NowNow

Author: Lucy Akokotu

  • Mistakes Small Business Owners Make (And How to Avoid Them) in 2025

    Mistakes Small Business Owners Make (And How to Avoid Them) in 2025

    Running any business is tough and twice as hard for a small business. You’re juggling things like finding customers, managing finances, handling marketing, and keeping everything running smoothly. But what if I told you that some of the biggest challenges you face come from avoidable mistakes? Here are the most common mistakes small business owners make in 2025 and more importantly, how you can avoid them. 

    1.  Ignoring Online Presence

    Customers expect you to have an online presence. Relying solely on word-of-mouth or a physical location is a risky move in 2025. How to Fix It:

    • Get a simple, mobile-friendly website with clear contact info and your products/services.
    • Use Google My Business to appear in local searches.
    • Be active on at least one social media platform where your customers hang out.

     

    2. Underpricing Your Products or Services

    If your prices are too low, you’re here doing your business more harm than good. Yes, it might attract customers, but it can kill your profits and run you out of business in no time. What you can do is to;

    • Check out what your competitors are charging. Then, price yourself fairly, not desperately.
    • Focus on value, not just price. Think better quality, exceptional customer service, unique products etc
    • Offer different pricing options for different budgets.

     

    3. Neglecting Customer Experience

    People don’t just buy products, they also come because of the experience. And if your customer service isn’t top notch, they’ll go and never return. To maintain exceptional service you need to respond to inquiries quickly and professionally. Call your customers by their names, ask about previous purchases. These plus offering other loyalty rewards will keep them coming back.

    4. Not Tracking Your transaction 

    This one’s big. Cash flow issues are the #1 reason small businesses fail. If you don’t know what’s coming in and going out, you’ll be in trouble.  Use free tools like QuickBooks to track income and expenses no matter how small. 

    5. Trying to Do Everything Alone

    You might think being a jack-of-all-trades saves you money but it’s actually holding you back. Know your strengths. Employ or outsource the ones beyond you. Also learn to ask for help.  Trying to do it all alone isn’t sustainable. Remember, your time is your most valuable resource, use it wisely.

    6. Relying on One Marketing Channel

    Only using Instagram? Just relying on word-of-mouth? Bad idea. If Instagram algorithm changes or referrals dry up, your sales could take a hit. Instead, use a mix of social media to or partner with other small businesses to expand your reach.

    7. Ignoring Feedback (or Taking It Too Personally)

    Learn to separate your business from your personality.  For instance, if a customer gives you constructive criticism, that’s gold, not an attack. Take the feedbacks or even casual complaints seriously and fix them to grow your business.

    8. Not Having a Clear Unique Selling Proposition (USP)

    What makes you different? If you can’t answer that, neither can your customers. Being “affordable” or “high-quality” isn’t enough. Figure out what makes you different from your competitors and add it in your branding and marketing strategy. 

    9. Neglecting Customer Relationships

    It’s easier (plus it’s way cheaper) to keep an existing customer than to acquire new ones. For example, follow up with customers after a purchase.  Ask how they liked it. Also create a community whether it’s Facebook or Instagram. These Loyal customers will tell their friends about your business free of charge.

    Bottomline

    Mistakes are part of the journey, but learning from them can save you time, money, and stress. By avoiding these common pitfalls, you’ll be setting your small business up for success in 2025 and beyond. What’s the biggest challenge you’re facing in your business right now? 

  • 5 Ways To Identify Growth Opportunities For Your Small Business in 2025

    5 Ways To Identify Growth Opportunities For Your Small Business in 2025

    As a small business owner, you’re always looking for ways to identify growth opportunities and business success in a competitive market. Unlike big competitors with huge budgets, you have to think smart, act fast, and be creative to stay ahead. Plus growth doesn’t always mean spending more, it’s about spotting the right opportunities and making the most of what you already have.

    Here are five practical ways to identify opportunities to grow your small business in 2025.

