Moniepoint MFB launches personal banking referral programme

Business a.m

Moniepoint Microfinance Bank has announced the launch of its “Moniepoint Personal Banking Refer and Earn” programme. The initiative,available to small and medium-sized businesses in Nigeria, as well as their customers and employees,  is designed to reward them for their loyalty and support 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 referral programme is a great opportunity for customers to earn rewards for referring new users to the Moniepoint personal banking app. By referring just three new users to the app, customers can earn up to N100,000 or more during the campaign period. Moniepoint agents can also take advantage of this opportunity by helping their customers to download and sign up for the app. 

To participate in the “Refer and Earn” programme, Moniepoint Business customers can access their unique referral code/link through the “Referral” section of the Moniepoint Business Banking app. They can then share this code/link with their customers, who can use it to sign up for the Moniepoint Personal Banking app. Once the referred customer has successfully signed up and transacted using the app, the referrer will receive a reward.

In addition to the referral reward for each new customer signed up, Moniepoint has also developed a unique incentive structure that rewards participants for the activity of their referred customers. For every outward interbank transaction conducted by the referred customer in the 12 months following their signup, the referrer will receive an additional 4 naira, making it a very straightforward and transparent incentive structure. 

The referral programme is expected to have a significant impact on the growth of the Moniepoint user community, as it harnesses the power of word-of-mouth marketing. By tapping into the influence and trust of its existing customer base, Moniepoint is able to expand its reach and build a wider user community. This is seen as a strategic move by industry watchers and analysts, who view the referral program as a win-win for both Moniepoint and its users.

Commenting on the initiative, Babatunde Olofin, managing director, Moniepoint MfB,said “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.”

On the bank’s approach to the personal banking services, Olofin stated that Moniepoint’s innovation and reliable banking infrastructure extends beyond businesses to the individuals they serve, providing them with the tools and solutions they need to manage their finances better and lead more productive lives. He added that Moniepoint is committed to being the bank of choice for personal banking, providing products and services that are easy to use, accessible, affordable, and transparent.

Olofin further added that the personal banking referral programme was designed not only to reward Moniepoint customers for their loyalty, but also to encourage them to share the joy of using the bank’s services with others. He noted that personal banking with Moniepoint is an experience that is unlike any other, and the bank wants to make it possible for its customers to introduce this peerless and trusted digital banking experience to their own customers, earning rewards in the process.