U-Mo (your mobile, your money) is a mobile payment scheme that allows a subcriber to carry out transactions such as money transfer, deposit and withdrawal, on their mobile phones. A subcriber need not have a bank account before he/she can use U-Mo.
An agency structure has been put in place to assist subscribers to carry out transactions seamlessly. There are 3 tiers of agents which are Mega, Super and Priority agent.
To become a Mega Agent:
I. Operate an individual Current or corporate account with UBA Plc
II. Provide completed enrolment forms
III. Signed Service level agreement forms to be provided by Afri-Pay limited.
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IV. Deposit N500,000.00 the suggested working capital in the U-Mo Agent UBA current account
V. A designated office designed to conform to the U-Mo branding and merchandising standards.
VI. At least one computer with steady internet access
VII. One dedicated operational staff
VIII. A dedicated and operational mobile phone
IX. An official e-mail for contact
X. Steady power supply, a power generating set as alternative source.
XI. Any other items/equipment necessary to conduct the business like chairs, Desk, stationery, Log book etc.
To become a Super Agent:
I. Provide a operational Java enabled Mobile phone and SIM
II. Operate an individual current account with UBA Plc
III. Provide completed enrolment forms
IV. Deposit N100, 000 into their SVA account created on their mobile phones.
V. Any other items/equipment necessary to conduct the business like chairs, Desk, stationery, Log book etc.
To become a Priority Agent:
I. Provide a operational Java enabled Mobile phone and SIM
II. Operate an individual savings account with UBA Plc
III. Provide completed enrolment forms
IV. Deposit N10, 000 into their SVA account created on their mobile phones.
V. Any other items/equipment necessary to conduct the business like chairs, Desk, stationery, Log book etc.
An additional requirement for becoming a Mega Agent is that all prospective mega agents must provide at least 5 Super agents and 15 Priority agents. This will form the initial agent network for the mega agent. We recommend the recruitment of retail shop owners, business centres, phone shops and similar retail business owners as U-Mo agents.