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About MTN MobileMoney Fully compliant with all banking and FICA regulations, MTN MobileMoney is available to all MTN customer. MTN MobileMoney services are also available for both bank account holders and non bank account holders. MTN SIM card holders can now register for MTN MobileMoney services, which allows customers to make a range of transactions via their mobile phone. Non – MTN customers also benefit from MTN MobileMoney by going to an authorised MTN MobileMoney agent. Through MTN MobileMoney you can now send money from your MTN phone to anyone in the country. The recipient does not need to be an MTN customer, or have a mobile phone. They can simply visit an authorised MTN MobileMoney agent to collect their money. Benefits Once you have registered for MTN MobileMoney, you can: Deposit cash into your account at MobileMoney Merchants outlets Send and receive money from the convenience of your mobile phone Buy prepaid airtime for yourself and other MTN customers Manage your MobileMoney account – check balance, change pin,etc Withdraw cash at any MTN MobileMoney agents or any participating ATM carrying the MobileMoney logo How to Register with MTN MobileMoney You can now register for an MTN MobileMoney account at any of our authorised agents in your country of residence.

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About MTN MobileMoney

Fully compliant with all banking and FICA regulations, MTN MobileMoney is available to all MTN customer. MTN MobileMoney services are also available for both bank account holders and non bank account holders. MTN SIM card holders can now register for MTN MobileMoney services, which allows customers to make a range of transactions via their mobile phone. Non MTN customers also benefit from MTN MobileMoney by going to an authorised MTN MobileMoney agent. Through MTN MobileMoney you can now send money from your MTN phone to anyone in the country. The recipient does not need to be an MTN customer, or have a mobile phone. They can simply visit an authorised MTN MobileMoney agent to collect their money. Benefits Once you have registered for MTN MobileMoney, you can:y y y y y y y yDeposit cash into your account at MobileMoney Merchants outlets Send and receive money from the convenience of your mobile phone Buy prepaid airtime for yourself and other MTN customers Manage your MobileMoney account check balance, change pin,etc Withdraw cash at any MTN MobileMoney agents or any participating ATM carrying the MobileMoney logo

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How to Register with MTN MobileMoney You can now register for an MTN MobileMoney account at any of our authorised agents in your country of residence. Step 1 - take a copy of your Identity Document Step 2 - Go to an authorised MTN MobileMoney Agent Step 3 The agent will capture your details and give you your MobileMoney pack Step 4 When prompted, select you MobileMoney PIN You are now registered. The registration conditions may vary from country to country so visit your nearest MTN MobileMoney agent for more information

MTN MobileMoney FAQ Q What is MTN MobileMoney?MTN MobileMoney is a convenient, secure, and affordable way of sending money, buy airtime and make basic payments such as utility payment from your MTN mobile phone. The service is offered by MTN across its Operations in partnership with local banks.

Q Do I need to have a bank account to use MobileMoney?No. MTN MobileMoney is available for anyone in the countries it is being offered. No bank account is required.

Q Who can use MTN MobileMoney Service?The MTN MobileMoney service is available to all MTN customers. Non-MTN users can also use the service to send and receive money domestically by going to an authorised MTN MobileMoney agent.

Q Can I send money to someone who doesnt have a mobile phone?Yes. You can send money from your MTN phone using your MobileMoney menu to anyone in the country. the receiver does not need to have a mobile phone or be an MTN customer.

Q How does the receiver get the cash?When you send money to a receiver who is also a registered MTN MobileMoney user, he can get the cash out by simply going to an authorised MTN MobileMoney agent and ask for a cash-out from his account.

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You are required by the system to select a 4 digit secret code The system returns a 16 digit PIN. You need to communicate the PIN and the secret code to the receiver With these information, he can collect the money from any authorised MTN MobileMoney agent

Q How do I deposit the money to be sent on my MTN MobileMoney account?Simply by going to any authorised agent.

Q What is my MobileMoney account number?Your MobileMoney account number is your mobile phone number. Anyone who wants to send money to your have simply to enter your mobile phone number when prompted.

Q Is the MobileMoney Account PIN the same as my SIM card PIN?No. You select a specific MobileMoney PIN when you register for the service. Keep it confidential as it protects your money.

Q Can I do MobileMoney transfers on the internet?Yes. You can access your MobileMoney account via the internet and carry out transactions.

Q What is different with MTN MobileMoney? I already use Mobile Banking on my phone.With MTN MobileMoney you can send money to anyone in the country whether they have a bank account or not and whether they have a phone or not. You can also reload your MobileMoney account very conveniently by going to the nearest MTN MobileMoney agent.