    1. Ask Your Customers What They Need

    Your customers are constantly giving you hints about what they need, you just have to listen. Start by paying attention to the things they keep looking for. If customers keep requesting a product or service you don’t offer yet, that’s a sign of demand. Take for example, if you offer instant payment or bill payment services and customers ask about school fee payments, why not explore adding that too? The easiest way to identify growth opportunities for your small business is to find out what your customers need. Ask them directly or just note down the common requests you get.

    2. Look for Untapped Markets in Your Area

    Growth isn’t just about adding new products, it’s also about reaching new customers. For instance, if you sell clothes, are you catering to different sizes and styles? Maybe you’ve been focusing on regular sizes, but there’s demand for plus-size fashion. You don’t always need expensive marketing to reach new customers. Sometimes, a simple word-of-mouth referral, a flyer, or a post in a local WhatsApp group is all it takes to introduce your business to a whole new audience.

    3. Expand Your Services or Product Line

    If you’re mostly selling airtime or doing agent transactions, ask yourself if you can offer more. Could you add bill payments, insurance services, or mobile money transfers? If you run a small shop, would snacks, bottled drinks, or everyday essentials bring in more sales?

    Diversifying what you offer is one of the fastest ways to growth opportunities for your small business. But don’t feel pressured to add everything at once. Start small, test demand, and expand gradually.

     Action Tip: Introduce one new product or service and see how your customers respond before adding more.

    4. Use Technology to Work Smarter

    Technology isn’t just for big businesses, it can make a huge difference for your small businesses too. A WhatsApp Business account can help you take orders, answer customer questions, and even send promotions. Already using some tech tools? See if there’s a way to maximize their benefits and make running your business even smoother.

    5. Check Out Your Competitors

    Your competitors can teach you a lot both what to do and what to avoid. For instance, what are they doing well that’s attracting customers? Maybe they’re offering a unique service, or simply giving better customer service.
    Another way of looking at it is to look for gaps in their service that you can fill. If customers often complain about slow service or a lack of certain products, this could be your opportunity to step in and do better.

    Remember, you don’t have to copy what others are doing, rather paying attention to the competition can give you valuable ideas for improving your own business.

    Bottomline

    Using these tips will identify growth opportunities for your small business in 2025.

  • How To Make Your Money Last in 2026

    How To Make Your Money Last in 2026

    As we eagerly approach the new year, thoughts of financial resolutions naturally come to mind. In the face of economic uncertainties and the ever-increasing cost of living, effective expense management becomes crucial. The burning question remains, “How can you make your money last longer in 2026?” Here are 8 practical tips to help you trim costs and recession proof yourself in the coming year.

    1. Live within your means

    The festive season, filled with merriment (lots to eat and drink) and razzmatazz, is undoubtedly the most wonderful time of the year. But guess what? It’s also a period, where overspending can easily strain your budget and lead you to dip into your life savings. So, consider thoughtful spending to prioritize financial stability over temporary pleasures. Resist the urge to go overboard to impress friends and family. Believe me, you don’t want to spend the new year playing financial catch up.  

    Tip: Use a card like NowNow debit card, to gain better control of your financial spendings. Use the set limit features to determine how much you want to spend daily, weekly or monthly.

    2. Transportation

    The rising fuel prices is affecting everyone’s pockets. To navigate this challenge, think of ways to cut daily transportation costs. For instance, if you are commuting long distances from Mowe to Lagos Island daily, consider relocating closer to your workplace or finding temporary accommodation near your office. This move not only saves money but also reduces stress and supports mental well-being.

    Additionally, carpooling with colleagues to work, or utilizing public transport to further reduce expenses. The less Uber or Taxify ride you book, the better for you.

    3. Eat out less

    Fast food and eating out sounds great. However, herein lies a problem! it’s easy to lose track of how much money you are spending.  Instead of ordering food daily, save money by preparing and packing your lunch from home during the week. This will help you cut down on expenses and also promotes healthier eating habits.

