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Pos machine price in nigeria

Posted in Hustle Updates

While some are still wondering if pos business is considerable even in this era, others are busy searching for pos machine price in nigeria. In other words, there many people out there who are willing to start this business but have no idea of pos machine cost.

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In this article, you will get all the necessary information in regards to starting pos business in Nigeria and this includes pos machine price in nigeria.

What is POS machine

The POS machine is similar to ATM machine, the major difference there is that POS don’t dispense the cash directly as there’s no configuration for that.

The POS also know as point of sale makes it easy for people to make transactions without entering the bank.

This machine was introduced by the central bank of Nigeria in 2012 to encourage the cashless policy around the country. So far, the machine has successfully dorminated the country and doing its function professed by the central Bank.

How does POS machine works?

You cannot use this machine in dispensing cash unless you have an ATM card.

Once you Plugin your Card and following the necessary steps, your account will be debited automatically while you get cash from the point of sale attendants.

Every POS machine have a wallet where the money debit from your card goes into. This wallet is accessible by the POS attendants/owners.

In a short note, they remove the money from your account using your ATM card and give you cash while you pay certain charges (pos or Transaction charges).

The charges varies from one attendant and from one region to another.

OTP is not needed. Just your card and Pin. That’s all.

Pos business idea in Nigeria

Before you can make money from POS that means you have to become an agent only in doing so, Will you be able to get the machine easily.

And someone is still asking How does pos agents make money?.

A pos agent can make 2000 to 30000 daily depending on the traffic and customer inflow. Pos agents makes money from transaction charges.

If a customer comes to withdraw #5000 for instance, they can be charged 200 naira based on the business location. One more question running in your mind right now. Let’s answer that.

Is pos business profitable in Nigeria?

According to statistics in 2021,pos terminals hits 4.1Trilion Naira in Nigeria. With this statistic, it’s pretty sure that the business is quite profitable.

Looking at the situation of the country today, banks targets their businesses in open areas. Banks don’t open in local areas.

In places where banks are not available, the POS becomes the only option. I think addition, people these days prefer going to pos than bank on day to day transactions to save time and stress. That’s why you still see pos even in area where there are many banks.

But before you consider getting started with this business, here are few things to consider.

  • Not secured: We hear stories of how pos agents get attacked by robbers almost every time.

    Pos agents are prone to robbers attack because they deal on large sum of money and most at times their business points are open areas without a single security.

  • Fraud Acts: Among the many customers, there are some whose intentions is to defraud you as an agent. That’s why you need people who are already in the business to give you some tips before getting started.

    Don’t be ignorant to the fact that scam is everywhere currently and they are ready to crumble especially small careless businesses.

  • Bank Networks: One other thing that’s likely to frustrate you as an agent in this business is Nigeria bank networks. You don’t need to be told much about this as am sure you already know what we battle here when it comes to the banking system.

    The network will affect your business in the sense that most customers can get debited without you as an agent getting credited. The customer might not understand and all they want is their money.

    At this point, you might run loss because if you pay them there’s every possibility that the money won’t drop on your wallet.

    It’s advisable to possess more than one machine. When one network is bad, you fix in the other. This will help not just in getting issues with your customers but also in securing them because when your network is bad they are likely to go for the next available agent “You have Successfully lose that customer”.

  • Electricity: it’s also a challenge because your machines need to be powered in order to work. It’s advisable you a power source maybe a small generator or powerbank to always keep your POS machines on.

Pos machine price in nigeria

Currently, pos machine price in nigeria ranges from 20,000 to 50,000 naira depending on the provider.

There are many pos machine providers in Nigeria of which am going to list few below but i will recommend Bankly because of their smart service.

And someone is asking “How to get bankly POS machine?” it’s fast, easy and affordable irrespective of your location in Nigeria. All you need is contact the agent below.

08136334971 or 08161748587

If you are searching for agents addres offices you can easily visit for face to face business the below list will be of help.

  • 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)

Conclusion: Pos machine price in nigeria

There’s no fixed Pos machine price in nigeria as different agents goes with different prices.

As a beginner in this business, managing your resources is always a priority so what you need is efficient and effective service.

All of the above agents will give you good services at different rates but we recommend bankly because it’s more affordable and very effective suitable for newbies and Pros.

If you find this post helpful, kindly use the share button because many others are also searching for pos machine price in nigeria.

John Ohadean
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