M – PAYING BUSINESS SERVICES. WHAT IS IT ALL ABOUT
Another GSM revolution is taking the center stage right now with massive for many Nigerians who care to position themselves for it. It is GSM mobile payment banking system. In September 2001, there was information about the wealth GSM will bring to Nigerians and those that are care and took early steps are now home and heavy with wealth while others are also scratching the surface of the opportunities.

This GSM mobile payment banking system is big and massive. It has nothing to do with airtime recharge card. It is a phone only virtual. It is a reliable, secure, flexible and convenient business to do with your computer and phone as your major tool. This is a system where you make payment exclusively with your hand set. This service enables people to save money to be able to make payments at their own convenience time and anywhere. For example if you eat a meal at Mr. Biggs’, all you simply do is to pull out your hand set and make payment and Mr. Biggs will receive payment instantly. Yes! If it is in the market, the market woman gets paid immediately, through her hand set. It’s amazing. With the mobile payment, you can pay for your hotel room, send money to family and friend, buy airtime for self or others and pay utilities bill i.e. electricity, hitv, dstc, nysc, exams forms etc. For all your purchases and transactions.

The mobile payment system is a big hit. With only 22 millions bank accounts and 10,000 bank branches located for 140 million people, Mobile Payment would indeed reach over 80 million mobile phone users. A good example of fast growth is safaricom in Kenya; the first place in the world where m-paying was operated.

This is the time to share all the profit MTN, ZAIN, GLO AND Etisalat have been enjoying for long. The good things about this opportunity are that these GSM operators are not directly involve in this business: the reason why CBN wants to make sure Nigerians make raw cash from this new mobile banking business.

DESCRIPTION OF PRODUCTS

Mobile Payment: This is a system where you make payment exclusively with your hand set. This service enables people to save money to be able to make payments at their own convenience time and anywhere. For example if you eat a meal at Mr. Biggs’, all you simply do is to pull out your hand set and make payment and Mr. Biggs will receive payment instantly. Yes! If it is in the market, the market woman gets paid immediately, through her hand set. It’s amazing. With the mobile payment, you can pay for your hotel room, send money to family and friend, buy airtime for self or others and pay utilities bill i;e electricity, hity, dstc etc. For all your purchases and transactions

Online payment: This is a system where the customer makes payment using computer system with internet facility to transfer money or make purchase of goods and transaction of services. The subscriber of this product make use of email address to make all it transaction online. It is secure and protected through password and pin code. In most cases, online business failed because of payment collection. Until the money exchange hands, the business isn’t done. How do you collect the money of goods and services operated online, this had make it difficult to online merchant that have people who wish to buy but cannot deal because they don’t know how to collect money. Question, why did a merchant go through the whole process of creating a business and marketing it to attract customers when there is no way to receive cash? The M-Paying services has create solution to this problem, whereas the merchant can now create it own online payment button and paste it on it website. The customers wish to buy can click the payment button and make the payment easier and secure. The merchant at the same time receive it money online. In this case the transaction is completed.

What is U-Mo
U-Mo is a version of UBA Mobile Payment service operated through a UBA subsidiary called Afri-Pay.

Different between Mobile Banking and Mobile Payment
Mobile banking is a channel that a bank provides her customers to operate the formal savings and current accounts that are opened with the bank. However, this service is not accessible to anyone without an account with the bank. An example of mobile banking is UBA U-Mobile

Mobile payment, on the other hand is a phone-only virtual account that a service provide uses in providing financial services to unbanked, under-banked and banked customer (irrespective of their primary banks), without opening formal bank accounts. Mobile payment only requires names, mobile number, address, occupation and signature to register (low KYC). An example of mobile payment is

There are 3 types of U-Mo account
U-Mo silver for unbanked
Low KYC

U-Mo Gold (linked to saving Account)
Medium KYC

U-Mo Platinum (linked to current Account)
Full KYC

Who are U-Mo Agents?
UBA plans to partner with entrepreneurs that have ambition to run their own businesses to drive U-Mo sales at every street corner of Africa. These entrepreneurs are called agents.

