Due to the stress of getting free POS machine from some financial institutions like Banks and POS companies in Nigeria like Opay, Kudi, etc; many people now wish they would just buy the POS machine from POS dealers. In this, some people may be looking for the cheapest POS machine in Nigeria they can buy, to minimize cost and time.
Today, there are many POS dealers that sell different kinds of POS machines at varying prices, depending on the quality and features of the POS machine. Many people looking for used POS machine for sale in Nigeria always prefer going to these dealers because there no kind of POS they don’t sell: both brand new, and second hand POS machines.
Though POS machines are always given free by some Banks and POS companies, these companies will always charge you some fees for any transaction you do on the POS machine.
But if you buy POS machine from POS dealers, there is always no charge fees on transactions; because you have paid the one-time fee as the POS machine purchasing fee.
For example, if you buy a POS machine for N60,000 from a POS dealer, you will never be charged any fee again for the transactions on the POS machine.
But if you get a free POS machine from POS companies like Moniepoint; Moniepoint would always charge you at least 0.5% for any transaction you make through the POS machine.
POS Machine Dealers In Nigeria
Before we talk about the Cheapest POS machine in Nigeria, let’s first of all talk of POS dealers in Nigeria.
Apart from financial institutions like Banks, and POS companies like Opay; that issue free POS machine in Nigeria; there are some POS dealers and platforms where you can just buy any type of POS you need without going through any process.
Some of these dealers are:
Jumia is one of the most popular online shopping company in Nigeria, which sells any kind of products available in the market. In the recent time, Jumia has been listing different kinds of POS machines for sale in their market place. In fact there may not be any kind of POS machine that you can not find on jumia, and the prices always depend on the quality and features of the POS machine.
So looking for a place to get the best and Cheapest POS machine in Nigeria, Jumia may be a nice option for you.
How Much Is POS Machine On Jumia?
Like I said, there are many kinds of POS machine available for sale on jumia; both Android POS machine, handheld POS machine, online/offline POS machine, card swipe POS machine, and so on.
So depending on the product, quality and features; POS machine price on jumia ranges from less than or equal to N60,0000 to over N200,000. Despite this, Jumia still remains one of the best online place to get the best and Cheapest POS machine in Nigeria.
Jiji is another online shopping platform where you can get cheap POS machine in Nigeria; and both used and brand new POS machines are always available there. So if you have been wondering if there is used POS machine for sale in Nigeria, or brand new POS machine sale in Nigeria; then Jiji is always there for you.
How Much Is POS Machine On Jiji?
Jiji is one of the known platforms that sells the cheapest POS machine in Nigeria. Even when you talk about the best POS machine in Nigeria, there is no type you won’t get on Jiji.
Based on my recent search, POS machine price on his Jiji ranges from less than or equal to N30,000 to over N150,000. Remember that the prices of these POS machine depends on the quality and features available on the POS machine.
Other POS Machine Dealers In Nigeria Are:
- Elite ShieldPro (located at 2 Cmd Road, Ikosi Ketu, Magodo, Kosofe, Lagos, Nigeria)
- BFM Consulting (located at 36B, second floor, Toyin street, ikeja, Lagos)
- AOG Consulting (Located at Adebowale House, Block C, First Floor, 150, Ikorodu Road, Onipanu, Lagos, Nigeria).
- Boromax Global Limited ( located at 12, Simbiat Abiola way, Computer Village, Ikeja, Lagos Nigeria
- Citiserve limited (located at 368, ikorodu Road, Maryland, Ikeja, Lagos Nigeria)
- Neo High Tech Solutions LTD (located at 62B, Opebi Road, Ikeja, Lagos Nigeria)
- Wamcom Associates ( located bat 5, Medical Road, Computer Village Ikeja, Lagos Nigeria)
- E-Print Solutions ( located at E31/01, Arena Shopping Complex, Bolade, Oshodi-Isolo, Lagos Nigeria)
POS Machine Price In Nigeria
This is probably the part you have been waiting for. You must have been asking yourself the following questions; is there a used POS machine in Nigeria? How much is POS machine sold in Nigeria.