Q What is the difference between Me2U and MobileMoney?Me2U allows you to send MTN prepaid airtime to be used for voice calls and SMS. MTN MobileMoney allows you to send and receive real money on your mobile phone, and cash-out at any MobileMoney agent. (including MTN Service Centres and Connect Stores, as well as local banking partners branches). In addition you can use the balance of your MobileMoney account to buy airtime for yourself and other MTN subscribers. When the service is available you can also pay bills using your MobileMoney account. MTN MobileMoney gives all the Me2U benefits and much more.

Q What features are available with MobileMoney?Once you have registered for MobileMoney you can

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Deposit cash into your account at MobileMoney Merchants outlets Send and receive money from the convenience of your mobile phone Buy prepaid airtime for yourself and other MTN customers Manage your MobileMoney account (Check Balance, change PIN, ) Withdraw cash at an MobileMoney Agents or any participating ATM (carrying the logo MobileMoney)

Q Can I use an existing MTN prepaid airtime scratch card to reload my MobileMoney account?No. You cannot use MTN prepaid airtime card.

Q Do I need to have a minimum balance in my MobileMoney account? Any monthly charge?No minimum balance is required with MobileMoney and there is no monthly fee either. You only get charged for the transaction you do. It is pay as you go.

Q Are there any transaction limits on MTN MobileMoney Account?Yes. The limits depend on the country.

Q How do I register for MobileMoney?The registration conditions depend on the country you are in. Consult your country MTN MobileMoney page

to find out how to register for MobileMoney.

Q Can I use my existing SIM for the MobileMoney service?It depends. The service requires a SIM pre-loaded with the MobileMoney application and some security features to ensure your transactions are safe. MTN customers who do not have such SIM cards need to swap to a new MobileMoney SIM. The Registration agent will help you to determine if your SIM card contains is adequate or needs to be replaced.

Q Do all mobile phones support MobileMoney?Yes. The MobileMoney application is linked to your SIM card and will work on any phone.

Q Can I use MobileMoney to send Money across boarder?Not yet. MTN together with its Banking partners is working on it and this possibility shall be introduced soon.

Q Can I use MobileMoney while roaming?Yes. You will not be charged any extra fees when you use MobileMoney while roaming.

Q Is my money safe?Yes. Your money is stored safely with MTN Banking partners.

Q What happens if my phone/SIM is lost or stolen?Your money is still safe. Your MobileMoney account is protected by your Account PIN. Consult your local User Guide to find out the process to follow in this case.

Q How do I keep my MobileMoney Account secure?You need to keep your Account PIN secret from others. Memorize your Account PIN and do not carry it with your phone. Never give away your Account PIN. If you have reason to believe your Account PIN has been compromised, you can change the Account PIN in the MobileMoney menu.

Products & ServicesPick a Country MTN MobileMoney is being rolled out in MTN countries. Click on the map to check whether or not the product is commercially available in your country.

The closed loop system offered by some Nigerian banks. The features are: It is limited to the bank s network The sender must have a bank account Receiver can be un-banked

An example is the GTBank Cash-in transit system (Account-to-cash product) Sender needs to be banked with GTB. The product was introduced within the last one year Sender pays 1% fee of principal, capped at 250 Naira Sender is provided with a system generated pin code It is the Sender s responsibility to convey the code to the receiver Receiver does not need to be banked, but needs pin code Receiver can redeem cash only through about 200 GTB outlets nationwide Sender can choose test question and type of ID receiver need to present for pay-out

The open loop system involves A cash card that can be purchases from a bank or via its branches It is PIN based

An example is Money Manager Cash Card available through Access, Fidelity and Oceanic Banks Neither sender or receiver needs to be banked at any institution Scratch cards can be purchased in following Naira denominations: 2350; 5350;10,500; 20,500 and 50,800 The principal amounts are 2000, 5000, 10000, 20000 and 50000 Naira, i.e. the amounts payable to the receiver. Fee thus varies from 350 to 800 Naira depending on principal amount. Sender fills out cash deposit slip, but does not need to present ID Sender provides receiver s full name, type of ID to be used when redeeming money, ID no, DOB and expiry date of ID type (KYC). Sender issued with a scratch cash card and has to provide receiver with pin number and pay number Receiver can collect cash at any redeeming partner outlet and has to provide ID type stipulated by sender

Mobile phone offering Flash me cash Sender has to be banked Receiver needs only mobile and ID FlashmeCash

