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MOMO
Merchant
Overview
From local markets to online stores, they leverage mobile money technology for secure and convenient transactions. Embracing this innovation broadens their customer base, enhances convenience, and fosters digital economy growth.
How To Become A Merchant
Getting Started
Would you like to sign up your business to MTN MoMoPay?
Simply send an email to[email protected]with the following information and we will get in touch with you.
- Your name
- Name of your business
- Contact number
- Location
or email[email protected], call 100 or Visit the nearest MTN Service Centre
Benefits of MoMoPay
- Reduces risk of carrying cash.
- No issues of small change amounts.
- Additional revenue for Merchants who can earn commission by selling airtime or making payments for customers.
- Customers and merchants can deposit and withdraw funds from their bank accounts.
XtraStock
Welcome to Our Merchant XtraStock product.
Unlock Your Business’s Potential with Flexible Short-Term Financing
Running a business comes with its challenges, and managing inventory and cash flow is one of the most critical. Our Merchant XtraStock product is designed to provide you with the financial flexibility you need to keep your operations running smoothly, seize new opportunities, and cover unexpected expenses.
What is a Merchant XtraStock?
A merchant XtraStock is a product designed specifically for MTN MoMoPay merchants, to provide short-term working capital. This product allows merchants to complete a merchant-to-merchant transaction (purchase additional stock) even with insufficient funds in their merchant accounts.
Key Features
- Flexible Credit Limits: Access funds up to a predetermined limit (between UGX 200,000 and UGX 5,000,000) tailored to your business needs.
- Competitive Interest Rates: Pay interest only on the XtraStock amount utilized, with rates designed to be affordable.
- Quick and Easy Access: Immediate access to funds to cover stock purchase and inventory management.
- Simple Repayment Terms: Repay through future sales or regular deposits with flexible terms that suit your cash flow.
Benefits of a Merchant XtraStock
- Instant. Instant merchant XtraStock loan approval and utilization of limits within a merchant transaction.
- Convenient. Access your overdraft limit anytime, anywhere without waiting for official working hours.
- Competitive rates. A merchant will enjoy competitive interest rates of upto 2% per XtraStock amount.
- Boost Business Growth: Merchants enjoy higher limits of upto UGX 5,000,000 within which they can stock-up thus enabling them to serve more customers and support business growth.
How It Works
- Sign up for the service. Dial *155*4#, select XtraStock and accept the terms and conditions.
- Get Approved: Instant approval process and if approved, you’ll get immediate access to your overdraft limit.
- Access Funds: Utilise your limits during a merchant to merchant (stock purchase) when purchasing more stock with insufficient funds in your merchant wallet.
- Repay Flexibly: Repay through future sales or regular deposits with terms that match your cash flow.
Wezimbe Business Loans with MTN MoMo
Introduction:
Wezimbe Business Loans, a collaborative effort by MTN MoMo and Asante Financial Services, is designed to offer collateral-free micro loans tailored for merchants. It redefines financial accessibility with competitive interest rates, making it a standout option compared to traditional banks, MFBs, and money lenders.
About:
Wezimbe Business Loans is an innovative financial service enabling merchants to apply for loans using their mobile phones within minutes. With no need for cumbersome paperwork or collateral, merchants can access funds directly into their business without leaving their premises, courtesy of MTN MoMo and Asante Financial Services.
| Loan Tenor | 1 Day | 7 Day | 21 Day |
| Facility Fee – (charged once at disbursem*nt) | 0.5% | 2.5% | 6.5% |
| Rollover Fee | 0.5% | 1.5% Flat | 2.5% Flat |
| Rollover Duration | 1 Day | 3 Days | 5 Days |
| Loan Limits | Minimum UGX 50,000 Maximum UGX 4,000,000 | Minimum UGX 500,000 Maximum UGX 6,000,000 | Minimum UGX 500,000 Maximum UGX 10,000,000 |
Features:
- Instant Access: Apply for loans instantly by dialing *155*33## or through the user-friendly MoMo App.
- Quick approval and direct credit to your MoMo account.
- Choose flexible repayment options tailored to your convenience.
- Utilize the loan for various MoMo services like merchant-to-merchant transaction through making payment to your suppliers and covering operation costs i.e paying bills and employee renumerations.
- Request multiple loans within your credit limit after timely repayments.
Benefits:
- Higher limits. Merchants will enjoy upto 10m of credit limit depending on their MoMo utilization and merchant transaction turn over.
- Competitive interest rates surpassing traditional lenders. Merchant loans are charged as low as 0.5% and maximum of 6.5%.
- 24/7 Accessibility: No branch visits, queues, or paperwork hassles.
- Instant funds credited directly to your MoMo wallet.
- Convenient access through *155*33# or the MoMo App.
- Security and reliability integrated into the platform.
How to Get Started:
Follow these steps to access Wezimbe Business loans via MTN MoMo:
- Dial *155*33# to review and accept the terms and conditions.
- Enter your MoMo PIN to start your application.
- Receive confirmation in seconds and select your preferred loan options and fees.
- Upon approval, your loan will instantly reflect in your MoMo wallet.
Other Features of Wezimbe Business Loan:
- Repay your loan partially for as low as UGX 500.
- Check your loan limit using *155*33#.
- Close your loan account after clearing the outstanding balance.
Wezimbe Business loans are powered by MTN MoMo in partnership with Asante Financial Services, dedicated to enhancing financial inclusion for Uganda’s micro and small business owners.
