Posted in: Business Guide

Top 10 Cheapest POS Machine In Nigeria (Prices, Charges & Where To Buy)

Initially when POS business was still new in Nigeria, most POS companies used to give out their Terminals to their agents, free of charge. But today where the business is now so popular, it has become almost impossible to get a POS Terminal for free; the faster option now is to buy the machine from your preferred company.  However, you can still get a POS terminal for free, from your BANK, but may require a lot of protocols.

Yes, most POS companies now sell their terminals, and it has become easier to get a terminal as long as you have your money to buy it. However, the companies always regard the POS purchasing fee as a caution fee, which can be refunded to the agent, anytime they return the machine.

Since the option now is to buy the POS machine and save our time, we would want to get the quality ones, and at a cheaper and affordable rate. And this article will compare the cheapest POS machine in Nigeria, so you can make your choice. 

Are Cheap POS Machines Reliable?

Yes, most cheap POS machines can also give you want in your business, in terms of fast network, low charges, good customer support, and so on… However, the price of a POS machine may depend on the brand, version, and so on. Example: an Android POS machine is definitely costlier than a traditional POS machine.

POS Machine Price In Nigeria

While buying from the company directly, POS terminals that can print receipts, cost from N20,000 and above, depending on the brand and version. While the  mini-POS terminals that don’t print receipts can cost from N10,000 and above. As of October 2022, that I bought a Nomba POS, formerly known as Kudi, it was selling at N25,000. That was a traditional POS terminal, and not an Android version. But on other third party platforms, the cost of POS machines may be higher. For example: the cost of POS terminals on JUMIA may be from N50,000 and even up to N200,000. However, everything still depends on the brand and version of the terminal.

So Generally, Android POS machines are always costlier than traditional POS machines; and the mini POS machines are always the cheapest versions.

What Are The Differences Between Mini, Traditional & Android POS Machines?

mini pos, traditional pos, android pos

To understand better the POS prices as we are going to discuss later in this article, you may need to know the differences between a mini POS, a traditional POS, and an Android POS.

  1. A Mini POS Machine: A mini POS also known as mpos is usually a small size, hand-held POS terminal, which may not be able to print a transaction receipt. A mini POS machine is usually like a small calculator and can perform every other function that the traditional and android POS can perform, only that it is usually in a very small size, and cannot print receipts. Most mini are usually connected with mobile phones through Bluetooth, and may not function fully without a mobile phone.
  2. Traditional POS: Traditional POS is usually the lager and bulkier type of POS machine, which runs on a closed networks and data is stored on local servers, and can print transaction receipts.
  3. Android POS: Android POS is also a larger size of the POS machine which usually comes in the same sizes as the traditional POS, but the android pos may be flatter. The android POS runs in an android operating system, and usually a torch-screen terminal. It a very smart terminal and can also print transaction receipts.

10 Cheapest POS Machine In Nigeria

Based on the research we conducted and from our experience in POS business, we were able to gather the prices of POS machines in Nigeria, compare them and come up with the cheapest among them.

Our selection on the cheapest POS machines is based on not only the price of the POS, but also the charges, customer support and other factors.

So in our selection of the cheapest POS machine, we considered the ones with lower cost price, lower transaction charges, better network connection, and better customer support.

Let’s look through the list below:  

  1. Opay Mini POS Machine (N8,500).
  2. Dataway mini POS Machine (N10,000).
  3. Flutterwave POS machine (N10,000).
  4. Paycenter POS (N14,000).
  5. Bankly POS machine (N15,000).
  6. Monipoint POS Machine (N20,000).
  7. Payforce POS Machine (N25,000).
  8. Nomba/Kudi POS Machine (N25,000).
  9. Baxi Android POS (N30,000).
  10. PalmPay POS (N30,000).

In the table below, I’m going to summarize the cheapest POS machines in Nigeria, including their prices, charges, and so on.

S/NBRANDVERSIONPRICESCHARGES
1.OpayMini
Traditional
Android
N8,500
N40,000
N55,000

0.5% for transactions below N20,000.
And N120 flat charge for withdrawals
above N20,000
2.Datawayonly Mini availableN10,0000.6% for every withdrawals
within N10,000.
N100 flat charge for withdrawals
above N10,000.
3.FlutterwaveMiniN10,0000.6% on withdrawals. And N20 on deposits
4.PaycenterMini
Traditional
N14,000
N25,000
N10.5 – N26.25 charge for transactions of
N50,000 and below. And N50 flat fee for
transactions above N50,000
5.BanklyTraditionalN15,0000.3% on withdrawals. and N35 flat fee on
all transfers.
6.MoniepointTraditional
Android
N20,000
N35,000
0.5% on withdrawals of N20,000 or below. And N100 flat fee on withdrawals above N20,000.
7.PayforceTraditionalN25,0000.5% on withdrawals of N20,000 or below. And N100 flat fee on withdrawals above N20,000.
8.Nomba/KudiTraditionalN25,0000.6% on withdrawals of N20,000 or below. And N120 flat fee on withdrawals above N20,000.
9.BaxiMini
Android
N10,000
N30,000
0.55% on withdrawals of N20,000 or below. And N100 flat fee on withdrawals above N20,000.
N30 flat rate for cash deposits.
10.PalmpayTraditional
Android
N40,000
N60,000
0.5% on withdrawals of N20,000 or below. And N100 flat fee on withdrawals above N20,000
POS prices & charges

From our table above, it is palpable that Blankly, Opay and others, have the cheapest POS charges in Nigeria.

Where Can I Buy Cheap POS Machine In Nigeria?

The surest way to buy any of the cheap POS machines as listed above, is to buy from the company directly or buy from their aggregators. To do this, you can always visit the office of the POS company that is closer to you, or simply contact them to waybill the POS to you. Alternatively, to get their contact, you can simply visit their official website and reach out to them.

However, you can also buy from any reliable POS dealer in Nigeria; there a lot of them out there selling different brands of POS terminals. You can check for some POS dealers below:

POS Machine Dealers In Nigeria

Apart from financial institutions like Banks, and POS companies like Opay, 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:

1. Jumia

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.

How Much Is POS Machine On Jumia?

Like I said, there are many kinds of POS machines available for sale on jumia; both Android POS machine, hand-held 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, depending on the brand and quality.

2. Jiji

Jiji is another online shopping platform where you can get both new and used pos machines at a very cheap rate. So if you are looking for used pos machine for sale, Jiji would be a nice place to check out.

How Much Is POS Machine On Jiji?

Based on our recent search, POS machine price on Jiji ranges from less than or equal to N30,000 to over N150,000. Remember that the prices of these POS machine depend 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).

Conclusion

There are important factors to consider while buying a POS machine for your Business; these are fast and stable network, minimal transaction charges, good customer support. Most times, the cost of a POS machine may not be a guarantee that those factors will be complete, it all depends on the company you choose, it doesn’t really matter whether the price of the POS machine is cheap or costly.

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