VARMSTRA MOBILE MONEY (MoMo)
Varmstra is a company that is building an ecosystem to enable people to digitally send and receive money, and creating simple financial access for everyone. To achieve this gold, we have partnered and will still be partnering with top mobile money providers in different countries across Africa and to the world at large. Currently, we have a strong partnership agreement in Nigeria to offer mobile money accounts to all Nigerians home and abroad who own a BVN and valid Nigeria phone numbers.
What Is Mobile Money?
Mobile money is an electronic wallet service. This is available in many countries and allows users to store, send, and receive money using their mobile phone. This safe and easy electronic payments make Mobile money a popular alternative to bank accounts. It can be used on both smartphones and basic feature phones.
Where Can My Recipient / I Subscribed For A Mobile Money Account?
Mobile money is available in a large number of countries and is especially popular in places where people are less likely to have bank accounts. Most mobile money services are offered by local mobile telecoms operators who have received a license to operate electronic payments services. Some mobile money services are offered by banks or other companies. To register, the customer needs to visit their local mobile money reseller and bring a form of identification, such as a valid passport, driver’s license or a government ID. For further details on how to register for a mobile money account, visit the website of your local Mobile money provider. For Nigerians and it residents, they can register for one right here on varmstra.
Frequently asked questions
How Does Mobile Money Work?
Mobile money stores funds in a secure electronic account linked to a mobile phone number. In most cases the
wallet number will be the same as the phone number, but not always – they can be different in certain cases.
Before sending funds to a mobile money wallet, please check with your recipient to determine the right
For more information on the services available for mobile money in your recipient’s country, please check the provider’s website or visit one of their authorized resellers
How Secured Is Mobile Money?
Mobile money do applies similar concept like bank account, thus funds held in mobile money accounts are
protected by local financial regulations. Mobile money providers and partners like Varmstra are required to check
the identity of their users - making it much harder for fraudsters and criminals to use these services illegally. We do
achieve this in several ways and this varies as per individual government policies vary too.
Mobile money services store a record of every transaction and account balance, so even if the phone or SIM card is lost or stolen, the user’s money is kept safe. Additionally, every transaction requires identification in the form of an secret PIN or 2FA where appropriate.
For a more detailed information on the legal requirements for mobile money services, please visit the GSMA website here
For a more light about the security benefits of mobile money, please visit your local mobile money provider’s website.
How To Get registered For A Mobile Money (MoMo) Account:
Registering for a MoMo account with Varmstra is hasse free and stress free in just a click.
- Visit our website on varmstra.com and click on the register button
- Enter all the informations as demanded by the form such as email, a valid Nigeria phone number , username etc. and check the button,Sync MoMo and click on the register button.
- Follow the on screen informations to have your MoMo account active.