Types of POS machine in Nigeria

Types Of POS Machine In Nigeria (POS Companies)

In this article we shall be discussing the types of POS machine in Nigeria. With the economic crisis in Nigeria, many citizens have been looking for ways to expand their income volume. A large amount of Nigerians ventured into profitable business with low startup amount and high income.

One of these thriving businesses is the POS (Point of Sale) machine business. Many POS vendors have come to the stage in few years, but it is no news that the amount you make depends on your type of POS machine. In Nigeria, many POS operators have made good use of this knowledge.

What is the best POS machine in Nigeria? The best POS machines are the ones that offer their operators more commission, and unlike others, they are the best POS machines to use.

Before selecting the best and most popular POS machines in Nigeria, I will mention all the types of POS machines in Nigeria, their pros and cons, advantages and disadvantages, and the most popular POS machine in Nigeria.

What Is A POS Machine?

Before we talk about the types of POS machine in Nigeria, let’s have a quick glance on what POS machine is all about.

The full meaning of POS is Point of Sales. A POS machine was designed mostly for business owners who will have customers that do not want to use cash but their credit cards for payment. The device therefore comes in handy if you surely want to increase customer base.

However, many Nigerians have learnt to use this device to establish a crucial business. Many young people use POS business to make hundreds of thousands of naira even in a month. Many banks offer POS machines at free amounts or very low rates.

As the business is, you can even make more money as a business owner. This is because you get commissions for transactions made with the machine.

Types Of POS Machines In Nigeria

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In this section, I have organised a list of some types of POS machine In Nigeria. I have gathered a list of the POS machines and providers in Nigeria and the best ones with highest commission rates and great performance.

So the list of POS machines in Nigeria are:

  1. Opay POS
  2. Moniepoint
  3. Firstmonie
  4. Kudi
  5. Palmpay
  6. Baxi
  7. Flutterwave
  8. Paycentre
  9. Surebanka
  10. Surepadi
  11. Zenith POS
  12. Access Closa
  13. UBA POS
  14. Union Bank POS
  15. GT Bank POS
  16. Stanbic Bank POS
  17. WEMA Bank POS
  18. Itex POS
  19. Heritage Bank POS
  20. Bankly POS

Opay

From reviews gathered, Opay was voted by many as the best POS provider in Nigeria. Opay is a branch of a Chinese company that made its way into Nigeria a few years ago with Oride and Opera news, and has being a trusted company till date.

The company has being providing a means to make money for many Nigerians, and it didn`t take long before it joined the POS business in Nigeria as well.

How Do You Get Opay POS Machine?

Having listed some of the types of POS machine in Nigeria, let’s now talk about how to get OPay POS machine.

Opay POS has been known to be one of the best types of POS machine in Nigeria, that is why many are always looking for it whenever they want to start POS business.

Some people always think that they have to go through all kinds of long procedures but it is not like that. All you need to do to get into the POS business using Opay POS machine, is to download the app and create an account.

For people who have the Opay app, all that is needed is to open an Opay agent account.
After that, the next process is to upgrade your KYC level to agent level. Now, you have become an Opay agent. The process that takes longer is getting the POS machine.

Opay POS machine is always provided for free, however, you have to have reached a certain level to be able to apply for one. If your account is a new one, use it for transactions often, and the feature will be available for you to use in no time.

All you will need to do is to fill the Opay POS application form and submit. The Opay POS machine is free and is one of the best POS machines in Nigeria.

What Are The Requirements Needed For Opay POS Application Form?

Filling the Opay POS application form requires quite a lot of details, as the Company needs to make sure of your details.
These are the details you will require:

  • BVN Number
  • Utility Bill
  • Passport
  • Any identification means
  • Full name
  • Shop address
  • After filling the Opay POS application form, you would easily get your free Opay POS machine.

What Is The Best POS In Nigeria?

The best types of POS machine in Nigeria may be more than two. Though every company has a bit of advantage over the other, and the two best are Opay POS and Moniepoint POS. Another contender is Firstmonie, as these three POS vending companies have proved to be the best of many POS companies in Nigeria.

How Do You Make Money With POS Machine?

Now that you have known some types of POS machine in Nigeria, let’s talk about how to make money with them.

How do you make money with a POS machine? How does it work? Making money with POS machines works by commissions and charges. All you have to do is to set up a kind of station. Frankly, statistical surveys show that many of the POS operators started their business with less than N80,000. Most of the POS operators in Nigeria have a big umbrella and a chair and table as their shop for operating a POS machine.

How Can You Get A POS Machine From Banks In Nigeria?

Getting a POS from Nigerian banks of course takes a bit of process, as is with all bank activities. However, a POS machine seems easier to acquire compared to other POS providers in Nigeria.

To get a POS from any Nigerian bank, make sure to already have an account with the bank as it will make things easier for you. Go to any of the bank branches and ask to see any of the officers. Ask the officer the process and details required and do as said. Then, you will be able to get a bank POS easily.

What Is A POS Terminal?

A POS terminal is a kind of station that serves the function of an ATM machine. Most little towns with no ATMs yet use POS terminals.

Conclusion

It is now pretty obvious that your earnings and business rate depend on the POS vending company you use and the type of POS machine you use for your customers.

A read through this article will help you understand how a POS business works, how you can earn more in your POS business, a list of types of POS in Nigeria, and the best POS in Nigeria according to reviews.

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