MoMo Agent-How to Make Cardless Transactions

MoMo Agent-How to Make Cardless Transactions

Do you want to learn more about the Momo Agent? Would you like to become one and make some side cash for yourself? Do you also want to know how you can send and receive money without having to use an ATM card?

This blog post was specially created with you in mind. Everything you need to know about MoMo Agent is in this blog post.

You may be wondering, “Who is a MoMo agent?” Keep reading, as we will answer all of the questions running through your mind.

In this blog post, we will be giving you detailed information about this, including how you can locate one close to you, how you can send and make cardless cash withdrawals and deposits, and finally, how you can become one.

Who is a MoMo Agent?

First things first, the abbreviation MoMo stands for “Mobile Money.”

A MoMo agent is one (be it an individual or an organization) that provides mobile money services and financial transactions.

Basically, it is a neighborhood business shop where you can go to send and receive money. You can also make other financial transactions such as bill payments, airtime purchases, and data purchases. You can access a MoMo agent from anywhere in Nigeria.

The CBN (Central Bank of Nigeria) granted the MTN organization permission to provide mobile money services to the general public. So, MTN provides Mobile Money (MoMo) services via the Mobile Money agent (MoMo agent) in different parts of Nigeria. MoMo is an initiative by YDSF, an MTN subsidiary.

Below are some of the financial transactions and money services you can perform via the MTN MoMo agent. 

1. Making Cardless cash withdrawals–without an ATM card or bank account

2. Make Deposits/ money transfers

3. Payment of bills

 4. Purchase of airtime and data

Moving further, below is a brief overview of MoMo Agent and how it came to be.

Overview of MTN Mobile Money (MoMo)

MTN’s subsidiary, YDFS (Yello Digital Financial Services), is a financial service provider currently engaging in agency banking and super-agent operations.

Among other services, YDFS offers an agent network to support financial institutions and mobile money providers in Nigeria. It is licensed under the CBN Super-Agent framework and agent banking rules and has been given permission to offer money services.

In May 2022, following the Central Bank of Nigeria’s final permission for a Payment Service Bank (PSB), MoMo PSB officially began operations. The PSB is not like the physical bank we all know; it’s quite different from that.

Payment Service Bank is a corporation that has been given permission to use technology and agency banking to mobilize deposits. It also facilitates transfers from unbanked customers in rural areas and any other place in Nigeria where they exist. 

This means that technology-driven businesses now have permission to carry out banking operations. Banking operations such as savings, deposits, and withdrawals, in remote areas or other places with few banking facilities.

MTN also launched the MoMo agent as a method to assist small business owners in running their enterprises while also earning extra money.

What makes this fascinating is this:

MoMo Agent has made it easy for users to easily make financial transactions without the need for a bank account.

Customers can easily transfer, receive, and deposit cash without having to visit their banks or stand in long queues, unlike the conventional banking system. Customers can now make withdrawals and deposits without an ATM Card.

MoMo does not require the agent or the consumer to have a valid bank account. Unlike many other banking systems such as FirstMonie, OPay, and Paga. You can receive and send money without the use of BVNs, passports, or even the need to open a bank account.

You might be wondering how this is even possible and how one might complete all of these tasks without a bank account. The next section shows you how MoMo works.

How MoMo Works and its Benefits

Just in case you have been wondering how it is even possible to do all of this without a bank account or an ATM card, wonder no more.

Just before we talk about how MoMo works, let’s quickly show you the benefits of using MoMo services. You can use these services either as a MoMo agent or as a customer.

1. To get the best of what MoMo has to offer, you have to be an MTN subscriber. This point is very crucial, as MTN MoMo services only work for MTN subscribers whether you are a customer or a MoMo agent.

2. As a MoMo Agent, there is no need to think about your location and how you can be located. There is a MoMo agent code for tracking the locations of all MoMo agents anywhere in Nigeria.

3. Also, as a MoMo agent, you don’t have to wait for the month to end to get your commission. You get to receive a real-time commission for every transaction you make. You get to receive your commission instantly after each transaction.

Note: You can use MTN MoMo services and become a Momo agent with your valid MTN phone number. Using an MTN number, you can access the MoMo service, which is exclusively accessible on the MTN network.

