Good morning everyone.
Please I run a seasonal business and am off season now,been thinking about other businesses I can explore,but I arrived at POS business
Gurus in the house please I need answers to these
Please don't tell me to follow any thread cause this is 2023
1.cost of acquiring the device
2.the best device for the job
3.capital required for starting the business
4.How the charges are made.

Ransomtheking:
Good morning everyone.
Please I run a seasonal business and am off season now,been thinking about other businesses I can explore,but I arrived at POS business
Gurus in the house please I need answers to these
Please don't tell me to follow any thread cause this is 2023
1.cost of acquiring the device
2.the best device for the job
3.capital required for starting the business
4.How the charges are made.

To start a POS business is not rocket science. First you need a busy location and capital, for example 250k.

To get the device, I can help but it depends on your location (I'm in Edo state).

My device of choice will be the Opay android POS. There other companies you can get POS machines from though.

Recommended companies because I've worked with them are Opay, Palm Pay and Moniepoint.

Opay android goes for 60k while the button POS goes for 45k if you're getting from an aggregator. But the price is a bit lower if you get from the office directly but you fit not see am there because most of these companies prefer to sell to aggregators who sell to agents because if the agents don't use the machines, it's the aggregators duty to go retrieve the POS.

Palm pay android goes for 55k if you wish to own it or 45k of you want to rent it. But Moniepoint on the other hand is about 30-35k from the aggregator. Their machine is button with a touchscreen. It's a bit smaller than the others.

Opay and Palm pay charges are practically the same.

For withdrawals 5 Naira per 1k but if the amount is more than 20k it's 100 naira flat.

For transfers Opay charges 10 Naira for 1-5k, 20 naira for 5-10k and 30 Naira for anything above 10k

Palm pay charges 10 Naira flat for all transfers.

I hope I've been able to answer most of your doubts

eghuan1:



To start a POS business is not rocket science. First you need a busy location and capital, for example 250k.

To get the device, I can help but it depends on your location (I'm in Edo state).

My device of choice will be the Opay android POS. There other companies you can get POS machines from though.

Recommended companies because I've worked with them are Opay, Palm Pay and Moniepoint.

Opay android goes for 60k while the button POS goes for 45k if you're getting from an aggregator. But the price is a bit lower if you get from the office directly but you fit not see am there because most of these companies prefer to sell to aggregators who sell to agents because if the agents don't use the machines, it's the aggregators duty to go retrieve the POS.

Palm pay android goes for 55k if you wish to own it or 45k of you want to rent it. But Moniepoint on the other hand is about 30-35k from the aggregator. Their machine is button with a touchscreen. It's a bit smaller than the others.

Opay and Palm pay charges are practically the same.

For withdrawals 5 Naira per 1k but if the amount is more than 20k it's 100 naira flat.

For transfers Opay charges 10 Naira for 1-5k, 20 naira for 5-10k and 30 Naira for anything above 10k

Palm pay charges 10 Naira flat for all transfers.

I hope I've been able to answer most of your doubts

Thanks bro,
I heard moniepoint has a daily target.
Based on what you have said it seems I'll be going for the opay device,but my location is cross River state.
And there's something else I'll like to ask.
Do you link your bank account to the opay device or use the opay account.i asked concerning account statement if issues comes up with you and your client.

Ransomtheking:

Thanks bro,
I heard moniepoint has a daily target.
Based on what you have said it seems I'll be going for the opay device,but my location is cross River state.
And there's something else I'll like to ask.
Do you link your bank account to the opay device or use the opay account.i asked concerning account statement if issues comes up with you and your client.

No it's not linked to your bank account. It's linked to your Opay account which is your phone number.

On your request, your account statement can be sent to your email

eghuan1:


No it's not linked to your bank account. It's linked to your Opay account which is your phone number.

On your request, your account statement can be sent to your email

Thanks bro you've really been of great help to me I really appreciate.
Na to go buy machine remain me now.
But boss sorry for disturbing
What are the important record I should keep after performing a transaction for a client.
Cause I see this agents taking something down after performing a transaction