If you are looking for a Profitable Business you can start with 50k to 100k in Nigeria, then this article will surely give you ideas and everything you need to know about becoming a POS (Point of Sale) agent in Nigeria.

A POS business or mobile cash agent is someone who gives cash to customers in exchange for a commission or charge using a POS system. The Nigerian POS business is currently one of the most active enterprises that an ordinary individual may start.


Due to the unavailability of ATMs and long lines, the POS initiative is gradually replacing ATMs because it provides clients with simplicity and convenience.

In this article, MyStudyExtra has put out some ideas and information you need to know about Starting up a POS business in Nigeria, how to become a POS Agent/operator, why you should start a POS business in Nigeria, Requirements, the Best location for POS Business and how much you could make a month as a POS agent.

Overview of POS Business In Nigeria

The Central Bank of Nigeria (CBN) developed the Agent Banking system, also known as the Point of Sale (PoS) system today, in 2013, and it has since been a go-to medium for numerous financial transactions.

A POS firm primarily supports retail sales transactions, with services such as cash transfer and withdrawal, airtime sales, bill payments for satellite TV providers such as DSTV, GOTV, and Startimes, as well as the purchase of power units (PHCN) and other utility bills.

Outlets can be found throughout the country, especially in places where goods and services are sold or delivered, such as marketplaces, shopping centers, fuel/gas stations, restaurants, offices, pharmacies, and so on.

It is important to note that a PoS agent is not an employee of the bank but is an independent contractor with a service provider, which is usually a bank or financial technology firm.

Operating a POS terminal is a legitimate and profitable business people can start with little capital in Nigeria. To start, there are factors to be considered to ensure the smooth kickoff and operation of the business.

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