Moniepoint MFB, recognized by the Financial Times as Africa’s fastest-growing financial institution, has announced the relaunch of its personal banking referral program. This initiative aims to enrich its customers as they share the Moniepoint experience with family and friends.
The revamped referral program is designed to reward users whenever their referred friends or family conduct transactions on Moniepoint. This initiative is set to enable millions of people to earn over N100,000 solely from referrals.
Moniepoint’s advanced technology has already supported over 3 million businesses across Nigeria. Now, with its reliable infrastructure extended to personal users, seamless payments are facilitated nationwide. Given the prominence of transfers as a preferred payment method in Nigeria, the referral program promises to provide additional income for many users.
Babatunde Olofin, Managing Director of Moniepoint MFB, highlighted the customer-centric nature of the program, which aligns with the bank’s mission to drive financial inclusion and foster financial happiness. “We know how important seamless financial transactions are, and we’ve seen the power of peer-to-peer recommendations. Our customer obsession and the commendations we receive validate our efforts in providing exceptional financial services. We aim to reward our customers as they continue to share their positive experiences with the Moniepoint brand,” Olofin stated.
Each personal account holder, both current and new, is provided with a unique referral code, identical to their account username, visible in the Referral Section of the Personal Banking app. When shared, this code allows new users to sign up and transact, thereby earning rewards for the referrer. Participants will receive commissions for every outward interbank transaction conducted by referred customers over the next 12 months. This clear incentive structure ensures tangible benefits for those promoting the Moniepoint Personal Banking app. Users can track their earnings and referral history through the app’s “Earn from Referrals” feature, with earnings transferable to their main account once a minimum of N50 is reached.
Moniepoint MFB recently collaborated with the Central Bank of Nigeria to bolster the security of the banking industry, temporarily pausing new user onboarding. With this security enhancement now in place, Moniepoint has resumed user sign-ups, reaffirming its commitment to providing a secure, convenient, and rewarding financial experience. The referral program is one of many innovations aimed at empowering Nigerians and enhancing financial service accessibility.
In recent months, Moniepoint MFB has demonstrated a strong commitment to customer satisfaction, evidenced by the opening of its Lekki Admiralty Road office and the introduction of the USSD code *5573#. This code offers users a fast, secure, and user-friendly platform for banking activities.
According to media reports, Moniepoint Inc. processes the majority of Point of Sales (POS) transactions in Nigeria through its subsidiaries, handling over $182 billion in annualized Total Payment Volume (TPV). As a profitable enterprise, it stands as Africa’s largest fintech by transaction volume.