How To Send/ Receive Money via MoMo Agent

Seeing all of these benefits listed above, let’s move forward to how you can send and receive money with the MoMo agent. Sending money to anyone in any part of Nigeria is now easy. 

Without a debit card, you can safely and easily take money from your account with MoMo Agent Cash withdrawal services

Note: All Nigerian banks have access to this service.

How to send Money

Here is how you can receive money via a MoMo agent.

1. Make  sure you have the available money you want to send in Cash

2. You need to locate a MoMo agent close to you

3. To locate a MoMo agent, you can use the MoMo Agent Code

Using The MoMo Agent USSD Code
Using The MoMo Agent USSD Code

  • Dial *223#
  • You will receive an on-screen message, asking you to type in your state name
  • You will be asked again to enter the LGA or Area or Town or City
  • You will be presented with a menu of options from different areas
  • Simply select your Area 
    Using The MoMo Agent USSD Code
  • After this, you will be notified via an SMS with a list of all the available MoMo agents close to you.
  • The addresses and phone numbers of these MoMo agents will be sent to you as a text message.

4. When you have successfully located one, provide the agent with the cash and the receiver’s phone number.

5. You will receive a 6-digit control number once the agent has completed the transaction. The recipient of the money will also receive a second set of six(6) digits.

6. Share your six-digit control number with the recipient of the funds.

7. Tell the receiver to find the nearest agent and use the six(6)-digit control number to collect the money.

How to Receive Money

Here is how to receive Money and make Cardless cash withdrawals

1. Locate the nearest MoMo agent to you

2. Show the sender’s 6-digit control number and the 6-digit control number that was sent to you.

3. Give the agent your own six-digit number.

4. Give the agent the six-digit number by the sender

5. After that, you can obtain money from the agent

How to Purchase Airtime and Data

You can also utilize MTN MoMo agents to easily purchase airtime. Buying airtime or data is simple. Give your phone number and the amount of cash, and you’re set to go.

How to Make Bill Payments?

Simply dial the MoMo agent code *223# to locate the nearest to you and pay all your bills.

You can see how easy all this is, right? Do you know how to become an agent in the same way? Yes, the same easy process applies when signing up.

How to Become a MoMo Agent

Do you wish to become a MoMo agent and make some extra cash for yourself?

Before becoming one, there are steps and requirements that you need to meet that can make you qualified to become one.

Below are the steps you need to take:

1. First of all, you need to make sure you meet the requirements

Below are the requirements:

  • You must own a firm already or be eager to invest in the agency business.
  • Possess a brick-and-mortar or immovable retail space, such as a pharmacy pop-up shop, that is situated in a busy area.
  • You must have a valid form of identity (such as a passport, driver’s license, national ID, or voter card).
  • Be willing to supply a single passport photo.
  • You should have the ability to offer working capital of at least N20,000.

Once you affirm that you have met all of these requirements, you can move ahead to the next step.

2. Pick up a form from the nearest MTN outlet and fill it out with your information.

3. For a prearranged visit to determine your suitability, MTN’s field personnel will get in touch with you.

How to Create a MoMo agent Wallet by Yourself

You can easily become a Momo agent and create your MoMo agent wallet all by yourself. With just your valid MTN number, you can onboard yourself as a Momo agent. This is how you can do this:
Create a MoMo agent Wallet by Yourself

1. Start by dialing *502#

2. You will be asked to approve your MTN SIM registration information so that it may be used as your MoMo wallet ID KYC.

3. Go with option 1 –Yes, to agree to the T&C and want to move on to the next phase.

4. As prompted, create your 4-digit PIN.

5. Verify your PIN’s four digits by entering it again

6. With just these steps, you now have a new MoMo Agent wallet.

You receive USSD and SMS notifications that your new MoMo Agent wallet has been created.


In this blog post, we covered most of all you need to know about the MoMo agent. We showed you how you can send and receive money. Not only that, but we also gave you details on how you can become a MoMo agent and make some extra side cash for yourself.

Do well to reach us via the comment section, for all comments, suggestions, and questions relating to this topic.

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Written by Stephanie