The POS (Point of Sale) business has become increasingly popular, especially in cities with limited access to banking services. There are several reasons why Nigerians go for the POS business.
Moniepoint Pos in Nigeria has provided a solution to the challenges many people face in accessing financial services and has contributed to the growth of the country’s economy.
How much is moniepoint pos machine in Nigeria
The Moniepoint POS machine cost N21,500. This covers ₦10,000 for caution fee, ₦10,000 for logistics, and ₦1,500 insurance fee for a year.
How to get moniepoint pos
To get the moniepoint pos, follow these steps:
- login to the moniepoint website
- Click on Create a New account
- Enter your email and phone number
- Click on the Add a new POS button
- Fund your new account with a minimum of ₦21,500 for the POS machine to complete the request.
After you apply for a POS from Moniepoint, they will send a staff called “Relationship Manager”. This person will bring the POS terminal to you within two days and teach you how to use it. They will also answer any questions you may have about the POS terminal.
How much does moniepoint charge for deposit
For withdrawals below ₦20,000, Moniepoint will charge 0.5% on the transaction amount. If the withdrawal fee is above ₦20,000, Moniepoint will charge ₦100.
Moniepoint offers a commission for every successful transaction made through its POS terminal.
Commission for network providers:
- MTN = 3%
- Glo = 4%
- Airtel = 4%
- 9Mobile = 4.5%
Commission for Tv subscription
- DSTv = 2%
- GOTv = 2%
- StarTimes = 2%
Commission for utility bill
- PHCN = 2%
Moniepoint daily target
The moniepoint daily target is ₦50,000 per day. However, if you cannot meet this target, you must ensure that you process at least ₦150,000 worth of transactions per week to avoid having your POS machine retrieved.
What is moniepoint transaction limit?
Business owners who have completed their account verification process (called KYC) can send up to a total of ₦25 million daily using Moniepoint.
However, for business owners who are still in the process of verifying their accounts, they can only send up to ₦900,000 per transaction, and the total amount they can send per day is up to ₦5 million
What cards can work on the Moniepoint POS terminal?
Your POS terminal is compatible with all cards. For example, the master card, and the verve card.
Why choose Moniepoint
There are several reasons why Nigerians go for the POS business:
- Secure payments
- Instant conflict solution
- Compatible with all cards
- Accepts all card and transfer payments
Where is the moniepoint office located in Lagos?
Address 1: Blossom J Mall, Km 37 lekki Epe Exp. Ibeju lekki, Lagos
Address 2: 86 Allen Avenue, Ikeja, Lagos
Moniepoint office in Abuja
No 22, Ajase Street, Wuse 2, Abuja Municipal Area Council.
Head Office: Oyo-Ibadan Road, Idi-Agba, Ilora, Oyo