Is Recharge card business still profitable in 2024?
The recharge card business was one of the most profitable businesses in early 2000 mainly because there was nothing like mobile banking and online recharge and also commission on every recharge pin sold is much. It was one of the best businesses to venture into as it also requires large capital to partner with a telecom company before you can be able to print to buy it directly from them at the wholesale price.
But in recent years the profit made in the recharge card business has declined reason been that most people now use their mobile banking apps to recharge and also the commission has reduced to 0.5% -1.5% example is when you buy a recharge card for 95 Naira you resell it for 100 Naira given you a total profit of 5 Naira. So before you can make a profit you need to supply a large number of people.
How to start recharge card Business
To start the business you will need to download the epin manager software which is available for Android users and PC by Netdivo for free but you won’t be able to generate any pins until after you have made a one-time payment of 9500 for the pin.
If you don’t have 9500 you can start by using the Baxi Mobile app to sell it as VTU while you get your instant commission. the difference between the two is that you can print Netdivo recharge cards on paper and distribute them to people who sell recharge cards in retail while the Baxi can only be sold through VTU
How much profit Can you make selling recharge cards?
You can’t make much profit selling it as a standalone business, you have to add other businesses like a pos business with it as a lot of people tend to recharge on their mobile phone.