Home Finance How to Get Moniepoint POS Machine, Charges, Price, Daily Target

How to Get Moniepoint POS Machine, Charges, Price, Daily Target

If you’re looking for a way to start your own business or supplement your existing income, becoming a Moniepoint POS agent is a great option.

So in this article, I will show you everything you need to know about Moniepoint POS including the charges, price daily target and more. 

What is Moniepoint POS Machine?

Moniepoint is a popular POS provider in Nigeria that offers a variety of services, including cash withdrawals, transfers, bill payments, and airtime recharge.

How Does Moniepoint POS Machine Work?

This smart device operates by connecting to a bank’s payment network. When a customer opts to make a payment using their debit card, credit card, or mobile wallet, the transaction flows through the bank’s secure network. 

Subsequently, the funds are transferred to the merchant’s account, ensuring a free and secure payment experience. 

How to Get Moniepoint POS Machine

Obtaining your own Moniepoint POS machine is a straightforward process, provided you meet the following prerequisites:

Requirements for Getting Moniepoint POS Machine

1. Nigerian Citizenship: You must be a Nigerian citizen.

2. Age Requirement: Applicants should be at least 18 years old.

3. Valid ID: You need a valid governmentissued ID card such as NIN, BVN or other means of identification. 

4. Bank Account: A valid bank account is essential to facilitate transactions.

5. Phone Number: Ensure you have a valid phone number for communication purposes.

Once these prerequisites are met, follow these simple steps to acquire your Moniepoint POS machine:

Steps on How to Get Moniepoint POS Machine

1. Begin by visiting the official Moniepoint website or a physical Moniepoint branch.

2. Fill out the Moniepoint POS machine application form with accurate information.

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3. Submit the necessary documents, including your governmentissued ID card, bank account statement, and phone number.

4.Pay the Moniepoint POS machine fee, which covers the cost of the device and the setup of your Moniepoint account.

5. After your application is approved, you’ll receive your Moniepoint POS machine, ready to transform your business.

Moniepoint POS Machine Charges and Price

When you understand the financial aspects of acquiring and using a Moniepoint POS machine, it helps you to make a good decision on time. Let’s me show you the charges and pricing details

Transaction TypeFee
Withdrawal (below N20,000)0.5%
Withdrawal (above N20,000)N100
TransferN20
Airtime and Data Purchase2%
Bill PaymentNo fee

The initial cost to obtain a Moniepoint POS machine is N21,500. This fee encompasses the purchase of the POS machine itself, as well as the setup of your Moniepoint account, ensuring you’re up and running without any hassle.

Beyond the initial fee, it’s crucial to be aware of the transaction charges that may apply, depending on the type of transaction:

Please note that additional charges, such as a monthly maintenance fee, may be applicable.

What is Moniepoint POS Machine Daily Target?

The Moniepoint POS machine daily target refers to the minimum amount of transactions you need to process in a day to meet your business goals. It serves as a benchmark for your daily performance as a Moniepoint agent.

Why is Moniepoint POS Machine Daily Target Important?

Meeting your daily target is crucial for the sustainability and profitability of your business. Achieving this goal ensures a steady stream of income and helps you maximize your earnings as a Moniepoint agent.

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How to Meet Moniepoint POS Machine Daily Target

  • To meet your Moniepoint POS machine daily target, consider the following strategies:
  • Choose the right location for your POS machine. Hightraffic areas and densely populated neighborhoods can significantly boost transaction volume.
  • Promote your Moniepoint POS machine business through local advertising, social media, and wordofmouth. Creating awareness can attract more customers.
  • Offer competitive rates to attract customers. Compare your fees to those of competitors and adjust them accordingly.

Conclusion

Thanks for reading to this end. I am assured that at this end, you can become a Moniepoint POS Agent because you are well disposed to the price, daily target and basic details. If you have any question, do use the comment section to reach out to us. 

FAQs

How much is Moniepoint target a day?

The Moniepoint daily target is 50,000 worth of transactions. If you fail to meet the daily target at least three times, Moniepoint may take your POS terminal.

However, it is important to note that the daily target is just a guideline. Moniepoint understands that there may be days when you are unable to meet the target due to unforeseen circumstances. If you are struggling to meet the target, you can reach out to Moniepoint customer support for assistance.

How much does POS make in a day?

In general, POS agents in Nigeria can make anywhere from N5,000 to N10,000 per day. However, some POS agents in busy areas may make even more.

Which bank owns Moniepoint POS?

Moniepoint POS is owned by Moniepoint Inc., a fintech company founded by Tosin Eniolorunda and Felix Ike in 2015.

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