Eyowo is a versatile digital payment platform that provides individuals and businesses with convenient financial solutions. While Eyowo doesn’t have specific features designed for making money directly on the platform, there are several ways you can leverage its capabilities to enhance your financial activities and potentially increase your earnings.
In this comprehensive review, we will explore various strategies that can help you make money using Eyowo.
What is Eyowo?
Eyowo is a digital payment platform that provides users with the opportunity to send and receive money instantly. The platform is accessible via the Eyowo app, which is available for download on both iOS and Android devices.
The platform was established in Nigeria in 2019 and has quickly gained popularity as a reliable, safe and fast payment solution for users. Eyowo allows for transactions between individuals, as well as between individuals and businesses.
With Eyowo, users can easily make payments for a wide range of services including bills, airtime, and internet subscriptions. Additionally, users can also receive payments from friends, family and business associates with ease.
Overall, Eyowo is an innovative payment platform that simplifies the payment process for its users, allowing for secure and hassle-free transactions.
Features Of Eyowo
Eyowo is a modern payment platform that is designed to simplify financial transactions for individuals and businesses. Some of the outstanding features of Eyowo include:
- Secure Transactions: Eyowo employs advanced security measures to ensure that all transactions made on the platform are secure. Users are required to set up a PIN code to authenticate every transaction, and all transactions are encrypted to protect the users’ personal and financial information.
- Multiple Payment Options: Eyowo offers multiple payment options, including bank transfers, card payments, and USSD payments. This makes it easier for users to send and receive money from any part of the world, regardless of their preferred payment method.
- Budgeting and Financial Management: Eyowo allows users to manage their finances better by setting up budgets and tracking their spending. Users can also monitor their account balance and get real-time updates on their transactions.
- QR Code Payments: With Eyowo, users can make payments using QR codes. This feature allows merchants to accept payments from customers easily and quickly.
- Mobile App: Eyowo has a mobile app that is available for download on both Android and iOS devices. The app offers users a seamless and user-friendly experience, making it easy to manage their finances on the go.
How To Make Money On Eyowo
Below are ways to make money on Eyowo.
- Business Transactions: One way to make money with Eyowo is by integrating it into your business operations. By accepting Eyowo payments from your customers, you can streamline transactions and provide a convenient payment option. This can attract more customers who prefer using Eyowo, potentially increasing your sales and revenue.
- Freelancing and Online Services: If you offer freelance services or sell products online, Eyowo can be a valuable payment method. By including Eyowo as one of your accepted payment options, you expand your potential customer base. This can lead to increased sales and opportunities to generate more income.
- Referrals and Recommendations: While Eyowo doesn’t have a formal referral program, you can still earn money by recommending Eyowo to others. By introducing new users to the platform, you help them discover the convenience of Eyowo’s services. You may even negotiate referral incentives or receive commissions from any business transactions they conduct using Eyowo.
- Partner Opportunities: Keep an eye out for partnership opportunities with Eyowo. The platform occasionally collaborates with businesses and organizations on promotional campaigns or special offers. Participating in such partnerships can provide you with opportunities to earn rewards, incentives, or exclusive benefits.
- Financial Management: Eyowo offers tools and features that can help you manage your finances effectively. By utilizing these resources to track your income, expenses, and savings, you can gain better control over your financial situation. This, in turn, can help you make informed decisions, optimize your budgeting, and potentially save money in the long run.
- Leveraging Eyowo’s Network: Eyowo has a vast network of users, including individuals, businesses, and organizations. By actively engaging with this community, you can discover networking opportunities, potential clients, or collaborations that can contribute to your financial growth. Building relationships within the Eyowo ecosystem can open doors to new business prospects and income streams.
It’s important to note that while Eyowo offers opportunities to enhance your financial activities, success ultimately depends on external factors, such as your business model, market demand, and personal efforts. To make the most of Eyowo, stay updated on its features, explore potential collaborations or partnerships, and leverage Eyowo’s capabilities as a payment solution to enhance your overall financial strategy.
Eyowo Fees and Charges
Before you start using Eyowo, it’s important to know the fees involved. Here are the key fees you should be aware of:
- Transaction Fees: Whenever you make a transfer or payment using Eyowo, you’ll be charged a small fee. The fees vary depending on the transaction type and the amount involved. However, the fees are generally lower than those charged by traditional banks.
- Account Maintenance Fees: Eyowo charges a monthly account maintenance fee of N45. This fee is deducted from your account balance at the beginning of every month. However, the fee is waived if you maintain an average daily balance of N5000 or more.
- Cash Withdrawal Fees: If you withdraw cash from an Eyowo agent, you’ll be charged a fee of N45. The fee is deducted from your account balance immediately after the withdrawal.
- ATM Withdrawal Fees: If you use your Eyowo card to withdraw cash from an ATM, you’ll be charged a fee of N20 per withdrawal. However, you can withdraw up to N50,000 per day without incurring any additional fees.
- Card Replacement Fees: If you lose your Eyowo card or it gets damaged, you’ll need to get a new one. Eyowo charges a fee of N500 for card replacements.
Nevertheless, the fees and charges on Eyowo are very reasonable. In fact, they are significantly lower than those charged by traditional banks. Plus, with the ability to earn money through the Eyowo referral program, you can easily offset any fees and charges incurred.
How do I borrow money from Eyowo?
Eyowo does not currently offer a borrowing feature or loan services. It primarily functions as a digital payment platform, facilitating transactions and providing financial solutions. If you’re looking for borrowing options, you may explore other financial institutions or lending platforms.
What is the interest rate of Eyowo?
Eyowo does not publicly disclose an interest rate as it is not a lending or savings platform. However, it’s important to note that Eyowo primarily focuses on providing digital payment services and enabling financial transactions rather than offering interest-bearing accounts or loans.
Who is the parent company of Eyowo?
Eyowo is a product of Eyowo Integrated Payments Limited, a Nigerian financial technology company. The company is independent and operates as a separate entity.
What is the USSD code for Eyowo?
To access Eyowo services via USSD, you can dial *4255# from your registered phone number. This will provide you with a menu of options to perform various transactions, such as sending money, buying airtime, paying bills, and more.
How do I borrow money from USSD access?
USSD codes typically vary depending on the financial institution or lending platform you wish to borrow from. If you’re looking to borrow money using USSD, you would need to identify a lending institution that offers USSD-based loan services and follow their specific procedures, which may involve dialing a specific USSD code and following the prompts provided.
In conclusion, Eyowo provides a versatile platform that empowers individuals and businesses to make money through its digital payment solutions. By following the comprehensive steps outlined in this guide, you can position yourself for success in leveraging Eyowo to generate income and build a thriving business.