Orange Money Commissions – OMO
The term commission can be difficult to understand for many whether you are comfortable with money issues or not. For many business professionals, commissions are the thing they work for and they are always glad to take them at higher percentages. With orange money as with all mobile money operators, agents get a commission on deposits and withdrawals made. Orange money commissions are earned by orange money agents though the current economy has in the past months created unpredictable falls in the commission awards.
First things first:
What is this Orange wallet about?
It refers to a set of services offered by the mobile network operator Orange Cameroon to its users. These services permit users of the Orange Cameroon mobile network to create orange money accounts via which they can manage financial transactions from their mobile phones. It uses orange phone numbers as account numbers and does not call for banking institutions at any point. Money can be sent from one account to the other upon payment of a small charge and additional charges are levied when the withdrawals are been done at orange money points.
In comparison to charges paid at banking institutions, orange money is a cheaper option both for account creation and financial transaction management. In Cameroon, orange money services have cut the way to banks where years ago people could be seen forming queues at their premises.
OMO commissions for orange money agents
Orange money agents are the middlemen who facilitate money transactions between end-users by initiating transactions on their behalf. Initially, these agents were stationed at fixed points but now, some are mobile and render service everywhere. All mobile money agents as well as orange money agents are being paid based on the transactions they make. This payment is termed commission and is totally dependent on how effective the agents’ operations are. The 3 mobile network operators that offer mobile money services in Cameroon are Orange, MTN, and Nextel.
The process of becoming an agent is quite simple. All you need do is reach out to the nearest Orange Cameroon office where you will provide answers to a few questions. Once all necessary information is given, you become an agent as soon as you purchase a commercial orange sim card. The most popular orange money agents include:
- Orange distribution partners who want to redistribute the service to smaller retailers.
- Supermarkets, shops, and petrol points who seek to enlarge payment methods.
- Online business persons for whom orange money is the most rapid and safe means of payment.
- Companies who want to include orange money as a means of salary payment for their employees.
Commissions are meant t be a well-deserved compensation to mobile money agents for the services they render in facilitating end-user transactions. Over recent years, however, agents have made known their disarray towards the decrease in commissions they gain on all transactions. In 2017, grievances were openly showed when agents were informed of reductions on their commissions. Initially, commissions obtained were at 0.4% for cash withdrawals and 0.5 for cash deposits but since October 2017, a 50% drop in these commissions.
Orange money is a lucrative business with numerous advantages for users however, the slightest increase in charges levied on deposits, and withdrawals tend to drastically affect the commissions orange money agents can aspire to gain.