Moniepoint Resumes Onboarding, Set To Enrich Millions Of Nigerians

Moniepoint MFB, Africa’s fastest-growing financial institution according to the Financial Times, has relaunched its personal banking referral programme to help customers share the Moniepoint experience with family and friends.

The referral programme is intended to reward users whenever their friends or family make a transaction on Moniepoint after signing up using their referral link. Millions of people will earn much more than N100,000 from referrals alone.

Moniepoint’s technology has powered over 3 million businesses in Nigeria, and with its dependable infrastructure now in the hands of individual users, it now enables seamless payments for many across the country. With referrals linked to transfers, a popular payment method in Nigeria, this referral programme will generate extra income for many of its users.

Babatunde Olofin, Managing Director of Moniepoint MfB, commented on the development, stating that the customer-centric referral programme supports the bank’s focus on driving financial inclusion while also accelerating its vision of creating a society where everyone experiences financial happiness.

“We understand the importance of seamless financial transactions, and we have seen firsthand the power of peer-to-peer recommendations and word-of-mouth referrals in growing a customer base and increasing revenue. Given our strong customer obsession and the numerous commendations we have received that validate the work we do in providing peerless financial services, we want to reward our customers while they continue to share their positive experiences with the Moniepoint brand,” Olofin stated.

Each current and new personal account holder has been assigned a unique referral code that is identical to their account username and can be found in the Referral Section of the Personal Banking app. This code/link can be shared with anyone who signs up and uses the Moniepoint Personal Banking app, thereby contributing to the referrer’s rewards.

Participants will receive a commission for each outward interbank transaction conducted by referred customers within the next 12 months. This clear and straightforward incentive structure ensures that participants receive tangible rewards for actively promoting the Moniepoint Personal Banking app. Referrers can also track their referral’s total earnings and referral history in the app’s “Earn from Referrals” icon, and earnings can be transferred to the user’s main account after earning a minimum of N50.

Moniepoint MFB has been working with the Central Bank of Nigeria to improve banking industry security over the last month, putting its onboarding on hold. It has resumed user registration with a commitment to providing a secure, convenient, and rewarding financial experience. The referral programme is just one of the many ways the company is using innovation to empower Nigerians and increase access to financial services.

It should be noted that Moniepoint MFB has demonstrated unparalleled commitment to customer focus and satisfaction in recent months, as evidenced by the opening of its Lekki Admiralty Road office and the rollout of a USSD code, *5573#, which provides users with a fast, secure, and user-friendly platform to conduct banking activities with ease.

According to media reports, Moniepoint Inc. currently processes the majority of POS transactions in Nigeria through its subsidiaries, with an annualised TPV of over $182 billion. As a profitable enterprise, it is Africa’s largest fintech by transaction volume.