Finance

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

Moniepoint POS agent requirements

To become a Moniepoint POS agent, you need to fulfill the following requirements:

A minimum of N80,000 withdrawal value daily.
You need at least 4 counts of deposits per day.
You should maintain a minimum of N150,000 daily transaction value. If you fail to meet this requirement, the POS machine can be withdrawn from you.

Additionally, before applying as an agent, you will need the following documents:

Valid Business License
Bank Verification Number (BVN)
Valid Bank account number
Utility bill (such as Nepa bill)

How To Get Moniepoint POS

To obtain a Moniepoint POS machine, you can follow these steps:

Create a Business Account: Instantly set up a business account by visiting the Moniepoint website. Once completed, log in to your business dashboard and navigate to the POS menu.

Request a New POS: Click on the “Add a new POS” button within your business dashboard.

Follow the provided instructions to initiate the process of acquiring a new POS terminal.

Fund Your Account and Pay for the Terminal: To proceed, fund your newly created Business Account with a minimum of N21,500 specifically allocated for the POS Terminal.

This amount includes a N10,000 caution fee, N10,000 logistics fee, and N1,500 insurance fee for one year.

Complete the transaction to confirm your request.

POS Delivery within 48 Hours: After funding, expect swift action. Your request will trigger the assignment of a dedicated Relationship Manager from Moniepoint.

Your POS terminal will be delivered promptly within 48 hours, ensuring a seamless start to your point-of-sale operations.

MoniePoint POS Charges

On each transaction performed on MoniePoint, you need to note that there are associated charges.

These charges are structured to reflect the transaction amount and type, ensuring transparency and fairness in the fee schedule. Here’s a breakdown of the charges:

Read: How To Withdraw Money From Palmpay Ok Card To Bank Account

Withdrawals: For cash withdrawals of up to N20,000, MoniePoint applies a fee of 0.5% of the transaction amount.

This means that if you withdraw N10,000, a fee of N50 (0.5% of N10,000) will be charged.

For transactions exceeding N20,000, MoniePoint applies a flat rate fee of N100. This ensures that customers are aware of the applicable charges depending on the withdrawal amount.

Money Transfers: When it comes to money transfers, MoniePoint applies a flat rate fee of N20 per transaction.

This means that whether you are transferring N1,000 or N100,000, the fee remains constant at N20, providing simplicity and predictability for users engaging in money transfer services.

MoniePoint POS Machine Price

As of 2023, the MoniePoint POS machine continues to be recognized as one of the most cost-effective and reliable POS solutions available in Nigeria.

Priced at N21,500, acquiring a MoniePoint POS machine directly from the company presents an affordable investment for individuals and businesses seeking to expand their payment processing capabilities.

This competitive pricing strategy has contributed to the widespread adoption of MoniePoint POS machines across various sectors, enabling small and medium-sized enterprises to enhance their transaction processing infrastructure without incurring significant upfront costs.

MoniePoint POS Daily Target

The daily transaction target for Moniepoint has been significantly increased from N25,000 to N150,000.

This adjustment reflects the evolving needs of agents and businesses using the Moniepoint platform, empowering them to facilitate larger volumes of transactions within a given day.

By raising the daily target to N150,000, Moniepoint is demonstrating its commitment to supporting the expansion of financial services and digital payment capabilities, allowing agents to cater to a broader range of customer transaction requirements.

FAQs On How To Get Moniepoint POS Machine, Charges, Price, Daily Target

Here are some helpful frequently asked questions on How to get Moniepoint POS Machine, Charges, Price, Daily Target with their respective answers:

How much is a moniepoint POS Machine?

The MoniePoint POS machine is available at a price of N21,500.

However, it’s important to note that the price may vary based on the specific agent or location from which it is acquired.

Does moniepoint have a bank

Yes, Moniepoint does have a bank but not a commercial bank like Access, GTB etc.

Moniepoint Microfinance Bank is the definitive bank for small and medium-sized businesses in Nigeria and is regulated by the Central Bank of Nigeria (CBN).

It provides an all-in-one payments, banking, and operations platform for businesses.

Moniepoint also offers personal banking solutions that enable people to pay online and offline with ease, transfer money, and pay bills.