By Modupe Gbadeyanka
The personal banking referral programme designed to enrich its customers has been reintroduced by Moniepoint Microfinance Bank (MFB).
The financial institution relaunched this scheme as it resumed onboarding new customers after the Central Bank of Nigeria (CBN) lifted the ban on financial technology (fintech) companies.
The referral programme rewards users every time their friends or family perform a transaction on Moniepoint after signing up with their referral link. Through this, millions of people will earn well over N100,000 from referrals alone.
Moniepoint’s technology has powered over 3 million businesses across Nigeria, and with its reliable infrastructure now in the hands of personal users, it enables seamless payments for many across the country.
With referrals linked to transfers, a leading payment method for many in Nigeria, this referral program will provide extra income for many of its users.
Each current and new personal account holder has been provided with a unique referral code which is identical to their account username and is visible in the Referral Section on the Personal Banking app.
This code/link can be shared with anyone, 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 a commission. This transparent and straightforward incentive structure ensures that participants reap tangible benefits for actively promoting the Moniepoint Personal Banking app.
Referrers can also track the total earnings and referral history from their referral in the “Earn from Referrals” icon in the app while earnings can be transferred to the user’s main account once a minimum of N50 has been earned.
The Managing Director of Moniepoint MFB, Mr Babatunde Olofin, said the customer-centric referral program supports the bank’s focus on driving financial inclusion while helping to accelerate its vision of creating a society where everyone experiences financial happiness.
“We know how important seamless financial transactions are, and we’ve seen first-hand the power of peer-to-peer recommendations and how word-of-mouth referrals can grow a customer base and increase revenue.
“Given our strong customer obsession and the strings of commendations which we have received that validate the work we do in providing peerless financial services, we want to provide our customers with rewards even as they continue to share these positive experiences with the Moniepoint brand,” Mr Olofin said.