Long queues in banks and ATM stands have decreased since the innovation of the POS machine. The machine acts like a mini bank and helps to meet the need of Nigerians in small stores.
One of the numerous benefits of the POS machine is mobility. The machine can easily be taken from one place to another and aid fast transactions.
The charge on every withdrawal means nothing to a lot of people when they consider other alternatives to having access to their accounts.
To avoid the long queues at banks, or having to take a bike to an ATM stand, a POS machine is now an option. At least in a busy city, you can come across at least a POS machine almost every 10 minutes within walking distance.
For these reasons and more, POS machines have gained attention among Nigerians, and their usage has increased in recent years.
If you have considered starting a POS business and you want to make the right decision by starting with the best POS machine, you have opened the right page. All POS machines are good, but a few are exceptional, and you would want to consider them over others.
Have you taken a glass of water in the last two hours? Take it as continue reading this article.
5 Best POS Machines in Nigeria
Opay has gotten a name in the market for its exceptional services. It’s one of the most common and the most used by vendors.
Most people often choose Opay because of the cheap price, and the 12 months warranty that comes with the machine. In other words, there is a free repair of the machine in the first year after collection if there is damage.
How To Get OPay POS Machine
You need a little information to get started, that involves.
- Full name
- Company’s address
- Current PHCN Bill
- BVN number
#2 Kudi POS Machine
We can’t mention the list of the best without including the leading international fintech firm. Kudi is based in Nigeria but has extensions in other African countries.
How To Get Kudi POS Machine
Paying a caution of #20,000 covers all that needs to be done. The Terminal is given for free after the caution fee is paid. However, a transaction target is given on the terminal. To get the terminal,
- Visit a Kudi office
- Fill in and submit the form that would be given by their agent
- Make the caution fee nonrefundable payment.
#3. Moniepoint POS Machine
It was started by a fintech firm in Nigeria. Also doing everything possible to take their sales to other parts of the continent.
How To Get Moniepoint POS Machine
Getting the POS terminal is easy, you just have to be a Nigerian, be above 18, and own a smartphone for operation.
Moniepoint gives out free machines, but the process can be tedious. However, a sum of #25,000 naira at their office will help to fast-track the collection of the machine.
#4 PayCentre POS Machine
PayCentre is also one of the most popular POS machines used in Nigeria. The registration can be done online without visiting any physical office for activation. In a few days, you would be registered and you can get your POS machine and start working.
Much more than just aiding easy transactions, PayCentre can also help in account opening, application for loans, card activation, recharge top-up, and so on.
The charges are very minimal, just within 0.75% and 1%.
#5. Firstmonie POS Machine
The First Bank Nigeria plc created this in other to get to customers that cannot be easily reached. The innovation from the bank is to ease customers’ troubles of reaching the bank but created an alternative to reaching the customers.
How To Get Firstmonie POS Machine
- You must have a current account that is functional for at least one year.
- There must be a minimum of #50,000 as the working capital for individuals. For a business account, the owner must have at least #250,000 as working capital.
- After the aforementioned has been done, you can then proceed to submission of your business location.
The POS machine can also perform functions such as opening a new First Bank account and enrollment for BVN.