Cheapest POS Machines in Nigeria 2022

Types of POS machines in Nigeria

POS machines have been acquired a lot since the last two years by a lot of people since the POS business boomed.

The best businesses in Nigeria are mostly online businesses with no/low start up fees. The POS business is one of the offline profitable businesses to start with low start up amount.

Most POS vendors in Nigeria have a very little shop that costs low rent. Some POS vendors do not even own a shop. They simply set up a large umbrella with a bench or use other people’s shops.

If you do it well, POS businesses are one of the best business ventures in 2022.

This article talks about how you can start a POS and the best POS machines in Nigeria.

The best POS machines in Nigeria are the ones that give you more money when you use them.

It is well known among POS operators that the type of POS you use determines how much you will make.

What is the best POS machine in Nigeria?

The best POS machines are the ones with better duration, and offer the POS operator more commission.

Before I mention the best POS machine to use, I will mention a list of POS machines in Nigeria, and the best POS machines to use.

I will also mention the advantages and disadvantages that made me select the best POS machine in Nigeria.

Table of Content

POS machines- How does it work?

Types of POS machines in Nigeria

POS companies in Nigeria

List of all POS machines in Nigeria

Best POS machines in Nigeria

How to get a POS machine from Opay?

Requirements to get POS from banks in Nigeria

What is a POS machine?

How do POS machines work?

Many people confuse the meaning of POS while some people do not know it at all. Most people simply call a POS machine POS.

A POS machine is a device that is used for making online business transactions. The full meaning is Point of Sales.

Why is it Point of Sales?

It is because a POS machine is meant to be used for payment in shops and supermarkets or whenever you need to pay for anything.

In order words, the true function of the POS machine was to help business owners. It is used for customers who wish to make payments with their credit cards and have no cash.

However, POS machines have been used to start a most profitable business, the POS business.

There are some people who make more than hundred thousand naira monthly using POS machines. To alleviate poverty and reduce unemployment, some organizations and even banks give free POS machines to youths who want to start a POS business.

Many banks offer POS machines at free amounts or very low rates.

Even if you own a business and you have a POS machine, you can earn additional income by operating the POS machine and using it for business.

How do you make money with a POS machine?

POS machines- How does it work?

You get money in your POS business whenever you make transactions on your POS machine.

I know a guy who built a big shop just to run a POS business. He charges lower rates to customers so his shop is always full and he makes over 10,000 naira daily from his POS business.

Whenever people withdraw money, you add to the amount as charges and you collect them.

Doing this plenty times in a day will bring you a lot of money. In a month, you could also make over a hundred thousand naira.

What do I need to start POS business?

In order to start a POS business, what you only need is your starting capital. If you cannot afford a shop, you consider other options.

There are three things to choose from:

Rent/buy a shop

However, the question is can you afford to open a shop when you will be doing only POS business? If you cannot, keep reading.

Stay with someone who has a shop

This is also common. You can ask someone with a shop for a little space so you can start your POS business. It is a mutual relationship because both of you will gain from it.

Get a large Umbrella

Huge umbrellas can stand as shops for you. All you need are a few chairs, a bench, a table and your POS stand is ready.

How much is needed to start a POS business?

The minimum advisable starting capital for a POS business is N50,000. With fifty thousand naira, you can run the business for hours. However, if your clients begin to increase, you have to increase you capital.

It will be better if your capital is more than N100,000.

Most POS operators in Nigeria do not have up to N150,000 as their capital, and whenever people want to withdraw huge amounts of money, they cannot deliver.

Types of POS machines in Nigeria

POS machines with high commission rates are the ones that are often tagged the best POS machines in Nigeria. I have gathered a list of best POS machines in Nigeria with high performance rate.

OPAY

Many POS operators would easily vote Opay as the best POS provider in Nigeria. Opay is a sub of the Opera Chinese company that owns Opera News, OFood and Oride.

Opay has gained ground by providing ways for Nigerians and Africans to make money online. Opay POS machines are one of the best in Nigeria currently.

How do you get Opay POS machine?

It is not a very easy process to get a POS machine from OPay for free. To get an OPay POS machine, you have to be a consistent user of the Opay app.

The first step to take while trying to get a free Opay POS is to download the Opay app.

Create an Opay agent account and login.

Upgrade your KYC level to the highest level if you can.

If you already have the OPay app, open an Opay agent account.

The next thing is how to get the POS machine.

The Opay POS machine is free, but you must have used your Opay account for some time before you can get one.

If you can find the feature already in your account, all you need to do is fill the Opay POS application form and submit it. You will get your free Opay POS machine which is one of the best POS machines in Nigeria.

Also See: Make Money Online

What do you need for Opay POS application form?

To get a free Opay POS machine, you have to fill the OPay POS machine form. Here are the details you need before you can get one:

BVN (Your Bank Verification Number)

Utility Bill

Passport

ID (A means of identification) e.g NIN, ID card, licenses etc.

Full name

Shop address

After you complete the Opay POS application form, you will get your free OPay POS machine in no time.

List of Cheapest POS machines in Nigeria

Here are the best POS machines in Nigeria:

Opay POS

Moniepoint POS

Firstmonie POS

Kudi POS

Palmpay POS

Baxi POS

Flutterwave POS

Paycentre POS

Surebanka POS

Surepadi POS

Zenith POS

Access Closa POS

UBA POS

Union Bank POS

GT Bank POS

Stanbic Bank POS

WEMA Bank POS

Itex POS

Heritage Bank POS

Bankly POS

What is the best POS in Nigeria?

The best POS machines in Nigeria as voted by POS vendors are:

Opay POS machine

Firstmonie POS machine

Moniepoint POS machine

The three POS machines mentioned above are the best POS machines in Nigeria.

What is a POS Terminal?

A POS terminal is just a place where a POS vendor uses for his business. POS terminals are points where POS machine operators use.

How do I start a POS business?

The best thing to do when starting a POS business is to go to an area where there are no ATM machines. The secret of making sales is making yourself available where your services are needed.

Get a POS machine and get a place to use for your POS business.

Do not stay close to a place where there is another POS operator, it is not very advisable. You may get reduced sales and conflicts may arise. That way, you can start a POS business and make money from it.

Also See: Make Money on Cashflowng

Conclusion- Types of POS machines in Nigeria

In order to start a POS business, it is advisable to know the best POS vending companies, best POS providers, best POS machines in Nigeria, and the POS machines with high commission rates.

This article talks about the types of POS machines in Nigeria, how to get POS machines and how to start a POS business.

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