If you’ve been looking to know the current prices of POS machines in Nigeria, you’re just on the right page. Read on to learn more.
There was a time in the history of trading and commerce that one had to carry a lump sum amount of yams in exchange for a goat. Times changed and the mode of payment was cowries. Further down the lane, paper currencies and coins became the means of transaction. Now in the 21st century all you need do is swipe a card, punch some digits and your transaction is successful.
A POS (Point Of Sale) terminal, more commonly called “POS machine” in Nigeria, is a portable device that allows businesses accept bank card payments for transactions. Most POS terminals are issued by banks. The POS system was introduced by the Central Bank of Nigeria in 2012 as part of its plan to enforce the cashless policy in financial transactions across the country.
Point-of-sale terminals have become necessary machines at any store or business that accepts electronic cards. This article discusses some important points regarding the advantages of opting for a POS machines, selection process from the different products available and their price range.
Why choose a POS machine?
Unlike the traditional cash register system that requires an employee to enter the pricing amount in checking out customers, the Point of Sale system is a more advanced design of cash machine with higher functionality. The POS system uses your database to process transaction. As you enter the item codes, it automatically brings up the price and adds up purchased item, tax as well as adjusting inventory levels. Handheld mobile terminals are the latest innovation that let your employees complete transactions on the fly from anywhere in the store.
You should consider the additional benefits of improved, handheld smart-terminals to increase the level of service that your staff can provide.
Get rid of stress
POS machines reduce the stress of lifting cash from the sales point to the bank. It also eliminates the risk of loss or theft associated with carrying cash from one point to another in the country. With POS machines, the inconvenience of cashing cheques and the delay of clearing cheque transactions is totally eliminated.
Easy to use
POS machines are simple to use. A credit card is easily read by the machine and the sale immediately sent to be approved. In short, the use of one of these machine saves on business costs and makes the whole set up more efficient. These types of units make it very easy to monitor sales and process those sales very quickly.
Instant payment confirmation
As a business owner, you can make instant confirmation for the payment of goods and services in your bank account. Once a transaction is successful, the POS machine will vend a teller for the customer who will also be notified of the payment made instantly. They also assure the customer he is paying the right amount and receiving the correct change should he prefer to pay by cash.
POS machines in Nigeria: Popular brands
Some of the popular brands that manufacture POS terminals are VeriFone, Hypercom, and Ingenico. These brands offer simple credit card processing to more sophisticated models. It is absolutely free of charge to get a POS terminal.
Majority of the banks in Nigeria offer POS support and service to their existing account holders. You will only be expected to make some POS charges to the bank for every successful transaction you accept with the use of the machine.
POS Machine Prices in Nigeria
As stated earlier, getting a POS machine in Nigeria is absolutely free of charge, provided you get yours from one of the reputable commercial banks in the country.
In case you’re wondering what the bank stands to gain from giving you the machine for free, get this clearly: the issuing bank makes money on the long term by charging a fixed commission (between 0.25% and 1.5%, depending on the bank) per transaction done through each POS terminal issued.
To get a POS machine from any bank, all you need is to have an account (preferably current or corporate account) with the bank. Some banks are even fine with you having just a savings account with them.
Note, however, that there are now some other organizations issuing POS machines at a one-time fee. These dealers/suppliers don’t charge you for transactions because you would have paid for the machine upfront.
POS machine dealers in Nigeria
Here are some POS dealers in Nigeria that also issue POS terminals. So, if you think going through the bank isn’t for you, then get your machine through any of these companies:
- BFM Consulting (36B, 2nd Floor, Toyin Street, Toyin Street, Ikeja, Lagos, Nigeria)
- Neo Hitech Solutions Ltd (62B, Opebi Road, Opebi, Ikeja, Lagos, Nigeria)
- Elite ShieldPro (2, cmd road, ikosi ketu, Magodo, Kosofe, Lagos, Nigeria)
- Platinum Grade (5, Mojisola Street, Ifako-Agege, Ifako Ijaiye, Lagos, Nigeria)
- ICT and I (Suite 4, 21, Opebi Road, Opebi, Ikeja, Lagos, Nigeria)
- Wamcom Associates (5, Medical Road, Adjacent Computer Village, Ikeja, Lagos, Nigeria)
- Boromax Global Limited (12, Simbiat Abiola Way, Computer Village, Ikeja, Lagos, Nigeria)
- E-Print Solutions (E13/01, Arena Shopping Complex, Bolade, Oshodi Isolo, Lagos, Nigeria)
- Citiserve Limited ( 368, Ikorodu Road, Maryland, Ikeja, Lagos, Nigeria)
Getting a POS machine in Nigeria
On having decided to install a POS machine, the next decision to make is what type. Of course cost will be a factor as well as the needs of your business. The following should be considered:
Payment Types: Before you start to look for a POS machine, establish the payment types you want it to handle. Debit card payment types usually incur a transaction fee. Electronic Check Conversions processes paper checks electronically. POS terminal software can be customized to accept loyalty cards. ATM cards work as both debit and credit cards. To be able to process debit cards, your machine has to provide a keypad for processing customers’ personal identification number (PIN).