    4. Get Remote or Hybrid Job 

    In the era of digital work, consider exploring job opportunities that offer hybrid or remote work options. Let’s not forget the amount of stress associated with commuting to work everyday, especially in cities like Lagos with lots of traffic. Making a shift to hybrid or remote, can help you stretch the money you have, so it lasts longer. 

    5. Buy foodstuff in Bulk

    In this current economy, if you buy something today, the price is never the same when next you want to buy it– especially for food items. Giventhe fluctuating prices of food items, buying in bulk can be a cost-effective strategy.   Visit local markets to stock up on essentials like rice, beans, yam, garri, palm oil, vegetable oil and other non-perishable foodstuff in larger quantities. This approach ensures you worry less about food, minimizing the impact of prices in the market.

    6. Sell Online 

    You don’t need a brick-and-mortar store, especially if rent is a concern. Many businesses are struggling to cope with the impact of inflation and making profit. This makes online selling an attractive alternative. Leverage social media platforms like Facebook, Instagram, and Twitter for cost-effective advertising, allowing you to reach a wider audience without the overhead costs of a physical store.

    7. Mindful Socializing

    While socializing is enjoyable, it often comes with expenses. Plan your budget and reduce the frequency of outings to bars and restaurants. Consider limiting such activities to once or twice a month to explore new places. Regularly going out to chill can spell trouble for your finances. And you really do not want to carry that into a new year.  So, strategic planning ensures you enjoy leisure without compromising financial stability.

    8. The 30-Days Rule

    Have you noticed since October till date it’s been one promotion or the other? Independence sales, black Friday, Christmas sales, New years sales. One thing they have in common is promotions and sales. Apply the 30-day rule before indulging in discounts.  Wait for 30-days to evaluate if the item is a necessity or just a fleeting desire. This rule helps you make more informed and deliberate spending choices.

    In 2026, let these practical tips serve as a guide to financial prudence. By incorporating these tips into your lifestyle, you can better control your money and navigate the economic landscape with greater financial resilience and a clearer path to achieving your financial goals.

     

  • How To Register Your Business name with CAC on MyBiz Dashboard in Minutes

    How To Register Your Business name with CAC on MyBiz Dashboard in Minutes

    In line with the Central Bank of Nigeria’s new guidelines, Super Agents, Merchants, and Point of Sale (POS) operators are required to register their businesses with the Corporate Affairs Commission (CAC).  Previously, the registration process for merchants was lengthy and stressful process.

    But now, you can easily register your business with CAC directly from your MyBiz dashboard in just a few minutes.

    Here’s what you need to know about obtaining your CAC certificate, why it’s crucial for your business, and how you can complete the registration on MyBiz.

    What is a Corporate Affairs Commission (CAC) Certificate?

    A Corporate Affairs Commission (CAC) certificate is proof your business or company name is officially registered in line with the  Companies and Allied Matters Act 2020 (CAMA).  By registering your business, a unique registration number and certificate confirms your legitimacy and compliance with Nigerian corporate law.

     

    What is a Tax Identification Number?

    A Tax Identification Number (TIN) is a unique nine-digit number issued from the Federal Internal Revenue Service (FIRS). 

    Benefits of Registering Your Business with the CAC on MyBiz

    Of course you may be thinking that these requirements are unnecessary. Here are 5 key benefits of registering your business.

    Convenience

    Save yourself the stress of searching for where to register your business for CAC certification. Complete the process from your MyBiz app, anywhere you are. 

    Legal Protection

    When you register your business, it gains legal recognition and protection. No one else can use your business name without your consent. 

    Business Bank Account

    With your CAC certificate, opening a business account separate from your personal finances is possible and  adds professionalism to your POS operations.

    Trust and Credibility

    Customers are likely to trust your POS or small business when they see your business is officially registered. It tells them that this is a trustworthy person, increasing your credibility and boosting your brand image.

    Sanctions and Restrictions

    Registering your businesses saves you stress from downgrades or locked down terminals and more. These happen as a result of sanctions and restrictions on businesses that do not comply with the CBN guidelines. 

