Moniepoint reopens doors to new customers with personal banking referral programme to boost financial inclusion 

Business a.m.

Moniepoint Microfinance Bank, recently acclaimed by the Financial Times as Africa’s fastest-growing financial institution, has relaunched its personal banking referral programme to reward customers for sharing their positive experiences with Moniepoint with their loved ones.

The referral programme is structured to reward customers every time a friend or family member performs a transaction on Moniepoint after signing up with the customer’s referral link. By spreading the word about Moniepoint, customers stand to earn upwards of N100,000 in referral rewards.

Moniepoint said it has made it easy for existing and new personal account holders to start earning rewards by providing each user with a unique referral code that matches their account username. This referral code, displayed in the referral section of the Moniepoint personal banking app, can be shared with anyone, and the referrer will start earning rewards for each new user that signs up and transacts with the app.

Moniepoint, boasting a track record of powering over three million businesses across Nigeria, has expanded its technology to personal users, providing seamless payment solutions for countless individuals. With referrals linked to transfers, a common payment method in Nigeria, Moniepoint’s referral programme presents an opportunity for customers to supplement their income while enjoying the services offered by the platform.

Under the terms of the referral program, participants will receive a commission for every outward interbank transaction conducted by their referred customers over the next 12 months. This commission-based incentive structure offers clear and immediate rewards for participants who actively promote the Moniepoint personal banking app to their network.

To ensure transparency and ease of tracking, the “Earn from Referrals” icon in the app provides a comprehensive overview of participants’ referral history and total earnings. The earnings can be conveniently transferred to the user’s main account once they have accumulated at least N50 in referral rewards.

In line with its commitment to financial security, Moniepoint MFB recently worked closely with the CBN to strengthen the overall security of the banking industry in Nigeria, pausing its onboarding process for a period of time.

As it resumes onboarding new users, Moniepoint has reaffirmed its dedication to offering its customers a secure, convenient, and rewarding financial experience. The company explained that the relaunch of the referral programme is just one example of its ongoing efforts to drive innovation in the financial services sector and empower Nigerians with greater access to financial solutions.

Babatunde Olofin, managing director of Moniepoint Microfinance Bank,remarked that the customer-centric referral programme 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,” Olofin said.