An example is the First Inland bank product

Sender needs to be banked with First Inland Mobile number attached to First Inland Bank Account Sender s account gets debited with fee For N0 N20,000, sender gets charged N250 For every N1000 after N20,000, sender gets charged 5 Naira over and above 250 Naira

Receiver only needs mobile phone and ID to collect cash from any First Inland bank outlet 141 outlets throughout Nigeria

Airtime reselling (airtime for cash) Individual transfers airtime to reseller s mobile Reseller waits for airtime transfer confirmation Reseller charges 8% of principal value of airtime Reseller provides individual with cash (i.e. N2000 earns individual N1840 in cash)Some small umbrella dealers can buy scratch cards and charge a negotiated rate - sometimes as much as N500 for a N2000 voucher This method is completely informal market with no regulation

General operating principles There are two types of accounts: o Individual accounts o Dealer accounts Transactions on the accounts are done via the mobile phone and later may be possible through the Internet web interface Service Centers and Connect Stores need to do customer registration through a POS interface with a web camera. The webcam takes pictures of the individual and his ID and shall be attached to the registration file and uploaded and stored in Fundamo

The account number is the MSISDN (phone number) plus a check digit (0-9) to minimize erroneous money transfers into mistyped accounts Application language is English. Account is denominated in Naira MTN will open one single bank account (pool account) with GTBank, in the name of MTN Mobile Money All Mobile Money-related transactions between the GTBank and Mobile Money will be recorded in this pool account All customer transactions occur within the Mobile Money system, and as such do not require bank interaction and do not affect the pool account. Exceptions are when the customer transfers money to/from his bank account/debit card, if the customer signed up with one at the Mobile Money activation

Account opening & fulfilment Dealers MTN creates/pre-activates the Dealer account structure on the system The bank, through its branches and/or any other authorized agents opens the Registration Dealer accounts after performing KYC and opens a bank account for Registration Dealers Dealer accounts are opened face-to-face by the bank. The standard bank account KYCs apply A Dealer must have or create an account with GTBank to open a Mobile Money Dealer account Dealers are required to attend a training session Dealers will be required to buy a phone compatible with KYC capturing requirements (MTN to specify) Dealer account holders typically include o Distribution trade partners o Retail franchises such as Courier companies o Financial institutions such as Micro Finance or credit unions Dealer accounts can be topped-up from the Dealer s own GTBank account automatically by establishing a direct debit function tied to the GTBank account Dealers cannot make cash deposits into the MTN pool account. They first must deposit cash into their own GTBank account and then transfer to the MTN pool account The Dealer account is managed by an administrator who can define sub-accounts for Handlers and what each Handler is authorized to do on his account An unlimited number of Handler accounts can be associated with a Dealer account Handlers can be added to a Dealer account by Mobile Money back office staff For each Handler, the following information are required for registration: o Name o Date of birth o Address o Phone number

o ID number (Passport, National ID, ) o Photo of the individual (uploaded onto database) o Photo of the ID (uploaded onto database) Every Handler has a secret PIN to confirm his transactions, established by the dealer All activities on the Handler account can be traced and reconciled by the Handler and by the Dealer All Handlers have an individual Mobile Money account in their personal capacity to receive commission payments A Dealer account owner receives at registration an information pack that includes: o A SIM loaded with the Dealer application o The terms & conditions of the account o A user guide that outlines how to operate the account o A Dealer-specific user guide, including customer KYC and photo procedures o A booklet of receipts to record transactions (logbook) o Branding and signage materials o An administrator login and PIN code to access the web interface of the account management o A call center number for support When a Handler is registered he must attend a training session at which he receives a pack that includes o A SIM loaded with the Dealer application (pays going price for the SIM) o The terms & conditions of the account o A user guide that outlines how to operate the account o A Dealer-specific user guide, including customer KYC and photo procedures o A booklet of receipts to record transactions (logbook) o Branding and signage materials o An administrator login and PIN code to access the web interface of the account management o A call center number for support

Account opening and fulfilment - individuals Individual accounts are opened face-to-face by Dealers and Handlers Individuals perform bank-regulated KYC s: o Name o Date of birth o Address o Phone number o ID number (Passport, National ID, ) o Photo of the individual (uploaded onto database)

o Photo of his ID (uploaded onto database) o New SIM IMSI number o Email (if available) o Debit card number Individuals are required to upgrade their SIM cards to 128K SIM cards preloaded with the MM application. The SIM swap process must be done physically at the Dealer The Dealer enters the KYC s into the MM system via the MM menu The Dealer takes a photo of the individual and a photo of the ID and sends via GPRS to the MM database Individuals choose their secret Bank PIN during the activation registration Memorable data are captured for future authentication (details TBD)