How much is POS machine on Jumia. Please note that the price of products or services are usually not constant and tend to fluctuate and the POS machine price is not an exception. However, for a shop, some POS machines cost fifty thousand naira (N50,000) to purchase it. Despite the cheap price, it is not always advisable to just purchase the POS machine just like that as you will usually need to register first.
Failure to register as an POS agent might result in getting a legal suit filled against you and your business. The price of a used POS machine in Nigeria is subject to negotiation and it not worth being talked about here. However, the general rule is “make sure it is not more expensive than the new one”. It is best to consult any POS company to get your POS machine in Nigeria.
You can as well seek help from someone who has more in-depth knowledge of the POS machine, how it works, charges, and even price before getting the used POS machine or a brand new one.
The price of an android POS machine in Nigeria is over a hundred thousand naira (N100,000), however you can get to borrow for a lesser price or even get a used POS Baxi POS machine for fifty thousand naira (N50,000). The MPOS POS machine is sold for less than thirty thousand naira (N30,000).
10 Cheapest POS Machine In Nigeria
Now that you have known the clue of POS machine price in Nigeria, let’s now talk about the Cheapest POS machine in Nigeria.
Based on the research I conducted on the prices of POS machine by some POS dealers like jiji, Jumia, and son; below were the cheapest among all:
- Dot pay POS terminal machine (N30,000)
- V71 POS terminal (N35,000)
- Pax POS machine (N40,000)
- Nexgo G2 POS machine (N43,000)
- Bank NEW8210 POS machine (N43,000)
- POS S90 machine (45,000)
- Baxi Android POS machine (N50,000)
- Newland N910 Android POS machine (N87,500)
- A920 POS machine (N90,000)
- TPS300 USSD handheld dual brand POS machine (N65,000).
POS Companies In Nigeria
Now that we have talked about the cheapest POS machine in Nigeria, let’s now talk about POS Companies in Nigeria.
In case the prices of the POS machine listed above are too costly to you, and you really want to get free POS machine from a POS company; then I will be showing you in this section, some of the best POS companies you can go for.
Since the advent of the POS machine in Nigeria, various companies have emerged in the POS business. Companies like Opay, Kudi, Moniepoint, Baxi and even some commercial banks like first bank also known as Firstmonie had joined the trending business.
Although we will address much of these later, it is important for us to stress that you can get your cheap POS machine via some of these best companies. Some of these companies offer the POS machine free of charge or you pay a little token just to get the machine. However, we will address this in the next few sessions as to the price of the POS machines in Nigeria.
Best POS Machine In Nigeria
Just as stated earlier, there are many types of POS machine in Nigeria but the top ones with the best networks are:
- Opay POS machineKudi POS machine
- Moniepoint POS machine
- Baxi POS machine
- Firstmonie POS machine.
A lot of people would agree with me that some or all of these Fintech (financial technology) have done enough to get on the list. However, in the next unit, i will be addressing them one after the other.
Opay POS Machine
Opera pay, abbreviated as Opay is a product of the chinese company that owns the browser Opera mine as well as the news app Opera news ( however, there is a web version too).
They are into the FINTECH (Financial technology) industry too and they also boost of having one of the best networks for the industry in the country. For you or anyone to get their POS machine, you must register as an Opay agent. Below is a simple guide on how to help you get your Opay POS machine in Nigeria.
This registration begins when you download the Opay app from the playstore using your android or IOS devices.
you sign up. You will be asked for your name, date of birth, gender, Email and most importantly since the phone number you used when signing up will be used as your Opay wallet address.
After signing up, you’ll get a confirmation code sent to the phone number you used when filling the registration form.
You can now sign in using the your Opay phone number now known as your Opay wallet address. You enter your password too and then click log in.
Immediately after signing up on the OPAY app, you will be put in KYC (know your customer ) 1. You can only make or recieve cash of not more than ten thousand naira (N10,000) .
This isn’t where you want to be as your transaction volume will be in hundreds of thousand naira. To get to KYC (know your customer ) 2. You will be asked to provide your BVN number and some other means of verification here.
