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Quickteller Paypoint is the trade name for IFIS (Interswitch financial inclusion services) Agent locations. It’s a one-stop shop where all the products/services provided by IFIS Ltd can be accessed and purchased. Register to become a Quickteller paypoint Agent and start offering financial services.

An agent has access to an array of exciting commissions and incentives as they offer services like Bill Payment, Funds Transfer, Cash Deposits, Cash Withdrawals, Insurance and Airtime Recharge to customers.

1.    Who is an IFIS Agent? 

Any person, corporate or institution appointed by IFIS to provide Agency Banking & Financial Inclusion services on its behalf. Examples of potential agents are:

Individuals – unregistered MSMEs

Registered SMEs e.g. Salons, HoReCas, chemist shops, grocery stores, etc.

Corporates & Retail Chains e.g. filling stations, MFBs, MDAs, eateries, pharmacies, etc.

2.    What are the requirements for becoming an Agent? 

Interested investors must ensure they possess the following qualities and requirements:

1)    Must be able to read and write

2)    Must have a functional android enabled mobile phone

3)    Must have an existing physical shop/business outlet

4)    A completed Agent application form/agreement and account package

5)    A copy of ID or equivalent (Driver’s license, National ID card, Int’l passport)

6)    A Passport-sized photograph

7)    Proof of Address (Utility bills e.g. PHCN, LAWMA, DStv, GOtv, StarTimes, etc.)

8)    Financial/Bank account detail or statements

9)    Items 1-8 above are required to be a Classic or Standard IFIS Agent. However, business registration documents are required to be a Prestige IFIS Agent.

3.    What are the benefits of being an IFIS Agent?

  • Additional income/commission from IFIS services:- agents earn attractive commission for all QuickTeller services which is an additional income line to the agent’s business.
  • Guaranteed volume of transactions due to rich bouquet of products and services:- over 5,000 existing billers & merchants services are available for vending.
  • Increased sales due to increased footfalls
  • Good brand association:– Interswitch brand and growing IFIS network
  • Guaranteed training and dedicated field support
  • Comprehensive branding and marketing support
  • Social relevance to the community –Financial Inclusion services

4.    What is the Agent Registration/Setup Process?

  • Agent completes and submits IFIS Agent Registration Form/Agreement
  • Agent makes provision for the minimum Agent Start-up Capital (N10,000). -Agent funds IFIS operational bank account with the Agent’s minimum start-up capital by either cash deposit or funds transfer for onward credit to Agent’s IFIS account
  • The location and human resource for the agent service are inspected and certified by an IFIS Business support partner (BSP)
  • The IFIS agent account is activated and agent receives login details and a credit alert to the tune of the Agent’s deposited start-up capital
  • Agent undergoes IFIS Agent Banking training and receives the following setup kits
  1. IFIS Certificate of Completion
  2. IFIS ID for identification
  3. Transaction Log Book/Register
  4. An Agent code
  5. Branding materials
  6. Tariff Sheet
  • Agent commences full operations

5.    Classes of Agents

AGENT

TRANSACTION THRESHOLD

BUSINESS CAPITAL REQ

BUSINESS DOCUMENTATION LOCATION ADEQUACY

PRESTIGE AGENT

No debit balance allowed

N200,000

(Minimum)

  • CAC business registered
  • Functional business outlet

(Retail and high Volume outlets)

Minimum amount allowed per transaction 50

  • Form C07,
  • Space capacity to occupy minimum of 5 customers
 

Maximum amount allowed per transaction  100,000

  • Shareholders Information,
  • Storage capacity for POS/ merchandising materials

Maximum spending limit per day 500,000

  • Business Operational Proposal

Maximum spending limit per week 5,000,000

Provide proof of a corporate account

Maximum spending limit per month 20,000,000

Allowed number of transactions per day 300

Allowed number of transactions per week  1,500

Allowed number of transactions per month 6,000

 

AGENT

TRANSACTION THRESHOLD

BUSINESS CAPITAL REQ

BUSINESS DOCUMENTATION

LOCATION ADEQUACY

STANDARD AGENT

Minimum amount allowed per transaction 50

N50,000.00 (Minimum)

  • Business ownership
  • · Functional business outlet
(Mom & Pop Shops)

Maximum amount allowed per transaction  50,000

  • ·Provide proof of account availability
  • · Space capacity to occupy minimum of 2 customers

Maximum spending limit per day 500,000

  • · Provide utility bill

Maximum spending limit per week 2,500,000

Maximum spending limit per month 10,000,000

Allowed number of transactions per day 200

Allowed number of transactions per week 1,000

Allowed number of transactions per month 4,000

 

AGENT

TRANSACTION THRESHOLD

BUSINESS CAPITAL REQ

BUSINESS DOCUMENTATION

LOCATION ADEQUACY

CLASSIC AGENT

Minimum amount allowed per transaction 50

N10,000.00 (Minimum)

  • · Business ownership
  • Functional business outlet

-  Umbrella Points

Maximum amount allowed per transaction 30,000

  • · Provide proof of account availability
  • Space capacity to occupy minimum of 2 customers

 

Maximum spending limit per day 200,000

  • · Provide utility bill

-  Kiosks

Maximum spending limit per week 1,000,000

Maximum spending limit per month 4,000,000

Allowed number of transactions per day 200

Allowed number of transactions per week 1,000

Allowed number of transactions per month 4,000