In the news:
- Moniepoint MFB has introduced a revamped referral programme for its personal banking service, designed to reward users for referrals.
- The bank has resumed onboarding after enhancing security measures with the Central Bank of Nigeria.
- The initiatives aim to enhance financial inclusion and provide additional income opportunities for users, aligning with the bank’s vision of financial happiness for all.
Moniepoint MFB, Africa’s fastest-growing financial institution according to the Financial Times, has relaunched its personal banking referral programme to enrich its customers as they enjoy the Moniepoint experience with family and friends.
The company said in a statement that the referral programme is designed to reward users every time their friends or family perform a transaction on Moniepoint after signing up with their referral link, adding that through this, millions of people will earn well over N100,000 from referrals alone.
Moniepoint’s technology has powered over 3 million businesses across Nigeria, and with its reliable infrastructure now in the hands of personal users, it enables seamless payments for many across the country.
Digital TimesNG understands that with referrals linked to transfers, a leading payment method for many in Nigeria, this referral programme will provide extra income for many of its users.
Babatunde Olofin, Managing Director of Moniepoint MfB, noted that the customer-centric referral programme supports the bank’s focus on driving financial inclusion while helping to accelerate its vision of creating a society where everyone experiences financial happiness.
“We know how important seamless financial transactions are, and we’ve seen first-hand the power of peer-to-peer recommendations and how word-of-mouth referrals can grow a customer base and increase revenue.
“Given our strong customer obsession and the strings of commendations which we have received that validate the work we do in providing peerless financial services, we want to provide our customers with rewards even as they continue to share these positive experiences with the Moniepoint brand,” Olofin said.
Each current and new personal account holder has been provided with a unique referral code which is identical to their account username and is visible in the Referral Section on the Personal Banking app.
This code/link can be shared with anyone, who, upon signing up and transacting with the Moniepoint Personal Banking app, will contribute to rewards for the referrer.
For every outward interbank transaction conducted by referred customers in the next 12 months, participants will receive a commission.
This transparent and straightforward incentive structure ensures that participants reap tangible benefits for actively promoting the Moniepoint Personal Banking app.
Referrers can also track the total earnings and referral history from their referral in the “Earn from Referrals” icon in the app while earnings can be transferred to the user’s main account once a minimum of N50 has been earned.
Meanwhile, Moniepoint MFB has worked with the Central Bank of Nigeria to strengthen the security of the banking industry in the past month, pausing its onboarding.
It has now resumed signing up users with a commitment to providing its users with a secure, convenient and rewarding financial experience.
The referral programme is just one of the many ways the company is innovating to empower Nigerians and make financial services more accessible.
It will be recalled that Moniepoint MFB has in the last few months demonstrated peerless commitment to customer focus and satisfaction as evidenced by the opening of its Lekki Admiralty Road office, as well as the rollout of a USSD code, *5573# which offers users a fast, secure, and user-friendly platform to conduct their banking activities with ease.
According to media reports, Moniepoint Inc. currently processes the majority of the Point of Sales (POS) transactions in Nigeria through its subsidiaries, processing over $182 billion in annualized TPV and as a profitable enterprise, it is Africa’s largest fintech by transaction volume.