Transaction- and account limits Maximum account balance: N200,000 Transaction limit/day: N60,000 Maximum allowed transaction: N20,000

For each transaction a notification of success or failure is sent to the initiator In case of failure, reason would be given whenever possible

Charging principles There are two types of charging cases: 1. Sufficient funds 2. Insufficient funds Sufficient funds Charges to a customer will be applied on top of the requested amount. For example, a customer who wishes to send N1000 to another Mobile Money user will be charged (debited) the N1000 for the principal and N50 for the fee, N1050 in total. The charges (debits) are recorded as separate entries into the customer account. Insufficient funds For cases when a customer doesn t have enough money in his account to cover the intended amount plus the fees that would be applied, there will be an error message from the system stating Insufficient funds

Here we would like to get the system to tell the customer how much the fee is, and what is available for use for that specific transaction.

Account funding (cash-in) Customers can fund their accounts using a specially designed Mobile Money scratch card

Dealer deposits Dealers can deposit money at the GTBank into their GTBank account. They can then transfer money into their Mobile Money account. No account balance limit No transaction limits

Cash pay-out A daily transfer and cash-out limit (preliminary range of N30,000 N60,000) A monthly transfer and cash-out limit (preliminary range of N200,000 N300,000) The individual will be charged a fee for getting cash pay-outs at Dealers and/or ATM (transferred from Mobile Money account to an MTN bank account) Dealers are also charged for withdrawals but at a lower fee

Airtime Airtime purchase is intended for commercial launch. Once the market has embraced the concept of Money Transfer, MTN intends to enhance the service features to include airtime purchase, bill payment etc. When airtime is available,. Within the minimum and maximum prepaid airtime recharge limits, customers can buy any value of airtime. Minimum and maximum recharge limits TBD Airtime top-ups can be initiated by either post- or prepaid users but the beneficiary must be a prepaid user A customer must have funds in his account to be able to perform any Mobile Money transactions. The minimum amount balance of the fund will depend on the transaction type. Customers will be charged a fee for airtime top-ups Dealers do not receive a commission on airtime top-ups

Balance Individuals can check balance free of charge for the first 5 (TBD) times in a month. Subsequent checks will be charged according to price model

Mini-statement Individuals can view the last 5 transactions on an individual account Individuals cannot request for mini-statement on his phone for a Mobile Money account different from that of his phone The individual is charged at the moment of requesting the mini-statement according to price model

SIM Swap SIM swap shall take place as part of the activation process The Dealer should instruct the customer on how to perform the SIM swap

Dormancy There must be a notification from MTN to the bank on the dormancy status of an account about to be de-activated Every other event regarding a mobile account balance after the mobile phone number has been quarantined will follow applicable banking regulation in Nigeria (bank to specify)

Loss/Theft If a customer loses his phone (and SIM) he must go to a Dealer/Handler who will contact the call center to de-activate the old phone number The customer will be authenticated by the call center using the memorable data stored at registration The account will be suspended until a SIM SWAP is done When the SIM SWAP is done, Mobile Money back office contacts the customer to re-activate its account

Account Suspension When a customer enters the wrong PIN three times, his account is suspended To re-activate his account he must go to a Dealer/Handler who will contact the call center to reset the PIN upon authentication of the customer by the call center using memorable data

A log of account suspension through wrong PIN-attempts will be kept

De-activation/Account closing An account with positive balance does not get de-activated. The associated SIM must remain active on the network even if there is no revenue generating activity Account with zero balance can get deactivated When a SIM has been marked for de-activation on the network, a notification will be sent to Mobile Money back office to de-activate the account. If during the SIM de-activation process, the account holder makes a deposit on his account, the deactivation process is stopped If there is no deposit made during the SIM de-activation process, and the SIM is deactivated, the Mobile Money account is also closed When a SIM is deactivated, the MSISDN is put in quarantine for at least 12 months (to avoid, people transferring to the account accidentally) Account number cannot be re-allocated

Functionality flowsThis section describes the functionality flows available to the users of the system, i.e. individual Mobile Money account holders and Corporate Mobile Money account holders with the focus on the mobile access channel. The following functionality is available on the individual account holder s Mobile Money menu on their mobile phone:

CUSTO ER ME UCard # Ti r 1 Ti r 2 Register enu 0.1 Selec ccoun P

Ti r 3

Ti r 4 Fi lds

T pe ID Number Selec Accoun PIN epea Accoun PIN

0.2 Dial Call Cen re

Tr ns ti n enu 1 Send Money Phone-to-Phone Mobile Nr. epeat Mobile Nr. Amount ef. Text (optional) Confirm Account PIN Phone-to-Ca h

