What is the best POS machine in Nigeria? The market is filled with a wide array of POS machines and choosing the best among the lost is quite difficult. In this post, we will show you the best POS machine in Nigeria.
POS business has gained a lot of popularity over the last three years in Nigeria. When you trace the origin of this business, it grew in popularity during the COVID-19 pandemic. During this period, people couldn’t go to banks. To get cash, they had to visit the POS terminals closest to them to make withdrawals.
Today, we have POS terminals on almost every street in Nigeria. This is because the POS business is one of the most lucrative small-scale businesses in Nigeria. If you are planning to invest in this business, you should find out the best POS machine in Nigeria.
Best POS Machine in Nigeria
Choosing the best POS machine in Nigeria can be quite tricky. This is because there are different machines made available by different companies in the market. We understand the stress you might be going through in making your choice. This is why we have put together a list showing some of the best POS machines in Nigeria. Check them out below:
Opay POS Machine
If you are familiar with fintech companies in Nigeria, then you must have heard about or accessed the services from Opay. This is arguably one of the biggest fintech companies in this part of the world. Among their very many products and services, is the Opay POS machine.
You can use the Opay POS machine to carry out a wide variety of financial transactions. One of the biggest advantages of using the Opay POS machine is that it presents so many services at very affordable prices. Another advantage of the machine is that it is very dependable and of very high quality. The machine is also accompanied by a one-year warranty. If it gets bad within this period, you can contact the company’s customer service, and they will carry out the repairs free of charge. Also, if you partner with the company, you can access a lifetime of technical support from Opay for free.
How do you get access to the Opay POS machine in Nigeria? Here are the requirements that you must satisfy:
- Clear and well-captured passport photographs.
- First name and surname.
- BVN
- Valid ID card.
- Business address (company or shop address).
MoniePoint POS Machine
MoniePoint is a very popular fintech company in Nigeria. This company offers users an array of financial services including money transfers, bill payments, airtime and data purchase, and so on. The brand is rapidly expanding its reach beyond Nigeria to the rest of Africa.
One of the products from MoniePoint is the POS machine. Similar to the other machines in this post, you need to satisfy certain requirements to access the MoniePoint POS machine for your business. Here are the requirements you should satisfy:
- Be a citizen of Nigeria.
- Be 18 years old or above.
- You must be tech-savvy and responsive.
- You must own a smartphone.
How much does it cost to own a MoniePoint POS machine in Nigeria? Getting access to this POS machine comes at no cost. You can access the machine once you can meet the requirements. What you need to know is that the process of getting this machine is quite strenuous and elongated. However, the machine is worth the wait as it is very reliable and presents you with a huge advantage.
There is something you should know about getting the MoniePoint POS machine. If you need to get it quickly, you can do so by paying a token of N25,000. Doing this saves you the stress of passing through the prolonged process of acquiring the machine.
Paga POS Machine
Paga POS machines are quite popular in the market. To run a POS business with this machine, you need to sign up with Paga first. This requires you to send an email to the company via this email address, agents@mypaga.com. Alternatively, you can visit www.paga.com to sign up.
When you visit the website, click on Agent and select “Become an Agent” to begin. If you have any challenges, you can put a call through to 01 2777160 or 07000007242.
Here’s how to get a Paga POS machine in Nigeria:
- Utility bill (PHCN bill)
- Valid account number
- BVN
- A verified ID card. This may be a national ID card, voter’s card, or international passport.
- Business license (this is only applicable to registered users).
- Email address.
Firstmonie POS Machine
Firstmonie POS is provided by one of the oldest commercial banks in Nigeria, First Bank Nigeria Plc. This POS machine was designed to meet the cash needs of customers residing in underbanked or unbanked locations. Through the machine, these individuals were expected to access an array of financial services. Some of the transactions that you can carry out using the Firstmonie POS machine include:
- Deposit money
- Open a First Bank account
- Transfer money to First Bank accounts and other bank accounts.
- Make withdrawals
- Buy airtime
- Make bill payments
- Enroll for BVN
How much does First Bank charge on its Firstmonie POS machine? The bank charges 0.75% for each transaction. Here are some of the requirements that you need to satisfy before accessing the Firstmonie POS machine:
- A minimum of N50,000 as working capital if you plan to run the business as a sole proprietor. However, if you will be running the business as a registered business owner, then you need at least N250,000.
- You must have an operational current account with First Bank. The account must have run for a minimum of a year before you submit your application.
- Provide a defined business location.
Conclusion
There you have it for the best POS machine in Nigeria. This post has shown you some of the top POS machines in Nigeria and the requirements to access these machines. Do you have any questions? You can drop them in the comments section and we will provide answers.
