In the fast-paced world of business in Nigeria, it's crucial to have a reliable and efficient Point of Sale (POS) system to manage transactions.
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| MoniePoint Point of Sale Terminal. Image Source: https://moniepoint.com/ng |
Moniepoint POS offers a range of capabilities on-the-go, such as transfers, withdrawals, airtime purchases, and more, with the potential to increase profits. Additionally, Moniepoint boasts of having one of the most robust networks in the country, promising seamless transactions and freedom from network disruptions, a problem commonly faced by users of other POS systems.
It's important to consider Moniepoint POS as a solution for digital Transactions to maximize your business potential in Nigeria.
What Can You Do with Moniepoint POS ?
- Cash withdrawal.
- Fund transfer.
- Instant settlement.
- Check customers’ account balances.
- Payment of utility bills.
How to Register as Moniepoint POS Agent
To become a Moniepoint POS agent, you need to follow the processes below:
- Visit their official website at https://moniepoint.com/
- Fill out the registration form for Moniepoint agents and submit
- Confirm your email address and phone number and an agent would reach out to you after 48 hours of registration
- The agent would guide you on what you need to do, after which they would confirm you as an agent
- Lastly, log in to the Moniepoint POS dashboard to manage your account
What Are The Documents You Need ?
During the registration process to become an agent, the following must be provided:
- A certified business license
- Your bank verification number (BVN)
- House PHCN bill
- Your bank account number
- Identity card, which could either be a National ID, Voters card, or any other nationally accepted card
How to Log into Moniepoint POS?
Basically, after registration, follow the process below to login into your Moniepoint POS dashboard:
- Download the Moniepoint application from the google play store
- Login to your account on the Moniepoint application
- To log in through your phone browser on their official website
Going forward, you can smoothly carry out transactions as an agent.
6 Things to Know About Moniepoint POS
1. Moniepoint POS is not for sale i.e ( it remains the property of the company).
2. POS Terminals Purchased On “RENT” Are Expected To Be In Use Daily, Else It’ll Be Retrieved From The Agent
3. Moniepoint’s Daily target is N50,000 withdrawals per day, from Monday to Saturday or weekly performance must not go below N150,000 or else the PoS will be retrieved from you.
4. Agent must agree to return the POS when not in use anymore (in case the agent quit PoS business or has any other financial problem).
5. Refund of POS, when returned, is 10,000 naira
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| MoniePoint Business Account. Image Source: https://moniepoint.com/ng |
How Much is Needed to Get Moniepoint POS device ?
With a sum of N21,500 (twenty one thousand, five hundred Naira only), you can get a Moniepoint POS device within 24-48 hours.
Fund your newly created Business Account with a minimum of ₦21,500 for the POS Terminal and complete the request. The ₦21,500 covers a ₦10,000 caution fee, ₦10,000 logistics fee, and ₦1,500 insurance fee for 1 year.
What are the Moniepoint POS charges and commission structure?
The volume of transactions via the terminal determines the charges by Moniepoint POS. But as a starter guide, here are some of the commissions and charges by Moniepoint POS.
- With withdrawals between N1-N20,000, Moniepoint POS charges only 0.5% of the transaction amount.
- For transactions above N20,000, Moniepoint charges a flat rate of N100 (charges may change at any time.
- For transfers, Moneypoint POS charges a flat rate of N20 for transfers.
Applicable rules to Moniepoint POS usage
Minimum of N50,000 (Fifty Thousand Naira only) daily withdrawal value.
You will get 10,000 naira of the N21,500 paid during registration if an aggregator has any cause to withdraw your Moniepoint POS device within a year of issuance.
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