How profitable is mobile money business in Uganda is a question many seek answers for. Customers are interested in understanding the associated money charges for transfers versus withdraws while on the other hand, those seeking to become mobile money agents want to know the commission breakdown for transactions.
With MTN mobile money being one of the giants in the world of money transfers in Uganda, those who want to become their agents can easily access the commission breakdown on their portal for a clear guide.
Also read: How To Do UBA Visa Card Verification
Money mobile business in Uganda is very profitable to those who are situated in busy places due to the fact that they perform a lot of transactions including both deposits, withdraws and transfers (sending). On the other hand, those with less clients can suffer from low profits since commission determined by the number of transactions.
New MTN mobile money agent commission breakdown
|500 – 2,500||5% of value transacted||100|
|2,501 – 5,000||125||125|
|5,001 – 15,000||150||200|
|15,001 – 30,000||200||300|
|30,001 – 45,000||250||400|
|45,001 – 60,000||300||500|
|60,001 – 125,000||350||650|
|125,001 – 250,000||450||1,100|
|250,001 – 500,000||800||2,200|
|500,001 – 1,000,000||1,500||4,400|
|1,000,001 – 2,000,000||2,750||6,600|
|2,000,001 – 4,000,000||5,000||11,000|
|4,000,001 – 7,000,000||10,000||15,000|
New MTN Mobile money charges
|Sending Money||Making Payments||Withdraw Cash|
|To MTN||To Other Networks||To East Africa||To Azam TV, Ready Pay, School Fees, Solar Now||To UMEME, NWSC, DStv, StarTimes, NSSF, Multiplex||From Agent||From ATM|
|500 – 2,500||100||300||1,000||110||190||350|
|2,501 – 5,000||300||600||1,150||150||600||480||1,150|
|5,001 – 15,000||900||1,200||1,400||550||1,000||770||1,150|
|15,001 – 30,000||1,000||1,500||1,650||650||1,600||970||1,150|
|30,001 – 45,000||1,100||1,500||1,950||750||2,100||1,350||1,400|
|45,001 – 60,000||1,100||1,500||2,250||850||2,800||1,650||1,400|
|60,001 – 125,000||1,650||2,500||3,200||950||3,700||2,150||2,150|
|125,001 – 250,000||1,650||3,500||5,000||1,050||4,150||3,950||4,000|
|250,001 – 500,000||1,650||7,000||9,050||1,300||5,300||7,700||6,650|
|500,001 – 1,000,000||2,200||10,000||17,200||3,350||6,300||13,750||11,950|
If you have made up your mind and decided to become money transfer agent, the above information should be helpful to you. Yes, you are able to predict how much you will likely make as per commission breakdown above.
Also, the transaction charges table above shows the amount of money versus the costs of transacting it where by if you are limited to little capital, you will likely miss out on the big earnings just like you can see that the higher the transaction amount, the much you get as commission.
Note: Transaction charges and commission breakdown above are subject to change from time to time. You can always refer to MTN’s website for an up to date fees.