     

    How to Register Your Business with CAC on MyBiz

    The MyBiz app makes CAC registration easy and quick.  Simply follow the steps below to begin; 

    1. Step 1: Log in to MyBiz Dashboard

    Click on the CAC registration banner at the top. If you don’t have a CAC number, select “Click here to register.”

    2. Step 2: Fill In Your Personal Details 

    Enter your name, address, street number, city, postal code, state and Local government Area. Then click  ‘‘Proceed’’

    3. Step 3: Upload Supported Documents

    Choose your form of ID (choose NIN, then add your NIN number). Thereafter, upload the front and back of your document.

    4. Enter Business Details

    Fill in your business category and check for the availability of your proposed business name. Once available, provide the necessary business information and upload proof of address (such as a utility bill, electricity, waste disposal bill or water bill).

    Make sure to double-check your details for accuracy. Then click Validate details.

    5. Pay the Registration Fee 

     Complete instant payment on MyBiz app. Enter your mPIN to proceed with payment.  The N19,000 gives you a CAC certificate and TIN.

    6. Registration Pending

     After submission, the CAC will review your application. This typically takes a few business days.

    7. Receive Your CAC Certificate 

    Once your application is approved, you’ll receive your digital CAC certificate via the MyBiz app, ready for download or printing.

    Bottom Line

    In conclusion, register your business with CAC is an important step in staying compliant with CBN guidelines and protecting your venture. Whether you’re a POS operator or run another type of small business, the MyBiz app simplifies the process to complete your CAC registration. Don’t delay. Get your business registered  on MyBiz and enjoy the benefits of having your business recognized in Nigeria!

     

    Frequently Asked Questions (FAQ)

    1. How long does it take to register through MyBiz?
      Registration takes just a few minutes for submission and CAC approval usually takes a few days.

           2. What documents do I need?
            You’ll need an ID like a National Identity Number, Voter’s card, Passport, or Driver’s license. The                             recommended option is your NIN.

            3. Do I have to be tech-savvy to use the MyBiz app? 

    No! The MyBiz app is designed to be user-friendly. It has step-by-step instructions, so even beginners can complete their CAC registration without trouble.

           4. Is the MyBiz app user-friendly?

    Absolutely! It’s designed for all users, even those with little tech experience.

          5. What happens if my business name is already taken? 

    The CAC will notify you if the business name you’ve chosen is unavailable. You can either modify the name or try another until you find an available option.

     

  • 5 Holiday Scams to Avoid As a POS Merchant

    5 Holiday Scams to Avoid As a POS Merchant

    The holiday season is a time for booming sales, and unfortunately, cunning scammers looking to exploit you. As a POS operator  or merchant with a POS device, you’re a prime target for fraud during this busy period, and falling victim could cost you your hard-earned profits. But don’t worry, with the right precautions, you can outsmart these fraudsters. Let’s talk about some common holiday scams you might encounter and how you can protect your money from scammers.

    Update on POS Fraud In Nigeria

    According to the Fraud and Forgeries Report in Nigerian Banks for Q1 of 2024 by the Financial Institutions Training Centre (FITC), POS fraud cases surged by 31.12% over 3,518 POS fraud related cases. 

    The reports shows an alarming rise in fraud cases and you need to do everything to protect yourself and your business

    Here are some common Holiday scams you need to take note of;

    1. Payment Alert Scams

    Scammers often use fake payment alerts to convince you a transaction has been completed. They might show you a “proof of payment” screenshot, but in reality, no money has entered your account. If you fall for it, you might end up losing your money.

    How to Protect Yourself:

    • Always verify payments directly through your POS system or a trusted app like MyBiz.
    • Never release goods or services until you’ve confirmed the payment.

     

    2. POS Device Tampering

    Leaving your POS device unattended can open the door to device tampering. Fraudsters may install skimming devices to steal card details or reroute payments to their own accounts.