Agents will be responsible for the following:
Educate customers about U-Mo
Enroll customers on U-Mo
initiate the first deposit of at least N500
Address all customer complaints
Print enrollment forms for sub-agent
Manage liquidity for sub-agents to support cash-in- and –cash out service
Meet regularly with lower level agents to ensure standards are maintained.
Brand their outlets in line with Afri-pay stipulated guidelines

What does it take to be an agent?
It is free to become agent. However, the following resources will be required to qualify.

Mega-agent:
1 desktop with internet access: N1,000,000 working capital: and 15sqm branded: office space

Super-agent
1 mobile; and N100,000 working capital

Agent:
1 mobile; and N10,000 working capital

Note that the “working capital” is the money that agents will deposit into her U-Mo account to support her customers that want to convert cash to e-cash (U-Mo money).

Mega-agents are the only agents require having offices that will be painted in UBA red color. UBA will provide U-Mo logo in form of stickers to placed in front of the mega-agent offices
Only the U-Mo logo will be required for the super-agents and agent.

HOW DOES IT WORK?
The central bank of Nigeria decided to make sure Nigerians have access to express money transfer and payment even if in the rural areas. They look at banking database and realize that only 22 million bank accounts are available. And that goes to show that about 86% of Nigerians do not have bank account. But there about 86 million GSM subscribers; that is, 66 million Nigerians need to be transferring cash and spending money. So the central bank decided to copy the safaricom Kenya idea which originated from a GSM company in Kenya. It actually started during the time of soludo. The idea is to come up with mobile payment system. Though before now, we’ve had some banks which which have been operating a kind of mobile banking but this still did not meet the needs of the vast majority because it is just for those that have account with them. And it is only limited to their own banking operation. For instance, you cannot transfer money from GTB to UBA using that system. We have finbank that has Flash Me cash; we have GT bank that has mobile phone transfer. But, these operations are limited to their own banking operation.

THE OPPORTUNITY FOR BUSINESS
The opportunities that people will get from this are many. If we have over 70 million subscribers, we are looking at a transaction that is above one billion. It’s on the back drop of this that the CBN decided to bring up mobile payment system that will reach out to those over 70 million phone subscribers. With the system, you don’t need to download any files; it goes with text messaging. You buy credits from an agent and load it on your mobile banking in your phone; then you make payment with it or transfer cash with it. That, in a nutshell, is what mobile payment is all about.

HOW COULD PEOPLE BE PART OF THIS BUSINESS
As a registered partner, you are required to start an M-Paying service center. At these centre, you will credit customer mobile wallets and charge fees. You will also facilitate cash withdrawal and charge fees as well, besides other outlets in this business, these multiple outlets include:

GSM mobile money transfer: an electronics means of money payment system using your phone. To access this. You need to register for free. For registration *surname other name*email or address-send

GSM Money transfer: on your mobile phone, you can instantly transfer money to customers, colleagues, friends, and family. You can transfer by sending SMS of this type: Pay*recipient mobile number*amount*pin-send.

Mobile saving for members with desire to build funds for future products in:
· Ileya savings
· Daily/weekly savings
· Education saving
· House rent saving
· Xmas savings

Mobile payment: using your mobile phone from anywhere you can pay for:
· Airtime voucher- MTN, ZAIN, GLO, Etisalat, Starcomms, Visafone etc.
· Registration and result checking- Jamb, Neco, Waec, NYSC, HITV, DSTV etc
· Payment- BRT, goods and services, car parks, fuel & gas station
· Initial public offers
· Insurance premiums and hospital bill
· Schools fees, tithes, offering and donation
· Government taxes and levies, electricity bills, water rates, vehicle registartion

Cash withdrawal: as a customer, you can request for cash withdrawals at any of our service centre nationwide.

WHAT IS THE BENEFIT OVER OTHER PROVIDERS?
One great thing about this great business and being M-Paying service agent is that our customers are given two type of services for one, once a customer register under our platform, it’s operate both online payment and GSM mobile payment. And also the agent earns commission from the both side of services. Also the agent will be given a DISCOUNT CODE for online payment and any customer make use of the agent discount code will have discount on the transaction and the agent will also earn 25% from the commission derived from the customer transaction. Also the agent detail will be posted on our website that will generate traffic for the agent which our company will advertise on punch and guardian newspaper as well as facebook and google website every week.

