Mobile Money (MoMo) POS Charges 2025 — Latest Rates

Mobile Money POS Machine

The telecom powerhouse MTN has an Agency Banking for Mobile Money (MOMO) business. It is run by Y’ello Digital Financial Services (YDFS). It is a supplier of financial services that operates within the super-agent and agency banking industries in compliance with the CBN Super-Agent framework and agent banking rules. 

Additionally, one of its services involves helping Nigerian financial institutions and mobile money companies via a network of agents. MoMo POS withdrawals cost 50 Naira between 1000 and 5000, 100 Naira between 6000 and 20,000, and 300 Naira between 20,000 and 500,000.

About Mobile Money (MTN) POS Machines and Charges

The MoMo POS provides services including bill payment, data and airtime purchases, and money withdrawal and deposit. Customers utilising MoMo services can have cardless transactions performed for them by registered agents. Even without a bank account or BVN, you may transfer money via MoMo.

If you use a MoMo POS device, you can position yourself as a neighbourhood mini-bank and earn a substantial profit from commissions on people’s financial transactions. Without further ado, we will now walk you through the steps involved in purchasing a MoMo POS machine and the accompanying costs.

Below is a full breakdown of MoMo charges that will be deducted per transaction. 

Note: MoMo charges ₦100 for transactions involving bill payments from ₦1 to ₦500,000. This means that MoMo will charge you ₦100 for every bill payment you make as a MoMo POS Agent.

MoMo POS Withdrawal Charges

Transaction	Amount	Charges	Remark
Withdrawal	N1000- N 5000	N 50	Capped
	N 6000- N 20000	N 100	Capped
	> N20,000- N 500,000	N300	Capped

MoMo POS Deposit Charges

Transaction	Amount	Charges	Remark
Deposit	N1000- N 5000	N 50	Capped
	N 6000- N 20000	N 100	Capped
	> N20,000- N 500,000	N300	Capped

Quick Comparison Table: Top POS Machine Charges

	Withdrawal	Transfer	Deposit
Opay	<N20,000 (0.5%)	<N10,000 (N30)	<N5,000 (N10)
	>20,000 (N100 flat rate)		N5,000–N10,000 (N20 Capped)
Moniepoint	1–20,000 (0.5%)	All transfers (N20)	All deposits is N20
	>20,000 (N100 flat rate)
Palmpay	0.5% on all withdrawals		N10 charged for all deposits
Payforce	₦1 – ₦5,000 (₦30)
	₦5,001 – ₦16,500 (0.6%)		All deposits capped at N25
	₦16,501 – ₦100,000 (N110)
	>₦100,001 (0.11%)

Conclusion

MTN MoMo is an MTN Group service and part of the MTN mobile money service. With the thought of how to ease the burden and stress of cash transactions, MTN came up with a way to help its customers send and receive money from one place to another via the mobile money platform. 

The MoMo platform reduces cash dependency and facilitates access to money, especially in rural areas where money transfer services are lacking. Also, there is a commission for every transaction made.  

See also: Airtel Smart Cash POS Charges

FAQs on MoMo POS Machine and Charges

How to Get MoMo POS Machine?

MTN MoMo agent registration: Below are the steps to becoming a MoMo agent in Nigeria:

Step 1: The first step to getting approval to become a MoMo agent in Nigeria is to meet all the requirements stated above.

Step 2: Visit any of the nearest MTN outlets to pick up a form, fill it out, and submit your details. 

Note that you’ll need to go along with a Valid ID card (a national ID, Driver’s licence, International passport, or Voter’s card) and one passport photo.

Present a snapshot of your existing shop or kiosk as evidence so as to fast-track your application. 

Step 3: Download the application form from the MTN website and proceed to step 4.

Step 4: At this stage, one of the MTN field personnel will contact you for a planned visit to ascertain your suitability.

What are the charges for MoMo POS?

MoMo POS costs 50 Naira for withdrawals between 1000 and 5000, 100 Naira for 6000 to 20,000, and 300 Naira for amounts exceeding 20,000 to 500,000.

Deposit fees range from 50 to 100 Naira for amounts between 1000 and 5000, 6000 and 20,000 Naira, and 300 Naira for amounts between 20,000 and 500,000 Naira.

What is the commission for MoMo Deposits for Agents?

To pay the agent commission, MoMo deducts a modest sum of money from the consumer. The MoMo commission that is paid to agents for deposit transactions is as follows:

• N1000-5000 agent commission is 25 naira.
• The Agent commission for a range of 6,000 naira to 20,000 naira is N50.
• The agent commission is N150 for any sum between N20,000 and N500,000.