    How to Protect Yourself:

    • Inspect your POS device daily for signs of tampering, such as loose wires or unfamiliar attachments.
    • Never leave your POS unattended, especially during busy periods.
    • Lock your device when it’s not in use, and install cameras(if possible)  in your business for added security.

     

    3. The Triangle Scam

    This holiday scam is becoming more common. For instance, a fraudster uses a stolen card on your POS. The payment seems to go through, but when the real cardholder reports the fraud, the transaction is reversed. You may end up losing both the money and the product.

    How to Protect Yourself:

    • For large transactions, request a valid ID such as a National Identity Number or driver’s license and ensure the name matches the cardholder’s name.
    • Always cross-check identification before completing the sale.

     

    4. OTP and PIN Holiday Scams

    Scammers often pose as bank officials to trick your staff into sharing sensitive information like OTPs, PINs, or passwords. Once they have access, they can clear the money in your account within minutes. 

    How to Protect Yourself:

    • Educate your team to never share sensitive information, even with someone claiming to be from the bank.
    • Remind your staff that no bank or payment platform will ever ask for such information over the phone or in person.

     

    5. Refund Fraud

    Some scammers may claim they were overcharged and demand a refund. Without proper verification, you could refund money for a non-existent error.

    How to Protect Yourself:

    • Always review your transaction history before issuing refunds.
    • Insist on proof of the original transaction, like a receipt, before processing any claims.

     

    6. Use Secure Payment Platforms

    To minimize holiday scams, use a trusted payment systems like MyBiz, which offer real-time alerts and enhanced security features. Secure platforms also make it easier to track transactions and handle disputes.

    Bottom line

    The holiday season is prime time for scammers, but you can stay one step ahead by being proactive and vigilant. Remember, scammers rely on you being too busy to notice their tricks. 

    Don’t give them the chance! Protect your business, stay alert, and enjoy a prosperous holiday season!

    What’s your go-to tip for staying safe during the holidays? Share your advice in the comments—we’d love to hear from you!

     

  • Why NowNow Does Not Support Crypto Transactions

    Why NowNow Does Not Support Crypto Transactions

    NowNow platforms support transactions that help your business grow. Being a NowNow merchant means you get to accept payments instantly. Plus, your customers can easily pay you however they want using transfers, cards, QR stickers, or contactless methods. However, NowNow does not support crypto transactions.

    As a result, understanding the reasons behind this decision is crucial for ensuring the safety and compliance of your financial operations while using your NowNow account.

    In this guide, we’ll detail;

    • The measures we take to keep your money safe
    • The reasons we do not accept cryptocurrencies

    How We Keep Your Money Safe 

    As your payment provider, we do everything to keep your account safe and secure. Sometimes, while trying so hard to protect you and your hard-earned money, we might seem like an annoyance. From constantly sending you updates on how to protect your money from scammers to upgrading your KYC issues or other suspicious activities in your account. But it’s okay. We would rather provide the safest payment experiences than tell you stories that touch.

    Why We Say No to Cryptocurrency

    1. Your Own Financial Safety 

    Cryptocurrencies and other virtual currencies are growing more popular by the day. Despite their popularity, they pose several security risks like

    Volatility: The unpredictable fluctuations in value can result in huge financial losses, making them a risky option for day-to-day business transactions.

    Fraud and Scams: The anonymity of cryptocurrency transactions makes them attractive to fraudsters and scammers. This makes it difficult for us to track and recover funds in the event of fraudulent activity.

    2. Compliance with Regulations

    Aside your financial safety, like all financial institutions, we’re governed by laws and regulations. This is why NowNow does not support crypto transactions. In compliance with the regulation of the Central Bank of Nigeria, trading or engaging in transactions involving cryptocurrency or any other virtual currencies is not permitted on the NowNow platform.

    We take this matter seriously and want you to take it seriously. If your account activities raise concerns related to anti-money laundering or fraud, we might temporarily block it and take steps to investigate further. If your account is in violation, we will promptly report your account details to the appropriate authorities. It’s not personal. Rather it’s just our way of staying compliant and safeguarding your finances.

