Best Bank For POS Business in Nigeria (With Low Charges)

Are you searching for the best POS agent banking platforms to start your business? Search no more as we bring you the best bank for POS business in Nigeria.

We all have heard of POS at one point or another. Point of sale (POS) provides services that help us withdraw and send funds conveniently. In case you want to get information on some renowned POS agencies in Nigeria, here’s all you need to know. However, let’s take a look at the meaning of POS machines.

What is a POS machine?

The term ‘POS’ is short for point of purchase or point of sale. It simply means the moment and location where a transaction ends. Basically, the POS machine is hardware that processes, records, and finalizes credit or debit transactions. The machine can come in various forms ranging from as small as a mobile phone to as large as a display monitor.

Best Bank For POS Business in Nigeria

There are various POS agencies with a reasonable commission rate in Nigeria. Here’s a comprehensive list of some reputable POS agencies in Nigeria.

1. First Monie POS agency

Basically, this POS agency is sponsored by first bank of Nigeria. First bank is a well-known commercial bank in Nigeria with lots of customers. In addition, First monie provides a free POS machine making it easy for you to become an agent.

How can I become a First Monie agent?

You have to follow the steps below to become a First Monie agent:

  1. Open an account with First bank
  2. Download and install First Monie app. This app is available on IOS and Google store
  3. Execute at least ten transactions every day. You have to do this for three months.
  4. Thereafter, you will be able to ask for a First Monie POS machine from First bank.
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2. UBA Monie POS agency

UBA is one of Nigeria’s largest and most popular banks. The bank provides POS machines and services at retail locations to meet its customer’s needs.

How can I become a UBA POS agent?

You can become a UBA pos agent by getting a UBA moni pos. First, you must have a monthly turnover of at least N35,000 for every transaction you make per day. Thereafter, you can follow the steps below:

  1. Identify an existing UBA pos merchant and print a registration form.
  2. Next, you can fill, scan and submit the form to the nearest business office.
  3. Go to the e-banking helpdesk, login, and complete the information on the page.
  4. Upon successful registration, you will be given an issue number for future tracking.
  5. Thereafter, UBA e-banking support will give you a deployment date.

You can obtain a comprehensive loan, tailored to your specific needs by using this platform. Basically, it allows you to compare loans from different lenders across Africa, ensuring the best option doesn’t slip through.

3. Opay POS agency

Opay is a mobile money platform licensed by CBN. They provide low fees and convenient ways to execute pos transactions. Also, the platform is reputable for being one of the most reliable pos agencies in Nigeria.

How can I become an Opay agent?

Here are the steps required to become an Opay pos agent:

  1. Download and install the Opay app.
  2. Next, you have to create and register for an agent account.
  3. Thereafter, you have to upgrade your account to an agent level. You can upgrade your account by providing your personal details and documents to Opay.
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Upon successful registration and upgrading, you can start performing transactions with your account. After a reasonable number of transactions, you will be able to request an Opay pos machine.

4. Nomba POS Agency

This agency focuses on offering electronic banking experiences to everybody. Also, you can make money by becoming a Nomba pos agent and rendering financial services. Kudi is one of Nigeria’s most profitable mobile money agents.

How can I become a Nomba POS agent?

You can become a Nomba pos agent in three easy steps. They include:

  1. Download and install the Nomba app
  2. Open an account
  3. Finance your wallet
  4. Lastly, you can start executing financial transactions after funding your wallet. To get a Nomba pos machine, you must own a sizable network of agents.

5. Monie Point POS agency

This agency is reputable for being fast, reliable, and profitable. Monie point allows its agents to act as a mini bank for their community. With Monie point, you can provide services like cash withdrawals and transfers, paying bills, as well as airtime top-up.

How can I become a Monie Point POS Agent?

  1. You can become a Monie Point agent by signing up on their website, Here are few steps to guide you on how to go about it:
  2. Click on ‘Get started’
  3. Input your full name, phone number, email, and other important details
  4. Choose other POS agencies you work with (if any)
  5. Thereafter, an aggregator will contact you and give you further instructions. You can apply to get a pos machine for a small fee.

6. Access Closa POS Agency

Access bank, a reputable bank in Nigeria owns Access Closa pos agency. This agency brings the bank to your doorstep thereby saving you a whole lot of stress. Also, its agents are given quick pos devices that help you execute all your financial transactions.

The Available Services in The POS Business

1. Account Opening

2. Cash Withdrawal

3. Inter-Bank Transfers

4. Cash Deposit

5. Bills Payments

6. Funds Transfers

7. Airtime Purchase/Recharge

8. Instant Card Issuance

9. BVN Enrollment

10. Change of Pin

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