• XpressPayments

How to Successfully Become financially Independent

The exponential boom of Agency Banking businesses in Nigeria is evidence of the popularity of innovative banking services and their easy-to-access nature to the unbanked communities. While some SMEs have continued to regress due to one economic challenge or the other, Agency Banking businesses have soared in numbers across the country. With most of the profits coming from commission and service charges for the operators, it’s almost safe to say you cannot get it wrong with the agency banking venture.

The Agency Banking business basically involves the transfer of funds, withdrawal of funds, sale of recharge cards and bill payments like DSTV, GoTV, Startimes, JAMB registration PIN, PHCN bill services etc.


To start a lucrative Agency Banking business in Nigeria, an ideal location, a suitable space or shop, signage, capital and an already established business are essential.


Location is critical to starting an Agency Banking business. Your location will determine how much you can earn daily. The most lucrative place to establish an Agency Banking business is usually populated rural suburbs and communities that have low access to commercial banks or ATMs.


The next step is getting a space or shop in that location. If you already have a shop for other businesses, you can run an Agency Banking business in the same space. To create awareness, put up signage to advertise your trade. It is easier to locate you when there is signage by your shop advertising the services you provide.


Just like every other business needs one form of capital or the other to start, Agency Banking business is no different. Having an initial fund when you start the business helps to kickstart it when customers come to withdraw funds from their accounts.


The basic requirements of becoming an agency banking operator with Xpress Agent include:

A. An existing physical business outlet/location


B. A functional mobile phone number


C. A copy of any statutory ID card (Driver’s license, National ID card, Int’l passport, or PVC)


D. Duly completed Guarantor’s Form with Guarantor’s ID card & Passport photograph.


E. A Passport-sized photograph


To register:

1. Download the Xpress Agent Mobile App on Google Play Store


2. Documentation:

i. A completed Agent application form & agreement.


ii. A copy of ID (Driver’s license, National ID card, Int’l passport, Voter’s card).


iii. Recent utility bill (not later than 3 months)


3. Verification & Funding:

i. Agent’s address verification is carried out upon registration.


ii. Fund your account


4. Training & Branding:

i. Agent gets shortlisted and trained.


ii. Agent gets branded and receives starter pack.


iii. Agent commences full operation.


iv. Agent starts earning money.


After your application is considered, you will be supplied with the following tools by Xpress Payments to start operation:


Point of Sale Terminal

Card reader

Barcode scanner

Personal identification number (PIN)


These are the basic requirements to starting an Agency Banking business with Xpress Payment Solutions Limited. However, if you need more information, you can reach out to us. We will be more than glad to answer all your questions.

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