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Saturday, August 25, 2012


How to Maximize Profit on M-pesa, tigo pesa, Airtel money and Z-pesa

Over the recent years mobile phone based money payment methods have gained success. The notable brands being m-pesa, tigo pesa, airtel money and Z-pesa in Tanzania. Apart from the mobile company giants enjoying the revenues generated, the business has provided a means of income to the agents as well leading to many business becoming agents. In this regard, the agents are the people interfacing the customers for the operators. Agents open accounts, do customer care and stock adequate cash and e-float to enable customers to deposit and withdrawal. In this post, we look at the best practices agents can apply to maximize their earnings.

Business location
One of the key factors driving the mobile phone payment methods is the volume of transactions. The agent's commission is proportional to the number of transaction he/she has processed. Thus positioning your business at a place which is populated and would likely have customers such as a bus stand, market, or a busy shopping place would attract more people than in remote areas.

Capital
This is also another factor to look at when considering becoming a successful agent. Normally the capital is put into two parts, that is the hard cash and the e-float and the agents uses both of them for withdrawal and deposits services. Withdrawal happens when a customer has e-money on his/her phone and wants to exchange it with cash. This transaction involves the user sending(withdrawing) that value to the agent till via the withdraw cash option in his/her phone menu. This transaction increases the agent's e-float value but reduces his/her cash value. Deposit is the opposite of a withdrawal and it’s when a customer has cash and wants to have e-float on his/her phone. This type of transaction enables customers to send money to different accounts, pay for services, buy goods, airtime and other operator based services. For the agents to compete well in the market he/she has to have enough both hard cash and e-float. Customers are more likely to be dissappointed if you lack any of them.

Good customer care.
Ensure you have a strategy to make sure a new customer will come back next time because of your good services. Good customer care includes a good office that offers security and privacy and good communication with customers.

Offer Multiple Outlets
Having your mobile payment business structured in multiple outlets enables you maximize your revenue. However before you establish a new outlet you should make sure you have enough capital as discussed above so that you maintain your customers. With enough capital, having multiple outlets will enable you to enjoy the business with a superb income generation.

Offer different mobile payment operators services.
Trying to offer what the market desires is a key to your business success. If you offer a service for only a particular provider say airtel money, you will loose customers looking for tigo pesa, m-pesa and z-pesa services. The best you can do is to study your market and offer what they desire.

Register new users
Customers who are not registered cannot use the service for sending e-float to other accounts and paying for bills except for receiving. To enable these customers use all services and increase your chance of earning a commission, try to spread the good word to them to register their accounts.

For more professional advice on  how to maximize your income through the mobile payment methods, please contact us.

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