In Nigeria today, having a reliable Point of Sale (POS) machine is essential for businesses that want to provide seamless financial transactions. One of the most trusted POS providers in the country is Moniepoint, known for its stable network, fast transactions, and affordable charges.
If you’re wondering how to get Moniepoint POS, this guide will walk you through the process, requirements, fees, and everything you need to know to become a Moniepoint agent.
Moniepoint POS is a POS terminal by Moniepoint that enables businesses and individuals in Nigeria to process financial transactions seamlessly. It allows merchants to accept card payments, perform withdrawals, transfers, and even bill payments, thereby enhancing the scope of services they can offer to their customers. With Moniepoint POS you can perform financial transactions, including:
Cash withdrawals
Deposits
Bank transfers
Bill payments (electricity, airtime, data, TV subscriptions, etc.)
Unlike many other POS providers in Nigeria, Moniepoint comes with many types that offer one of the most stable networks, reducing failed transactions and customer complaints.
Types of Moniepoint POS Machines
Moniepoint POS Terminal
Here are the different types of Moniepoint POS terminals:
1. Traditional POS Machine
The Traditional POS Machine is the most commonly used Moniepoint device for businesses and POS agents in Nigeria. It operates with a SIM card and internet connection, allowing users to process transactions seamlessly. One of its main features is the ability to print physical receipts, making it a preferred choice for businesses that require proof of transactions for customers. This POS supports cash withdrawals, bank transfers, bill payments, and airtime sales, ensuring versatility for agents. It comes with a rechargeable battery, enabling continuous service even during power outages. The traditional POS machine is the best for businesses with high transaction volumes, such as supermarkets, retail stores, and POS services.
2. Android POS Machine
The Android POS machine is another type of moneypoint POS with a more advanced version of the traditional model, featuring a touchscreen display and running on an Android operating system. This smart POS provides a modern user interface, making transactions faster and easier to navigate. Unlike traditional POS machines, it does not require paper rolls, as it can send receipts via SMS or email. It also supports multiple payment methods, including card payments, QR codes, and contactless transactions. This makes it an excellent choice for restaurants, hotels, and high-end retail businesses that prioritize a smooth and paperless transaction experience.
3. Mini POS (MPOS) Machine
The Mini POS (MPOS) Machine is a compact and lightweight device designed for mobile businesses and small-scale entrepreneurs. Unlike traditional POS systems, it connects to a mobile phone via Bluetooth and operates through a mobile app. This makes it easy to carry around, making it ideal for street vendors, delivery services, and businesses that require on-the-go transactions. While the Mini POS does not print physical receipts, it provides customers with transaction confirmations via SMS. It is best suited for low-volume transactions and business owners who want a simple yet effective payment solution.
4. Smart POS Machine with Fingerprint Scanner
The Smart POS Machine with Fingerprint Scanner is a highly secure POS solution designed for businesses and financial service providers that handle sensitive transactions. It features an integrated biometric fingerprint scanner, which adds an extra layer of security by verifying users before completing transactions. This type of POS supports cash withdrawals, transfers, bill payments, and other financial services, making it a preferred choice for banking agents, government agencies, and businesses dealing with high-value transactions. With a touchscreen interface and multiple authentication methods, this smart POS ensures safe, fast, and efficient financial operations.
To qualify for a Moniepoint POS machine, you need to provide the following:
✔ Personal Identification: A valid National ID, Voter’s Card, Driver’s License, or International Passport.
✔ Bank Verification Number (BVN): Required for verification and security.
✔ Business Details: Information about your business (if applicable).
✔ Utility Bill: Proof of your business or home address.
✔ Active Bank Account with Moniepoint: This is where you’ll receive your transaction funds.
Now that you know the requirements, let’s go through the steps on how to get a Moniepoint POS machine.
How to Get Moniepoint POS
Moniepoint POS
Step 1: Register with Moniepoint
To begin, visit the official Moniepoint website (moniepoint.com) or download their mobile app to create an account. You’re to create a business account, and you need to provide your name, phone number, email address, and your business details.
Step 2: Complete KYC (Know Your Customer) Verification
After you’re done with the registration, Moniepoint will ask you to verify your identity by submitting:
A valid government-issued ID
Your Bank Verification Number (BVN)
A recent utility bill for address verification
Your business registration documents (optional but helpful)
This step is important for security and compliance with financial regulations.
Step 3: Request a Moniepoint POS Machine
Once your account is verified, log in to your Moniepoint dashboard and navigate to the POS request section. Here, you can choose the type of POS machine that best suits your business needs.
Step 4: Pay the Required Fees
Before receiving a Moniepoint POS machine, applicants must pay certain mandatory fees to cover rental, maintenance, and insurance. These include a Caution Fee of ₦10,000, which serves as a security deposit for the device, a Logistics Fee of ₦10,000 to cover delivery costs, and an Insurance Fee of ₦1,500 per year to protect against damages or theft. In total, the required payment is ₦21,500, ensuring that the POS machine remains functional and well-maintained throughout its use.
Step 5: Receive and Activate Your POS Machine
After making the required payments, Moniepoint will deliver the POS machine to your location within 48 hours (depending on your location).
Once you receive the device, follow the instructions in the user manual to activate and set it up. If you encounter any issues, Moniepoint’s customer support team is available to assist you.
Moniepoint POS Charges and Transaction Fees
Before using the POS, it’s essential to understand Moniepoint’s transaction fees:
✅ Withdrawals (₦1 – ₦20,000): 0.5% of the amount ✅ Withdrawals (Above ₦20,000): Flat ₦100 ✅ Transfers: Flat ₦20 per transaction ✅ Airtime Top-Up Commissions:
MTN: 3%
Glo: 4%
Airtel: 4%
9Mobile: 4.5%
These charges are cheaper than most POS providers in Nigeria, making Moniepoint a great choice for businesses.
How Long Does It Take to Get a Moniepoint POS?
Once you complete the registration, verification, and payment, Moniepoint processes your request within 24 to 48 hours. However, delivery time may vary depending on your location.
If you don’t receive your POS within the expected time, contact Moniepoint customer support for assistance.
Common Issues and How to Resolve Them
🔴 POS Machine Not Delivered on Time? – If your POS hasn’t arrived within 48 hours, contact Moniepoint’s customer support via their website or app.
🔴 Transaction Failure? – Ensure your POS is connected to a strong internet network. If the issue persists, contact Moniepoint support.
🔴 POS Not Printing Receipts? – Check if the paper roll is properly loaded or replace it with a new roll.
🔴 Login Issues? – If you can’t log in to your Moniepoint dashboard, reset your password or contact customer service.
5. Can I use Moniepoint POS for bill payments and airtime recharge?
Yes! Moniepoint POS allows you to sell airtime, pay electricity bills, cable TV subscriptions, and more, earning commissions on each transaction.
Conclusion
Getting a Moniepoint POS machine is easy and beneficial for any Nigerian looking to start a POS business or add payment services to their existing business. With its low transaction fees, stable network, and fast processing time, Moniepoint remains one of the best POS providers in Nigeria.
If you’re ready to start, visit Moniepoint’s website today and apply for your POS machine!
