Many companies issue POS in Nigeria, and there is no doubt that Moniepoint is one of them. However, getting POS from those companies may be difficult, especially if you don’t know the steps to follow.
In this post, we are going to show you how to get moniepoint POS in Nigeria, how to operate moniepoint POS machine, Moniepoint registration, and everything you need to know about moniepoint POS machines.
If you have been trying to start a POS business or willing to add more POS to your shop, this post will help you a lot. Well, let’s dive in.
What is Moniepoint all about
Moniepoint is owned by one of the leading fintech companies in Nigeria called TeamApt. It is a financial app that allows people to make payments, receive money, and take loans to help small businesses grow their businesses.
Moniepoint offers almost everything other banking apps like opay, kuda, etc., offer, and their POS is one of the easiest POS machines to get in Nigeria.
Moniepoint POS Requirements. How to get moniepoint POS in Nigeria
To get moniepoint POS machine in Nigeria, you will need to meet some certain requirements, which are listed below;
- You must be 18 years old or above
- You must be a Nigerian
- You must have a smartphone
- You must have a valid government-issued ID card.
- Utility Bill, e.g, NEPA bill
- A standard account number in any commercial bank.
How to Get Moniepoint POS in Nigeria
If you have been trying to know how to get moniepoint POS machine, you can get everything below;
- Visit www.moniepoint.com
- Click on “Get started” or “waitlist.”
- Fill in your details correctly
- Scroll down and select “POS terminal.”
- Select other products you are interested in.
- Verify your email and login
- Complete the remaining steps
How to Operate Moniepoint POS machine
Almost all POS machines in Nigeria use the same procedures. Moniepoint POS machine is not significantly different from others. If you are familiar with mobile banking apps, operating POS will be very simple for you.
To use the Moniepoint POS machine, follow the steps below.
- On the Machine screen, select the Moniepoint app.
- Sign in using your credentials.
- Enter the amount and press the enter key.
- Insert your ATM card and choose an account type (i.e. current, savings, etc.)
- Enter your PIN and press “enter.”
- Wait for it to complete.
- If the transaction is successful, it will be marked as approved before printing two receipts (For the customer and the agent).
- If the transaction fails, it will be marked as declined.
Moniepoint POS daily target
Moniepoin’s daily target is N70,000 worth of transactions. That is, you should be able to transact no less than N70,000. If you are unable to meet the target for three days or more, moniepoint may decide to get back their POS.
FAQs – Frequently asked questions
How much is Moniepoint POS machine in Nigeria?
Moniepoint gives POS machines for free, but it always takes time to be delivered. You can walk down to any of their offices to purchase one at N25,000 if you can’t wait for the free one.
How much do Moniepoint charge per transaction?
Moniepoint charge 0.5% for each successful transaction. However, they charge N100 for any transaction above N20,000.
Does Moniepoint give commission?
Yes. Moniepoint gives commission on airtime top-ups and other bill payments. Basically, they give 3% commission for MTN, 4% commission for Glo, and 4.5% for 9Mobile.
Who is the CEO of Moniepoint?
The CEO and the founder of moniepoint is Tosin Eniolorunda. He is also the founder and CEO of TeamApt, a digital solutions, and infrastructure company that provides software tools and payment platforms to help banks, businesses, and individuals pay, collect, grow, and manage money.
Conclusion on how to get moniepoint POS
There are many benefits of getting moneypoint POS machine, especially if you are starting out a POS business. The interesting part is that you will be given a free POS machine after meeting the requirements.
Instead of paying for POS machines from other companies, you can invest the money in the business to grow faster. However, Moniepoint POS machines sometimes don’t work with ATM cards like Kuda cards, opay, and other similar cards.
Finally, be sure that you will be able meet moniepoint daily target before applying for the free POS machine, so they won’t get back their MACHINE.