WHAT ARE THE PROFIT OPPORTUNITIES?
Where a mega-agent has 5 super agents and each super-agent has 5 agent enrolling customers; then if each agent has average of 300 active customers that do an average of 3 transactions per month, estimated monthly income could be

Also the profit opportunity in this business is vast and it is not fixed, depending on agent persuasion ability. You can also make between 5% to 20% from the transaction. If you work hard enough, you can have a customer base of 500 ready to patronize people. And if each of these 500 customers transacts an average of N100 everyday on recharge cards, you will arrive at a modest of 5 x 30 x 500, giving you N75, 000 monthly. This is aside what will come to you as service charge fee, from the other multiple services, this service charge fee is not fixed, and it depends on your ability to persuade your customers.

SECURITY AND OPERATIONS
Security is involved. It is about figures, but you cannot access another person’s account. You might steal somebody’s phone but you can’t access his account because you don’t have his PIN and PASSWORD. Also the agent has an access cash of N100,000 which he can replenish if it gets exhausted. So at every point in time, the agent does not have more than N100, 000 wherever he is based. The public goes to the agent to acquire credits or get cash.

MOBILE PAYMENT IS A BOMB FOR EVERYBODY
Everybody needs mobile payment system. Even an okada man needs it. People need it so they can save more, to be able to make payment at their own convenience. If your brother calls from home and you are busy at the office, you do not have tell him to hold on so that you can go to the bank. All you need do is operate your phone and within minutes, the money is in his phone. You literarily text the money to him. You can also go to the agent for the same process. Simply put, you have your money from the agent, transfer the money into your phone and send it to whoever you want to send it; or you can also use the money to do whatever you want to do, including shopping and other activities that require some transaction. When the receiver gets a text message informing him or her of the money that has been transferred to him/her, he or she goes to the nearest agent to collects the money or better still cash it at any nearest ATM machine.

HOW TO OPERATE THE MOBILE PAYMENT SYSTEM
In the next two years, you might not be able to do any financial transaction unless you make it through your mobile phone. It’s is cashless way of making people keep their money in the bank. And you don’t need a bank account to operate it. All you need is to have a mobile GSM Phone and register with U-MO, through its agents. For the card operation, you pay or load money into the card and you can receive from it.

USING YOUR ATM MACHINE WITHOUT AN ATM CARD
Again, you can imagine going to an ATM machine without an ATM card. Another beauty of the system is that even if there is no agent at the receiver’s location, he can go to the nearest ATM machine and collect his money because the mobile payment system will be configured into ATM machines. All the person needs to do is go to the nearest ATM machine press “Mobile Payment” insert is Pin number and collect his money.

OPPORTUNITY FOR POTENTIAL AGENTS
Since agents will be needed all over Nigeria, there will be massive money making opportunities for those who can work as agents. Over 200,000 agents will be needed for a start. And according to CBN, each of those licensed companies must have at least 5 million subscribers.

WHAT ARE THE OPPORTUNITIES FOR AGENTS?
M-Paying as subsidiary of karems online company is interested in creating a mutually benefiting partnership with interested and creative members of the public who are business minded, entrepreneurial and ready to start service centre nationwide as member partners. We are partnering with UBA mobile payment service. And with our experience and as major key player in Nigeria online payment solution, we can enable our viable agent to achieve their aims target; which is huge profit. Interested agent are require to signup M-Paying account at www.mpaying.com and activate the account with minimum of N2000 (two thousand naira only), you be given member Id number upon confirmation of the account. For member agent license and set up training programme, in addition, a minimum working capital of N10,000 is all that is required to start the business, even as a student. The set-up training involves a 1-day business training programme which enables the agent to have the skill necessary to set up and successfully run the business anywhere in Nigeria, even in the remote village as long as GSM services is available there.

AGENT TRAINING:
VENUE: SURULERE LOCAL GOVERNMENT SECRETARIAT, SURULERE, LAGOS STATE
DATE: 22-01-2011
TIME:10am
FEES: FREE
Training and Agent kits: N5,000 compulsory
PRE-REGISTRATION CLOSE 17-01-2011
Agent kits payment before 17-01-2011:N2000
payment after 17-01-2011 is only accepted at the seminar venue
Make Payment of N2000 direct to the bank before 17-01-2011 Click here for bank detail