Home Business Moniepoint MFB launches ‘Refer and Earn’ program
Business - December 18, 2023

Moniepoint MFB launches ‘Refer and Earn’ program

Babatunde Olofin, MD, Moniepoint MFB.


Moniepoint Microfinance Bank has announced the launch of its latest initiative, “the Moniepoint Personal Banking Refer and Earn” program.

The idea, according to the definitive bank for small and medium-sized businesses in Nigeria, as well as their customers and employees, Moniepoint Microfinance Bank, is in tandem with the spirit of giving, generosity and goodwill that defines the Christmas season.

With close to two million businesses leveraging Moniepoint MfB’S reliable and robust infrastructure in accessing payments, credit and business management tools that they need to grow, this exciting referral program is designed to reward Business Owners and Moniepoint agents who can earn up to N100,000 or more during the course of this campaign by actively referring Moniepoint personal banking app to their customers.

According to the Managing Director, Moniepoint MfB, Babatunde Olofin, “at the heart of Moniepoint’s success are our valued customers, and this initiative is a heartfelt expression of gratitude for their trust, loyalty, and transactions. It is also about exemplifying the Bank’s mantra of powering dreams and our visionary resolve to create a society where everyone experiences financial happiness.”

Leveraging the bank’s credentials as a leading innovator in the financial services space, the personal banking services extend its reliable banking infrastructure from the businesses it serves to their customers and employees and provide them with solutions that help them live productive lives as they manage their finances better.

Furthermore, speaking to the import of the initiative, Olofin added that “in rewarding customers for their loyalty, we want to make it possible to let customers introduce our peerless and trusted digital banking experience to their customers while earning rewards in a fun way. Our personal banking services break the stereotype of banking services in people’s mind, and we’d like to encourage them to find joy in their financial journey.”

On the mechanics of the Refer and Earn initiative, participants have a unique referral code/link accessible through the Referral Section on the Moniepoint Business Banking app. This code/link can be shared with customers, who, upon signing up and transacting with the Moniepoint Personal Banking app, will contribute to rewards for the referrer.

For every outward interbank transaction conducted by referred customers in the next 12 months, participants will receive 4 naira. This transparent and straightforward incentive structure ensures that participants reap tangible benefits for actively promoting the Moniepoint Personal Banking app.

This win-win collaborative exercise is easily accessible to all Moniepoint business owners via the app which makes it convenient to share and track their referrals.  To ensure clarity and transparency, Moniepoint MfB prioritizes open communication and encourages participants to provide feedback to enhance the program.

Industry watchers and analysts see this move as one that contributes to the growth of the Moniepoint user community as it encourages word-of-mouth marketing, leveraging the trust and influence of existing customers to expand the reach of the Moniepoint Personal Banking app.

It will be recalled that Moniepoint MfB only recently announced its foray into the personal banking segment with an app that will enable users to make transfers, pay bills and buy airtime, while its debit cards can be used at ATMs, POS terminals, and online. Merchants will also benefit from seamless transactions when customers use Moniepoint cards.

Moniepoint’s personal banking services is creating a pathway for the deployment of seamless and reliable digital payment solutions for Nigerians especially those in underserved communities even as there is a groundswell of evidence worldwide which shows that access to financial services contributes both to economic growth and wealth creation.

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