When I was first starting my business many years ago, one of the biggest challenges was handling cash payments from customers. As someone who was just getting started, the thought of transporting large amounts of cash was honestly quite scary and risky. That’s when I first learned about Moniepoint and how their services could help securely process payments while growing my business.
Moniepoint was established in Nigeria in 2008 with the goal of providing digital payment solutions to help drive financial inclusion across the country. In the early days, they offered basic card payment machines and services to enable merchants to accept debit and credit card payments. However, over the past decade they have expanded their offerings tremendously by partnering with banks and developing new technologies.
Moniepoint POS Devices
Initially, Moniepoint’s main product was their dedicated point-of-sale (POS) devices that allowed businesses to scan and process card payments directly. These early POS machines were only capable of basic debit and credit transactions. However, in recent years Moniepoint developed advanced all-in-one POS systems that can accept not only cards but also mobile wallets, bank transfers, and cash payments directly through an integrated ATM module.
Transition to Digital Payments
A major turning point for Moniepoint came in 2013 when they shifted focus beyond physical POS terminals to develop digital payment solutions. They launched platforms like the Moniepoint agent network which enabled bank agents, shops, and even individuals to process transactions remotely via their phones.
This helped accelerate financial inclusion by bringing digital money services to more remote communities across the country that previously lacked traditional banking infrastructure.
Getting Started with Moniepoint Services
Nowadays, Moniepoint has established itself as one of the leading FinTech companies in Nigeria, processing billions of naira in transactions each year. Let’s explore some of their core services and how new customers can get set up.
Moniepoint POS Login
For merchants that require an advanced POS system for their business, the first step is requesting a Moniepoint POS device directly from their website. During the application process, businesses will need to provide basic KYC documents like company registration details.
Once approved, the POS device will be delivered and the merchant can then use the Moniepoint configuration app to set up the terminal. This involves creating login credentials, selecting payment options, and configuring settings. Merchants can then use the integrated app or web dashboard to manage sales, issue receipts, and view analytics.
Moniepoint Agent Login
For individuals interested in becoming Moniepoint agents to offer cash-in/cash-out and other money transfer services locally, the process is fairly straightforward. Agents simply need to visit and click “Become an Agent” to submit an application.
Common requirements include having a valid Nigerian bank account and national ID. After approval, agents can start by downloading the Moniepoint agent app. Here they can perform KYC verification, set up a login, and begin transacting immediately through the intuitive interfaces. No specialized hardware is required to get started as a Moniepoint mobile agent.
A unique strength of Moniepoint is the extensive partnerships they have with major Nigerian banks like Access Bank, UBA, FCMB, and Zenith Bank. Merchants and agents can seamlessly offer banking services to customers through these integrations.
During onboarding, Moniepoint users select the banks they want to support. Funds can then be deposited and withdrawn conveniently from linked bank accounts directly through the POS or agent app interfaces. This unified experience has proven hugely popular for consumers accustomed to visiting physical bank branches.
Advanced Moniepoint Payment Options
Beyond basic card and cash transactions, Moniepoint’s full-featured platforms provide many other innovative ways to accept and send payments digitally.
Bank Transfers and Quickteller
In addition to direct bank integrations, Moniepoint makes it simple to collect funds through Nigeria’s popular instant payment service, Quickteller. By inputting a customer’s phone number or account details, transactions can be completed immediately through a linked Quickteller merchant wallet.
This is perfect for scenarios like sending invoices, paying bills, or receiving payroll deposits digitally in real-time. Businesses have full visibility of all transfer activity syncing directly into their Moniepoint account transaction history.
Billing and Recurring Payments
Advanced features in the Moniepoint platform allow generating custom billing plans and invoices which customers can pay conveniently using linked payment methods. Merchants in sectors like utilities, healthcare, and education find this extremely useful for setting up predictable recurring payments.
Detailed billing profiles can be created directly from the web dashboard. Customers then scan a generated barcode or enter invoice details to schedule automatic future installments seamlessly through the POS during check-out. Moniepoint takes care of collection and reconciliation.
Moniepoint Beyond Payments
While payments remain central to Moniepoint’s mission, they have expanded into new revenue streams and value-added services beyond just transaction processing over the years.
Email Support
As a last resort, complex problems can be reported to Moniepoint’s dedicated support email address. They guarantee a response typically within one business day to address email queries thoroughly with the relevant teams.
Frequently Asked Questions About Moniepoint
How do I reset my Moniepoint password?
To reset your Moniepoint password, follow these steps
- Go to the Moniepoint online platform.
- Click on the “Forgot Username or Password” button.
- Enter your username and click on “Next”.
- Enter the OTP sent to your registered phone number.
- Click on “Submit” to complete the password reset process.
How do I reset my POS?
To reset your POS password, follow these steps
- Go to the POS login screen and tap the “Forgot Password” or “Reset Password” button.
- Enter your employee ID, birthdate, and phone number registered with the POS system.
- The POS will generate a generic password for your next sign-in.
- After signing in with the generic password, you will be prompted to change it to a new password.
- Enter and confirm your new password to complete the reset process.
If you are unable to reset the password yourself, contact your POS system administrator or support team for further assistance