    Bottom Line

    The fact is—protecting your financial interests is our number one priority. We do it to keep your hard-earned money safe. Whether it’s preventing fraudulent transactions or ensuring compliance with regulatory requirements, every action we take is in your best interest. By not supporting cryptocurrency transactions, NowNow helps protect you from these risks, ensuring that your financial transactions remain secure and reliable.

    If you have any questions about security, please email customercare@nownow.ng or message us using the in-app chat.

  • How To Get a NowNow POS Terminal

    How To Get a NowNow POS Terminal

    Every business, big or small, needs a reliable way to accept payment from customers. That’s where a NowNow POS terminal comes into play. Read on to see why NowNow POS is the go-to choice for merchants and how to get one for your business. 

    What Is a POS Terminal?

    A Point of Sale also known as a POS terminal, is your business’s best friend when it comes to facilitating transactions. It makes it easy for you to accept card payments or transfers from your customers whether they’re making purchases at your physical store or on the go. 

    Why Your Business Needs a POS

    Regardless of the kind of business that you operate, having a POS terminal is a must-have. That is if you are serious about accepting instant payments and offering convenience to meet your customers’ expectations. It really doesn’t matter what kind of business you operate. A POS system is ideal for all kinds of businesses including restaurant or fast food, retail or supermarkets, filling stations, hair salons, hospitality or service businesses. A Point of sale machine will help you grow your business, making it easy for handling transactions efficiently, securely and meeting your customers’ expectations. 

    Benefits of NowNow POS To Your Business

    Equipping your business with NowNow POS offers so many benefits for merchants including

    • Receive secure payments from cards or transfers
    • User-friendly device and easy to maintain
    • Accept payments from all types of debit cards
    • Check sales and end-of-transaction reports
    • See transaction history
    • Instant payment alert notification
    • Reliable and efficient in transactions
    • Pay bills and purchase airtime
    • Long-lasting battery
    • Responsive customer support 

    Furthermore, with NowNow POS, merchants can accept contactless payments and take payments anywhere, issue receipts, saving costs by not printing paper receipts for their customers.

    How To Apply For A NowNow POS Terminal

    Getting started with NowNow POS is simple by following the steps below

    1. Sign Up: Download the  MyBiz by NowNow from the Play Store and follow the prompts to create an account.
    2.  Fill the form: Visit NowNow website to apply for a NowNow POS machine.
    3. Contact NowNow Customer Experience Team: Reach out to our team at 0700-066-9669 or email customercare@nownow.ng Our Business Development Manager (BDM) will contact you to schedule a visit, train you on how to use the terminal and answer any questions you may have about the NowNow POS. 

    Bottom Line

    In conclusion, having a reliable POS system is non-negotiable for businesses of all sizes. The NowNow POS machine terminal offers a fast, affordable and reliable solution to ensure smooth transactions and meet all your business needs. Don’t wait any longer – contact us today and take your business to the next level with NowNow POS.

  • How To Link BVN to Your MyBiz Account

    How To Link BVN to Your MyBiz Account

    Except you live under a rock, you have being receiving messages from your bank (including us), asking you to link your Bank Verification Number (BVN) to your account. 

    But why all the fuss you ask?

    Well, it’s because the Central Bank of Nigeria (CBN) mandates, all Nigerian bank accounts must link to a BVN number. 

    WHAT IS A BVN?

    A Bank Verification Number (BVN) is the 11-digit unique number assigned to each individual within the Nigerian banking sector. It’s like your own financial ID within the Nigerian banking sector.

    THE IMPORTANCE OF LINKING YOUR BVN

    So, why is linking your BVN to your NowNow account essential? Well, for starters, it’s all about safeguarding your hard-earned money. Your BVN is part of the KYC  (Know Your Customer) process a bank requires to know you and keep your account secure.

    When you link your BVN to your account, it reduces the risk of unauthorized access to your account.

    Besides protecting your account, it also unlocks higher financial transaction limits, giving you more flexibility and ease when transacting.    

