Moniepoint POS is one of the mobile money operators in Nigeria that uses Point of Sale (POS) machines as their main device to carry out transactions just like other companies such as OPay, Access Clossa, UBA, Kudi, MoMo Agent, etc.
Have you been looking for a way to get Moniepoint POS and you haven’t been able to get one? Contact a customer care representative to apply for one, it costs ₦35,000 naira click WhatsApp Chat
These POS devices are given to agents who have been licensed and at the same time vetted in a rigorous Know Your Customer (KYC) process.
Moniepoint and other POS merchants across Nigeria have put measures in place to ensure the security of these devices.
Moniepoint’s mission is to provide employment to many youths who are out of employment by giving them the opportunity to become a “mini-bank” in which anyone around their vicinities can easily walk up to them and carry out transactions as they would in the banks.
Moniepoint POS is a business initiative launched by a startup Fintech company in Nigeria and currently investing in order to expand to other parts of Africa.
If you’re looking to know more about Moniepoint POS, stay on this page!
How Do I Apply for a Moneypoint POS in Nigeria?
Applying for the Moniepoint POS machine is easy but you must be:
Above 18 years,
A Nigerian and
Own a smartphone
How to Request Moniepoint POS Machine?
Requesting for Moniepoint POS is easy and fast compared to other MMOs.
Once you meet the basic requirements stated above, you can get started by creating an account by contacting a moniepoint distributor: Call or WhatsApp 08117390242
Moniepoint usually confirms and contacts new users who just signed up on the platform within 48 hours. This person who manages agents will then take it up from there.
You can as well visit their physical address office to complete your registration.
After they might have contacted you, you will be mapped to an aggregator and from there, you can get everything done within a short time.
What are the basic requirements to complete Moniepoint agency registration?
Once you are mapped to an aggregator, the documents listed below will be required from you as part of the KYC (know your customer) policy. Here are the documents:
A valid Identification Card (International Passport, NIN, Voters’ Card, or Driver’s License)
Utility Bill (waste bill, electricity bill, land-use charge, water bill, or tenancy agreement)
CAC documents (for registered businesses only)
UNDERSTANDING MONIEPOINT POLICY
Things To Know about Moniepoint POS
1. Moniepoint POS is not for sale I.e ( It remain 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 Daily target is 50k withdrawal per day, from Monday to Saturday. Or weekly performance must not go below 150k or else the pos will be retrieved from you.
4. Agent must agree to return the pos when not in use anymore (incase if agent quit pos bussiness or any other financial problem).
5. Refund of POS when returned back is 10,000 naira
With a sum of N26,500 (twenty thousand Naira only), you can get a Moniepoint POS device within 24-48 hours.
What are the Moniepoint POS charges and commission structure?
The volume of transactions via the terminal determines the charges by Moneypoint 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.
For Data Top Up:
MTN 3% commission
Glo 4% commission
9Mobile 4.5% commission
Airtel 4% commission
- For TV Subscription:
DSTv 2% commission
GOTv 2% commission
PHCN 2% commission
Star Times 2% commission
What are the applicable rules to Moniepoint POS usage?
Minimum of N50,000 (Eighty Thousand Naira only) daily withdrawal value.
You will get 10,000 naira of the N25,000 paid during registration if an aggregator has any cause to withdraw your Moniepoint POS device within a year of issuance.
What if I have an issue with the Moniepoint POS device afterward?
Moniepoint has a refund policy for their agents to resolve any issues should there be one.
The company handles disputes and refunds in a more professional way and that shouldn’t be an issue for you – if you’re planning on partnering with them. The company will assign someone to you to resolve your case as soon as you open a ticket.
One benefit you will get with Moniepoint POS that you won’t find anywhere is that you’ll be added to a WhatsApp group of agents like you to share ideas/challenges and help you grow in no time.
9 thoughts on “How To Get Moniepoint POS Machine In Nigeria; Price & Charges”
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