You can see this option by going to the homepage, clicking at the bottom right corner of the homepage, click the KYC 1 setting, scroll down to locate upgrade to KYC 2. You will need to upgrade to KYC 3 before you can even think of upgrading to KYC 4 which happens to be the Opay POS agent level. This process are quite simple anyway.
You can easily apply after being on KYC 4. The Opay account can do a whole lot like TV subscription, airtime purchase, NEPA bills, betting account deposit,transfers, withdrawals as well as deposit. It is key to stress that to join or be eligible for the Opay KYC 4, which happens to be the Opay agent POS level, you must have used the Opay app for a long time.
This registration are all done via the app. Opay even helps you by advertising you when their customers needs the help of an agent. This is done by tracking the POS agent and finding it proximity to the client.
Kudi POS Machine
Founded in the year 2017, Kudi has grown to become durable, portable and accessible mobile money agent. It is most time viewed as a rival to the Opay POS as they tend to have the same registration process amid a whole lot of other similarities.
To become a Kudi POS agent, you will need to download the Kudi app from the playstore using your android or IOS devices. You will need to upgrade from KYC (Know Your Customer) 1 to higher KYC levels.
It is also similar to Opay in the sense that you will need to use the app before applying as a Kudi POS agent. After applying, you might be given your free POS machine.
Baxi POS Machine
The Baxi POS machine is a trademark of the Caoricorn digital limited DGL. They are of two types, the android POS machine and the MPOS POS machine.
The android POS machine is used with android version 8.1 and above. The MPOS POS machine is more portable and durable than the android POS machine. It is usually connected with an external Bluetooth printer in order to print the receipt. Despite it seemingly advanced technology, it works the same way as other POS machine in Nigeria.
You can become a Baxi POS agent by getting their mobile app from the playstore using your android or IOS devices or by visiting any of their social media handles.
Moniepoint POS Machine
Regarded as the best in the industry based on popular consensus. Moniepoint is highly rated due to it speed. However, to get your POS machine, you will need to register online via their official website www.moniepoint.com or by visiting their office in Lekki.
You will then get linked to a Moniepoint aggregator who will take it up from where you stopped. You will be required to provide your password, name, BVN, address among a whole lot of other stuffs.
Firstmonie POS Machine
Owned by First bank Nigeria Plc, firstmonie has grown to be one of the best POS machines given by commercial banks. However, there are some criteria that must be met before you can get your Firstmonie POS machine.
You must own an existing business, most have an working capital of not less than fifty thousand naira (N50,000), register and complete agent registration form, have a visible business location and most importantly bank with First bank Nigeria.
You can easily get your firstmonie POS machine when you register as a First bank POS agent.
Cheapest POS Charges In Nigeria 2021
Just as I have stated earlier, if you get free POS machine from any financial institution or POS companies in Nigeria, they would always charge you some fee for any transaction on the POS machine.
The POS Charges are not the same for all the POS companies in Nigeria; each POS Company in Nigeria has a particular amount they charge as transaction fees on their POS machine.
As you may know, the profitability of POS business may be greatly affected by POS charges. Because if your POS provider is charging you high, then your actually find it difficult to save much money after you have done much transactions for your customers.
So, for you to make more profit if you are using the free POS machine, there is need you go for POS companies that don’t charge much.
Some of the POS companies that has the Cheapest POS Charge are:
- Bankly POS Machine (charges 0.3% on every withdrawals and a flat rate of N35 on all transfers).
- Moniepoint POS Machine (charges 0.5% of transaction amount. For transactions above 20,000 naira and a flat rate charge of N20 for transfers).
- Kolomoni POS Machine (charges 0.5% on withdrawals from N1000 to N19, 900. N30 fee for transfer of N2000 and above).
- Opay POS Machine (charges 0.6% for withdrawals below N20,000 and a flat rate charge of N120 for withdrawals from N20,000 above)
- Kudi POS Machine (Charges N25 for transaction from 100 – 4,500; Charges 0.6% for every transaction between 4,501 and 25,000. And a flat rate of N150 for transactions above N500,000 ; and charge N150 flat fee from above 500,000 naira).
- GTBank POS Machine (Charges 0.75 as POS routine maintenance).
Feel free to drop your question if you have any