Dear MTN Mobile Money Team,
I hope you are doing well.
My name is Maurice, and I am the founder of Bank of West Africa (BWA), a digital-first financial platform currently in the process of integrating with the MTN MoMo Open API for collections, disbursement, and remittance services.
We are excited about the opportunity to partner with MTN Mobile Money and bring enhanced financial access across West Africa. However, while reviewing the onboarding documentation and requirements, we encountered a few areas where the current forms and questionnaires appear to be structured primarily for traditional merchants, agents, or remittance operators.
Bank of West Africa operates as a fintech platform offering:
- Digital banking services
- Mobile wallet infrastructure
- QR code payments
- Virtual cards
- Remittance and cross-border transactions
- Bill payments and mobile top-ups
- Installment-based financial services
As such, some sections of the Merchant Application Form, KYC requirements, and AML questionnaire do not directly align with our operational model—particularly areas related to:
- Individual merchant registration details
- Agent network structures
- Physical cash-handling locations
- Sole proprietorship or small business classifications
Given this, we would appreciate your guidance on the following:
1. Should BWA be onboarded under a different partner category (e.g., fintech, payment service provider, or aggregator) instead of a standard merchant profile?
2. Are there alternative onboarding forms or documentation specifically designed for digital financial institutions or API-based partners?
3. How should we appropriately complete sections related to agent networks and cash handling, considering BWA operates primarily as a digital platform?
4. Are there specific regulatory or licensing documents you would require from fintech platforms operating across multiple regions?
We want to ensure full compliance with MTN’s requirements, including AML/CFT obligations, and provide accurate and relevant information during onboarding.
Please let us know the best way to proceed or if a call can be scheduled to align on the correct onboarding pathway.
We look forward to building a strong partnership with MTN Mobile Money.
Kind regards,
Maurice J.
Founder
Bank of West Africa (BWA)
Website: Bankofwestafrica.com