    HOW TO LINK YOUR BVN TO YOUR MYBIZ ACCOUNT

    Now, let’s talk about how you can link your BVN to your NowNow account. It’s quite easy, and you can do it through two ways.

    Option 1: Email or SMS Link 

    Use the link sent via email or SMS to submit your BVN or NIN number. This link is only for Merchants. Simply click on the link, and it will redirect you to a landing page to fill in your details. 

    Option 2: Through MyBiz Mobile App

    • Login to your MyBiz app
    • Click “My Account” at the bottom left corner of the home dashboard screen
    • Select “Upgrade Limit”
    • Add your BVN and proceed
    • Take a clear selfie and submit it for verification
    • Enter the 6-digit OTP sent to your phone

    And that’s it! 

    Linking your BVN to your MyBiz account is super easy

    If you have any issues or need further assistance,  reach out to our Customer Experience team at 0700-066-9669 or via email at customercare@nownow.ng. Our team is always happy to help.

  • How to Upgrade KYC Level on MyBiz

    How to Upgrade KYC Level on MyBiz

    At MyBiz, we’re all about making sure your experience with us is smooth and super secure. That’s why we’re here to chat about why it is so important to upgrade KYC level on MyBiz – and how to do it! 

    Key Highlights

    • KYC or Know Your Customer, is a verification process required by MyBiz to ensure compliance with regulations and protect users from fraud.
    • Adding your BVN and NIN to your MyBiz profile enhances security by verifying your identity and preventing unauthorized access.
    • Upgrading to higher KYC levels unlocks higher financial limits, allowing you to transact with confidence and grow your business without restrictions.

    What Is KYC And Why Does MyBiz Need It?

    KYC stands for “Know Your Customer,” and it’s a verification process that we follow to get to know you better before or while we provide our awesome services. It’s all part of getting to know you and complying with the rules set out by the Central Bank of Nigeria. In a nutshell, KYC is crucial for keeping our platform and merchants’ accounts safe and secure. 

    Reasons To Upgrade Your KYC On MyBiz Account.

    1. Enhanced Security 

    One way to make sure your wallet stays rock-solid secure, is by adding your Bank Verification Number (BVN) and your National Identity Number(NIN) to your MyBiz profile. It allows us to verify that you are the rightful owner of the account. Additionally, it helps us spot any shady stuff around your wallet like mismanagement of your identity, account takeover, anti-money laundering, and fraud prevention, and of course, maintain the integrity of our platform. 

    2. Compliance Standards

    Our KYC process is aligned with top-level compliance standards to ensure that we’re meeting the Central Bank of Nigeria regulatory requirements and keeping our platform in line with industry best practices. 

    3. Increased Financial Limits

    Having your KYC documents after downloading the app ensures you can keep enjoying full access to your MyBiz wallet. In addition to enhanced security, upgrading your MyBiz wallet also unlocks higher financial limits. You can transact with confidence up to the tune of ₦5,000,000 naira daily and grow your business successfully in a competitive market without restrictions.

    Limits For MyBiz KYC Levels

     

    How To Upgrade MyBiz Account to Level 2

    There are two ways to upgrade your account
    • Login to MyBiz app
    • Clicks on “Upgrade your limit” on the “KYC Upgrade” pop-up notification on your dashboard screen.
    • Add your BVN and click “proceed”
    • Take a clear selfie and submit image for verification
    Once all information is verified, your account is upgraded to Level 2
    Option 2
    • Login to MyBiz app
    • Click “My Account” at the bottom left corner of the home dashboard screen, then click “Upgrade Limit”
    • Add your BVN, and click “proceed”
    • Take a clear selfie and submit image for verification.
    • Enter the 6-Digit OPT sent to your phone
    Once all information is verified, your account is upgraded to Level 2

    How to Upgrade MyBiz Account To Level 3 

    • Login to your MyBiz app
    • Click on “Upgrade Your Limit” and follow the prompts to provide your BVN details.
    • Or Click “My Account” at the bottom left corner of the home dashboard screen, then click “Upgrade Limit
    • Choose NIN as ID type
    • Add NIN number and upload front and back of the NIN card
    • Add Address and Proof of address(utility bill or waste bill showing residential address)
    • Submit uploads for verification
    Once all information is verified, your account is upgraded to Level 3
    There you have it.