Purchasing or leasing: You may choose to buy a new POS machine. Used machines are also widely available, if you’re on a tight budget. The other options are to rent a POS machine or lease one.
The Nature of your customers: What type of customers patronise your business? Are they the class of people that have gotten the orientation of the use of Debit cards? Or are they common people without understanding of any form of technology?
Cost of Usage: You will need to familiarise yourself with the cost of using a POS machine in Nigeria. If you get a POS machine, you’ll be expected to make some certain payments off the value of every successful transaction or payment accepted via the use of the machine. The transaction fees vary from one bank to the other.
Power supply: Electricity powers up the POS machine as it has a rechargeable battery in it.
Availability of network: POS machines make use of network to function so you may need to consider the availability of network in your environment. Network issues can be frustrating and bad for business.
Downsides of Installing a POS Machine
Cost
The only thing that could discourage a business owner from installing a POS machine is the cost. This has to be weighed against future cost savings and benefits of having a unit installed against staying with a more traditional cash register. However, businesses do have lots of different alternatives.
Innovation
There may also be a concern that the rapid rate of innovation could make a POS machine obsolete in a relatively short time, making its acquisition a waste of money. That argument can be countered by the fact that customer protection is becoming paramount, so the security of the POS machine system ensures it will remain in place for quite a while yet.
Please I need one
I need one
Pls I need one for business purpose
Yes and me too
My mom needs one
I can get you one
I need one please. Am a mobile money agent
How much is it? I need a POS terminal.
Pls I need POS for my business
I need 1 p.o.s machine very urgent
If I want to go into mobile banking business, how do I go about it?
Thnks, same question sir, Can someone please shed more light on this!?
Wish to ask same question please.
I paid bank N73500 for my POS terminal but they still debit me on any transaction… Why?
Banks don’t sell POS terminals. They issue it for free, but they debit you on each transaction you make on the POS . Alternatively, you can purchase your POS terminal from private companies, and I don’t think it is as costly as you paid.
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I need it
I need pos pls
I’m interested in mobile banking.
Please I need one pos for my business, how do I get one, my bank to have it, I am ask to get it else were and bring for linkage
Please I need 1 to start a POS business
I have one for sale.
Hw much and location
Pls i need one
How much sir
What is its condition? From which bank?
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How much and your location please?
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Which bank pls
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Please how much
Please how much is it?
Pls how will get it I am banking with diamond
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Please I want the phone number of any of the companies you mentioned above in order for to have discussion with them. I need their services.
Will i use POS to make money? If yes how?
I need the phone no of the above mention company so as to call them and get the prices .
I need one .
I am interested in your advertised TPS300B POS terminal. How much is it?
please how much is the pos machine as I need one also
I need one from ikorodu
Pls how do I get a pos machine for commercial purpose and if i went to buy it how much will it cost me to get it.
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Pls what’s d cost 4 d pos used 4 Bedc bill payment & d commission per transaction
I need a pos for my finance business,how much will it cost me to get it without charges
Hello Medinat,
Please explain what you want the POS for. Do you want a POS that communicate with Bank application or with your application (Like voucher or Airtime system)?
I Need one p.o.s machine in my shop..
I stay at toll gate at ogun state
GOOD INFORMATION!!!
FOR NOW, INSTANT SETTLEMENT POS MACHINE IS THE BEST TO LOOK FOR IF ANY AVAILABLE AT LOW COST AM INTERESTED.
THANKS
l need pos machine for commercial purpose how much will it cost from Niger state
I need pos for business how much is it,and how will activate it
Pls how can i get one & how much is it from ajah
HI.PLS ,i need a POS machine how do i get it?
How can I get one. I’m currently lives in Ilorin…… I need number of company that deal with it you mentioned above.
Please how can i get on and skill on how to start the paga business… My location is ikorodu
Please i need the pos machine , how much is it and were can i get one for business purpose.
pls how much is it?
how can i get a POS machine,the amount and how can get it from my bank?????
How much is the pos I need it for my business
Please I need a pos for Mobile banking business, how do I get it and how much does it go for?
Please I need one for agent business. I live in Portharcourt and is very urgent
I need one, how long does it take to get it?
How do I get a pos for my business, my banks are demanding to high usage for the pos per month 3/4million naira usages. Which I no that it is not possible cause not all customer will use pos for to make payment……
Please how can I get one urgent, and if I’m to link to my banks account fidelity bank or stanbic bank, how much do you think I’ll be charges per transaction, and will my bank supply me printing papers or I will be the one buying….
