provide, and you are good to go. Here are the steps to becoming a Moniepoint POS agent:
- Visit Moniepoint’s official website at https://moniepoint.com/ng.
- Please fill out the registration form for Moniepoint agents and submit it.
- Confirm your email address and phone number; an agent will contact you within 48 hours of registration.
- The agent will guide you on what you need to do, after which you will be verified as a Moniepoint POS agent.
- Finally, log in to the Moniepoint POS dashboard to manage your account.
When applying to become a Moniepoint POS agent, you must have the following documents handy:
- Identity cards could be a National ID, Voters car, or any other nationally accepted card.
- Your bank verification number (BVN).
- House PHED bill.
- Your bank account number.
- A certified business license.
A Breakdown of Various Moniepoint POS Charges
The transaction fees charged by Moniepoint are among the lowest of any point-of-sale facilitators. The fees are calculated based on the volume of transactions rather than the kind of bank used, in contrast to most POS systems. To use any Nigerian bank, you’ll need to pay a flat fee of N20.
In addition, the fee for withdrawals up to N4,000 is just N6.2, albeit as the amount taken increases. When compared to many other POS suppliers, Moniepoint does not impose any additional bank fees beyond those already mentioned.
For bill payments and data, here is the breakdown of the various transaction charges.
- PHCN 2% commission
- 9Mobile 4.5% commission
- Airtel’s 4% commission
- Glo 4% commission
- DSTv 2% commission
- GOTv 2% commission
- MTN 3% commission
- For TV Subscription
- Star Times 2% commission
Moniepoint Customer Care Contact Information
For any further information or query, you can contact Moniepoint customer support through the following medium:
Email: support@moniepoint.com
Phone: +234 814 150 0017 (Whatsapp only)
Facebook: https://web.facebook.com/Moniepoint/
Office Address: 2 Wole Ariyo St, Lekki Phase 1, Lagos, Nigeria.
Instagram: https://www.instagram.com/moniepoint/
Twitter: https://twitter.com/moniepoint
Frequently Asked Questions
What are Moniepoint charges?
For every withdrawal from N1 to N20,000, Moniepoint POS charges 0.5%. That is, for every N20,0000 you withdraw through Moniepoint POS, you will be charged N100, which is very low compared to other POS facilitators.
How much is the Moniepoint POS machine in Nigeria?
The cost of purchasing a Moniepoint POS machine in Nigeria is N21,500.
Is Moniepoint Safe?
Yes, Moniepoint is safe. The platform employs several security features to ensure its users’ transactions are safe and secure.
How Long Does it Take to Complete a Transaction on Moniepoint?
Transactions on Moniepoint are fast and smooth.
Can I use Moniepoint to send money Internationally?
No, Moniepoint only offers domestic money transfer services.
Final Wrap Up
Moniepoint is a reliable and cost-effective way to send and receive money in Nigeria. Its availability, ease of use, security features, and low transaction fees make it a popular choice for many Nigerians.
This blog post has helped explain what Moniepoint is, its features, and how to create an account with Moniepoint. If you have further questions about Moniepoint, don’t hesitate to contact their customer support.
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