Helpful Business Tips

How can I make the most of my payment services business?

Jude Atebe

Last Update a year ago

1. Marketing: Tell People About What You Can Do

If you do not tell people, you will not be able to garner enough clients. So, get posters, place banners or even send group broadcasts in your chat groups that you belong to. Tell friends and family to buy their airtime or data from you! Why should they be buying from someone else when they can all be empowering you by simply patronising your services including TV subscriptions, funds transfer and lottery tickets. Hey, if you buy our bluetooth printer, we will give you a FREE branded MOBitooT T-shirt, Stickers and a tarpaulin banner plus other promotional items to show what you can do!


2. Cost: Reduce Your Cost of doing Business

There are several ways to do this. The first opportunity I see is to reduce your transaction cost when funding your wallets! If your bank is the same as any of our 7 bank accounts (yes, we now have a PROVIDUSBANK Account to add to the previous 6 i.e. GTBank, Zenith, UBA, FBN, Access & Diamond Bank), then use the bank transfer option to send your money to the same bank. There is no Transaction fee.

The other way to reduce your cost is when you use ATM card to fund your wallet! Note that the 1.5% fee increases by N100 if your transfer is N2,500 or more. So, if you fund your wallet with ATM card, ALWAYS KEEP the amount BELOW N2,500. N2,499 means you will be charged only N37.49k. But if your pay N2,500 you will be charged N100 + N37.50.

Another way to reduce your cost is to avoid paying transportation cost because you want to go and pay money into our bank account in a bank. Ask someone to pay for you or get your bank Mobile or Internet banking app so you can make transfers directly to us from your mobile phone!


3. Time: Reduce Time Wasting When Funding Your Wallet

Time is MONEY! You can save a lot of time by simply following our procedures for funding wallets. ALWAYS TELL US YOUR VCN CODE Correctly. Your clients are waiting because you did not use your VCN code and we cannot fund your wallet. When you send us a message, start first with the following details

- Your VCN Code

- Bank Name you Paid into

- Date of payment and amount.

This information helps us to trace your payment immediately we see your mail. Remember, you should contact customer services if after 15 minutes of payment, using your VCN Code, your money is not yet in your wallet.

Another way to reduce time wasting is to fund your wallet with your planned spend for at least 2 weeks. Putting only N1,000 or less in your wallet means you will have to fund your wallet again in a couple of minutes or hours. I know my monthly spend for utilities, Airtime, Data and other bills is around N40,000 monthly so, I load N40,000 to my wallet once and I don't have to worry about funding my wallet for the rest of the month. Some people transact N5,000 daily and then only send N2,000 to fund their wallet. They now end up having to fund their wallet 2 - 3 times daily and incurring more cost and wasting time!


4. Get Help: Contact Customer Care if You Need Assistance

Yes, we are here to assist your make the most of your time. If you have any problems with any transaction, DO NOT LET IT GO! We can trace every transaction and will make sure you get value. Some people loose money by just "forgetting about it". You are not supposed to loose any money using our service. We know all our service providers and we can get either a REFUND or the service you paid for!

Remember: Customer care is only available from 9:00am to 6:00pm week days and 10:00am to 4:00pm weekends and public holidays. You can however perform all transactions 24/7.


5. Be Smart: Sell More High Discount Products

Do you know that with Sunshine Lottery Tickets you earn 10% of each ticket of N300 sold? 4% on Glo and 9MOBile and 3% on MTN & Airtel. MTN is the fastest moving! So sell, Sell and SELL. Let people know what you do!

Now if you are not a Re-Seller and just an end user, Save your cost of making these transactions or using our services. These little discounts add up to something. Yes you can do the same things with your bank app but, YOU DO IT FOR LESS COST & CUSTOMISED SERVICE FROM US.


6. Learn: Read About The Things You Can Do and How to Do Them

There are so many features and things you can do with MOBitooT. Most people even after 3 months do not know they can pay their Lekki Toll and Ikoyi Link bridge toll fees from MOBitooT. It is one of the least used products but I use it every now and then to top up my Lekki Tool cards.

Did you know you can send money from your wallet to any other MOBitooT wallet? A very convenient way for parents to send money to their kids with wallet to wallet transfer. What about Cash Payout? Do you know how it works and why it is a secure way to send money to anyone? As we grow our agents network, and more people get on the MOBitooT app, you will soon see that you people will be asking you if you can redeem a MOBitooT cash payout Code! Read more about these new products below.

Join the Telegram Partners Forum via this link https://t.me/joinchat/Fy8WkQ7cGYSjdTwVzI9fbw

and keep up to date about the MOBitooT app. Use the Help functionality under the Settings Menu of the app and read more about MOBitooT. Educate yourself about the app to get the most use from it! Download Telegram from play store or app store and click here to join.


7. Sell Frequently: It's All About Turnover

This s a business about turnover and volumes. If you sell too little in a day, you make little. Example of 2 clients. Client A sells N3,000 products daily. SO she only funds his/her wallet N3,000 everyday. Client B sells N3,000 products and turns over the N3,000 15 times a day. The Average return on turnover is about 4.2%. So client A makes only N126 profit per day while client B makes N126 x 15 = N1,890 as profit per day.

We hear people say "the profit is too small". But think about what the investment size is and the return on investment. Client A & B invested the same N3,000. But Client B will make 100% return on Investment in just 2 days while client B will only get 100% return in about 2 months! If you want to go big, sell more, frequently!

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