    Bottom Line

    Upgrade your KYC level on your MyBiz account today to enhance security and increased financial limits. Like always, we’re here to support you every step of the way on your journey to business success.
     If you’ve got any questions or have any difficulty upgrading your account, please call: +234 0700-069-9699; email: customercare@nownow.ng or chat with us in the app.

    FAQs

    1. Is the upgrade processed in real-time, or do I need to wait for some time before it’s approved?
        Yes, the upgrade is immediate without any delay
    2. Can my wallet be downgraded?
    Yes, it can if you fall under this category:
    • Are a new user that has not provided your BVN
    • You are in Level 1 and are yet to add your BVN
    • An Existing wallet holder whose BVN does not match.
    3. Are my details shared as part of KYC safe with MyBiz?
    Yes, your details with MyBiz are absolutely safe. We keep them in line with CBN guidelines. 
    4. How can I check the KYC status of my MyBiz wallet?
    To check your KYC verification status on MyBiz,
    •  Log in to your wallet 
    • Click “My Account” at the bottom left corner of MyBiz home screen. 
    • Your KYC level is displayed on the top right corner.
  • How To Monitor Bank Network Status on MyBiz

    How To Monitor Bank Network Status on MyBiz

    At MyBiz, we’re dedicated to more than just providing payment solutions. We’re committed to continuously improving your payment experience based on your feedback. That’s why we’re thrilled to introduce this exciting new feature: monitor bank network status. It’s just one more way we’re demonstrating our unwavering dedication to your business’s success.

    What Is Bank Network Status?

    For instance, you’re at your store or business, ready to process a transaction for a customer. You swipe their card or attempt a bank transfer, only to be met with an error message or delay due to a bank’s network issue. Frustrating, right? Not anymore. You can now check bank network status directly from MyBiz mobile app or POS before going ahead with any bank or card transaction.

    What Are The Benefits of Monitoring Bank Network Status?

    1. Avoid Pending or Declined Transactions

    A lot can happen in the few seconds it takes to make a transaction. For instance, pending or declined transactions due to bank network failures can disrupt sales and even halt business operations. So, don’t leave your payments to chance. Monitor in real time, other bank network from your MyBiz dashboard to ensure a smooth and uninterrupted sales process.

    2. Enhances Customer Experience

    Customer experience is key to your business’s success. When payments go through without any delay caused by network issues, it creates a positive customer experience. Customers appreciate seamless transactions and are more likely to return for future purchases. 

    3. Save Time and Resources

    By monitoring bank network status before initiating any bank transfer or card transaction, you can save valuable time and resources. No more wasted efforts following up with banks for failed payments. With real-time network updates, you can decide if you want to go ahead with a payment or not.

     

    How To Monitor Bank Network Status on MyBiz

    It’s easy to view other bank network status on MyBiz. First, if you don’t have the app, quickly download MyBiz from Play store and create an account to get started on MyBiz

    • Log in to your MyBiz dashboard
    • Click the Menu icon on the top left corner 
    • Scroll down and click Network 
    • Select Bank Success Rate or Card Success Rate
    • View the network you want to monitor

    Why Choose MyBiz To View Any Bank Network Status?

    Using MyBiz bank network monitoring provides real-time updates, allowing you convert every transaction into instant payment. With access to view real time updates for any bank or card network, you can decide if it’s safe to send or receive money from that bank or card.

    Bottom Line

    In conclusion, businesses that prioritize customer satisfaction by checking bank network status demonstrate reliability and professionalism. Customers leave happy with a positive customer experience. Say goodbye to frustrating disruptions and embrace smoother, more efficient business operations with MyBiz bank network checker today.