Amount ef. Text (optional) Secret Code epeat Secret Code Confirm Account PIN Name Amount ef. Text (optional) Confirm Account PIN Amount eference Nr. Confirm Account PIN

Favourite eceiver

2 Pay Bill

3 Buy Airtime Amount Mobile Nr. epeat Mobile Nr. Confirm Account PIN

4 Load Account From cratch Card

cratch Card PIN Confirm Account PIN

HIDE ON PHONE From My Bank Account HIDE ON PHONE HIDE ON PHONE HIDE ON PHONE HIDE ON PHONE 5 Allow Cash-Out Cash-Out ON Account PIN Cash-Out OFF Account PIN 6 Manage Account Check Balance Account PIN Request tatement Manage Favourites Add Favourite Name Mobile Nr. Repeat Mobile Nr. Account PIN Delete Favourite Name Confirm Delete Account PIN Change Account PIN Current Account PIN New Account PIN Repeat New Acct PIN Manage Bank Card Link Bank Card Card Nr. Repeat Card Nr. Account PIN Bank Card ON Account PIN Bank Card OFF Account PIN

Amount Confirm Account PIN Bank PIN

Account PIN

My

eb Login eb creen Nr. Account PIN

7 Dial Call Centre

Pricing Cash funding of individual accounts is free, while a commission is paid for to Dealers by MTN Individuals will not pay account maintenance fees and there is no minimum balance associated with the account

Dealers will pay a monthly account maintenance of NXXX fees payable in advance every 6 months (TBD) Money transfers and cash-out are charged for according to the price model

Distribution Model Dealers (and their handlers) register and service individuals Each individual registered belongs to a Dealer (the one of the Handler who registered the user) a Dealer code will be associated to the customer MM account Dealers receive commission for all services performed by their handler (TBD) How the Dealer compensates its Handlers is managed outside of the system. However, the system will provide detailed information to the Dealer on transactions performed by each Handler Mobile Money will pay a commission per registered individual To enroll- and support Dealers/Handlers, Mobile Money field agents will be deployed. The current MTN sales forces (account executives) will be leveraged upon to a large extent Field agents do not have any particular right in the system and their management will be done outside of the Mobile Money platform

Mobile handset experienceBelow is an example of what the service will look like in the eyes and hands of the customers. Use-case: Money Transfer from one Mobile Money account to anotherRegister Pay to

1. Select Pay To

B uy My account My security Call help desk

2. Select Mobile Account

3. Enter the account number you want to pay to

4. Enter the amount you want to pay

5. Enter a reference message to appear on the recipient's statement

6. Press OK to Confirm the details of the payment you wish to make. Should the details be incorrect, press cancel

7. Enter your Account PIN

Customer benefits comparison current options vs. MTN Mobile MoneyMTN Mobile Money promises to provide convenience via a service that is more easily accessible than alternative, at a lower cost while offering speedy transfer and high reliability. Current options Accessibility Senders and receivers must find retail points (mostly bank branches) that are participating in the scheme. There are just over 2000 bank branches across Nigeria Senders and receivers fill forms (KYC) every time they use a money transfer service. This is highly repetitive and involves a lot of paperwork Customers have to travel to a retail outlet each time they want to use a money transfer service MTN Mobile Money MTNN has over 40,000 retail points across Nigeria compared to about 2000 bank branches available for traditional money transfer With MTNN mobile money, customers only need to fill a form once (KYC at registration) subsequent transfers are done from the comfort of the phone without having to repeat registration

Speed

Once registration is done, customers can either transfer money from an existing bank account (for customers with a bank account) or top-up their mobile money account with the ubiquitous MTN scratch card. All these happen on the mobile phone and is in line with current habits Working with one of Nigeria s largest / most reliable bank and a network of trusted trade partners, MTNN Mobile Money will guard against the risk of robbery and loss in transit

Trust

Cost

Some customer who do not understand/ want the hassle of form filling currently transfer money via taxi . There is a high likelihood that this will not get delivered given the high rate of diversion for other uses or robbery The more informal the transfer means, the higher the likelihood of a high fee. Thus, the umbrella dealers charge about the highest

Mobile Money aims to charge a very affordable fee for money transfers (a fixed fee below N5000 and 1% for higher values). This is possible because of the lower cost of messaging on the MTN network To realize a good return however, we need to ensure the parties in the chain are manageable and do not constitute an unnecessary cost on the system