Please urgent
Thanks
I need one pos machine, please how much is it and where can I get it…
What is the cost of pos and i need one for business trasartion wildraw
Please I want to purchase one for myself, how do I go about it and what is the cost
Pls I need a pos to start off my biz, how do I get it and for how much, thank you.
Can u pls inbox me on how to get a pos machine here in Joseph Ayo Babalola University (Jabu), ikeji Arakeji osun state. And how much is the start up cost?
Pls i need one for my Restaurant Business, Banks demand are to high and when you meet up they will still give you excuse . Thanks
How can I get phone number
I need p.o.s matching for my business can I get it from your company?
Pls I need one pos for mobile banking
Pls i need pos machine for my business, and how much is it, from Osun state
I need pos machine for my organisation, how much does it cost and how do I get it. I am in Surulere, Lagos
Please I need a position machine to print recharge card. I reside in yenagoa. What is the price
Please I really need this POS machine for my business,please it is also urgently
Pls I need pos ASAP for mobile banking. Pls what and what is required?
Dear Reader,
Kindly find herein my phone number and chat me on WhatsApp or call me on phone so we can talk. My Bank is Sterling Bank Plc. I am in owerri Imo State.
Pls i need offline pos machine that can work with any card both local and international…..i base in lagos
Have you gotten the offline POS you demanded for?? I do need one too.
i need one pos for my paga business how cam i get one?
I need one POS machine for easy transaction reside in Lagos.
Please help forward the mail address of those dealer perhaps their phone nos for easy contact.
I need a good pos for my business,and how much,
Please I need one urgently from osun state
Am interest how much?
How much is the POS machine and how fast can it be?
Good morning,
Im jeffrey and i run a boutique business at auchi edo state..please i need kudi POS service …how can i get a POS from your agents?
I need a pos for my business
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Am mypaga agent already using POS but I still need one to boost my business,please it’s urgent
Pls how do I get POS from paga
I need pos from Benin, I want it for debit and credit.
I need one where can get it now then amount is cost
I need a pos for payment of bedc bill and TV subscription
I need the P O S machine for money transaction and the order for sale card
Pls I need a pos machine for sale of Benin Electricity Distribution Company.what is the process?
It’s urgent
Please I need this first clover flex POS that can function as a cardless POS system. I saw it online and if there is any POS that function without inserting the card. Thanks
I need a pos for mobile banking business, how much can I get one?, can you also get me the telephone no of the companies you listed as dealing in the provision of pos.
Please I need one
I need a pos to grow my business
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PLS I NEED ONE POS HOW CAN GET IT?
I need a pos I can link to my account and which can drop instantly, I have an account with first bank,diamond bank ,stabic ibtc, Union bank thanks
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I need a p. O. S for my mobile banking business
How can I get pos that link to BEDC?
I need POS for my business, what next please. Thanks
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Pls am from jos, how can i get the pos and how much will it cost.
Please how much
I need in abuja for debit and credit card
I need a pos
I want to do a mobile banking, how can I get a POS
Hello!
My name is Bobby.
Please does PAGA issue POS machines?
Pls I need one for business purpose
Pls I need one for business purpose I mean, mobile transaction
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I need POS that you can use for debit and credit
pls I seriously need one, my agent banking business is not flourishing because of the lack of a POS machine, and my bank, first bank is not helping me either. I reside in Abuja
I supply and install Point of Sale system for retail business.
Pls I need pos machine I’m residing in Idiroko ogun state. cost?
pls I need 1 that I will be able to link to my bank account
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I need POS for business.
I really need one
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I need pos for my business.
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Am okunlola oluwafikemi I need one am leaving in Ibadan how do I get it
How much will it cost
I need one for my business
Am in Igbokoda,ondo state Nigeria
No 17omonira street
Please I need a pos or my business
Thanks
I need one post how will I get it
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Am interested how can I get one please email me at tplzacks@gmail.com
Please I need one
Thanks for talking about POS amchine prices.
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I need one
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I need one pls
I need one pos device how do I get it??
GOOD DAY PLZ DO YOU DELIVER TO PORTHARCOURT
Pls I need one
Tell me the process of getting one machine
Hi, I am in urgent need of a P.O.S machine for my paga biz
I was charged the sum of fifty give thousand naira for express agent pos,is that right?
I need one pos machine am living at Bida, Niger State.
Am Akintola Noah A, I need one pos
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I need one, the price please.
You have so many questions here unanswered. I think you should do a proper research and get back to as many people as you can.
Thanks for the info.
I need one pls, for business purpose
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I need one for my business
I really need about two or three of the POS please
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Please how can l get the number of any of the above mentioned company for the post??
Can anybody help me with the number of the person in charge of Boromax global LTD. I really need POS machine
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Plz I need one for my business
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Pls, I need a pos machine for business purpose. What is the cost