SUMMARY OF FAIRMONEY PRODUCT TRAINING (by SAMUEL ADOGBEJI).

Due to the recent changes on the Fairmoney app, this product training was organized to keep AMs abreast of
the new developments on the Fairmoney app inorder to effectively guide customers on it usage.
1. WALKTHROUGH SCREEN: After downloading the FairMoney App from Google play store and opening it,
the first thing seen is the “Walkthrough screen” (swiping from LHS to RHS) as seen in the picture below:

2. LOGIN (RETURNING CUSTOMER): For a returning customer, he/she needs to login to the app with the
registered “phone number” and “PIN”. If a customer has forgotten his PIN, he needs to click on “Forgot
your pin” as seen in the image below and a validation code will be sent to that same phone number and
the customer can create another PIN.
3. HOME PAGE (Home screen): If the login is successful, below are the home screen for the “New
customer (yet to take a loan)”, “Returning customer (with active loan)” and “Returning customer (have
taken and repaid loan before)” respectively from left to right.

4. BOTTOM MENU: For a returning customer, when you click on the “Airtime” section of the bottom menu,
the image on the LHS of the picture below is seen. Here, customers can buy Airtime, Data (MTN, Glo,
Airtel and 9mobile), Internet (Smile, Spectranet, Swift and ipNX) and subscribe for Cable TV (GO-TV,
DSTV and STARTIMES). Clicking on the “Transaction” at the bottom menu also displays the customer’s
previous transactions on the app as seen in the picture below (middle one). Also, the customers can only
see their referred persons (invited friends) under the account menu as seen on the RHS of the picture
below:
 More so, when you click on the “Account” section at the bottom menu, the image below (LHS) is seen.
Here, the customers can see their invite link (for referrer purpose), view their previous transactions
(whether for loan, data or airtime), view their linked Debit card and add a new one as seen below.

5. LOAN APPLICATION: For a returning customer that wants to apply for a new loan, the customer clicks on
“See offers” from the dashboard. The customer will see his personal details and his guarantor’s details
filled while creating the FairMoney account. If the Customer needs to update any detail, he can, then
move on with the loan application process. If all personal details are okay and customer consents to the
terms of use, he will be shown the amount he is eligible to borrow, and he inputs the desired amount and
select his loan period as displayed on the app. See the images below. To effectively process the loan offer,
the app will request for access to the customer’s camera, contacts and location which needs to be
granted otherwise, the loan process might be halted.
 Once the loan amount offered has been disbursed to the customer, the money goes direct to the wallet
(account) on the FairMoney app as seen in the picture below (top LHS). To transfer the money to a
desired bank account for withdrawal or usage, the customer clicks on “Send money” from the dashboard
and input account details to transfer to.

6. LOAN TOP UP (NEW UPDATE): After the customer has been given a loan and the loan is ongoing (yet to be
repaid) , the customer is given the option to “top-up” the principal amount initially collected if the initial
amount taken was lower than limit offered when applying from the beginning. The customer clicks on
“Manage loan” from the dashboard, enter in a desired amount and the loan details are recalculated as
shown in the picture below (RHS):
7. WALLET (ACCOUNT) FUNDING: Customers can fund their FairMoney wallet (account) in two ways namely:
Bank Transfer and USSD Transfer. Click on “Fund Account” from the dashboard, click on “bank transfer” and
the Wema or Sterling account details are displayed. For the USSD option, click on “Fund Account”, click on
“USSD Transfer”, a box is displayed to input the desired amount to transfer. The app automatically generates
a payment code with the amount and desired bank name as seen in the picture below (RHS). The applicable
bank is selected and the code is dialed which takes the customer to the phone dialer. The customer then
finishes the payment process with his bank USSD PIN.
NB: The customer must ensure he is dialing the generated USSD payment code from the app with the phone
number he registered with the bank account.

Once the wallet is successfully funded with the desired amount (₦230 as seen in the picture below), the
money reflects in the wallet account (top RHS).
8. PAYING BEFORE DUE DATE: Every customer is offered an “early discount” amount as indicated in
the green box above the manage loan on the dashboard but only those who make payment early are eligible
for the discount offer as seen in the picture below (LHS):

9. LOAN REPAYMENT VIA THE FAIRMONEY APP: Customers can repay their loans via the FairMoney app in
four ways namely: Debit card, Wallet (account), Bank Transfer and USSD Transfer as seen in the picture
below (RHS). For Debit card payment option, click on “Repay Loan” on the dashboard, click on “full loan
amount” (when making full payment) or a desired amount is inputted inside the rectangular box beneath
the full loan amount as seen below (middle picture). The customers debit card that is linked is displayed
and if the card is still active and the bank account funded, the customer clicks on the debit card to effect
the payment process. A new debit card can be added as well by clicking on “New Card” as shown below
(RHS):
 For Bank transfer and USSD transfer payment options, the customer clicks on “Repay Loan” on the
dashboard and then clicks on the “full loan amount” or input a desired amount; click on Bank transfer (LHS)
or USSD transfer option (middle picture) as applicable as seen in the picture below. Thereafter, the
customer gets a notification after a successful payment process as seen below (RHS):

10. FAIRMONEY TERMS OF USE: Before the loan amount is being disbursed to customers, it is important
they agree to the terms of use as seen in the picture below (LHS) otherwise the loan amount will not be
disbursed.
11. FAIRMONEY INVESTMENT (NEW UPDATE): FairMoney now gives customers and members of the
public the opportunity to invest their money with a guaranteed annual 21% return on investment but the
minimum amount required is One hundred thousand naira (₦100,000) as seen in the picture below:

12. FREQUENTLY ASKED QUESTIONS (FAQ): Some of the frequently asked questions and answers as
regards the usage of the FairMoney app are stated in the picture below. AMs are to take not of these in their
communications with customers.
NB:
1. AMs are encouraged to download the FairMoney app and do a “test run” for proper understanding. This
will go a long way to improve AM’s knowledge reserve in guiding customers to make repayments.
2. FairMoney is now a Microfinance bank and now issue Debit card (ATM Cards) to customers.