NewStats: 3,265,243 , 8,186,109 topics. Date: Saturday, 14 June 2025 at 03:46 AM gf6i

JGirl20:


Good morning
The activation cost is 23k
Withdrawal Charge is #5 for #1000 capped at #100
Transfer charge: #20 for any amount

Thank u

dapada91:
I love this thread, please how can I get the moniepoint terminal?I want to start a POS business next month in ibadan.have already got a spot close to oba akinbiyi,mokola ibadan.

Did you finally start? How is it going?

JGirl20:

There's one without target sir
You can dm me to get one for your business

Pls can you educate me on the current cost of Moniepoint POS terminals and how much is the charges on transactions? Thanks.

Ransomtheking:

Yeah I got the terminal for sure!I can say POS business is really for the strong or maybe I got the wrong terminal,That decline and debited my clients card and sometimes transfer didn't drop in the recipients .
Lol 😂😂😂 that year i went to different banks with some client to despute failed transactions.
At some extend I stopped the POS business cause am faint hearted,
This was during the cashless policy and bank servers were down tho
500k as start-up capital is more than enough
I recommend an Opay terminal for you sir don't even go for monie point
Then there's Nomba the one I used their customer service is top notch
When a card declines twice don't try it again if you are to try it wait for sometime
Always keep receipts of failed transactions
Make sure the person withdrawing actually owns the card 💳 cause e dey cause trouble if possible take down the clients NIN cause e fit save you tomorrow (from 100000 and above)
By the way I don leave POS for strong people
Am into driving and cocoa farming now😉

Thanks so much

eghuan1:



Except you have a busy location, POS business is not that lucrative compared to three or four years ago because of the number of people using POS for businesses now. Almost every shop now has a POS machine for payment and many more are still buying for use.

So for locations, look for busy bus stops, especially in the mornings and evenings when workers are going to work or coming from work. or you look for spaces around a market.

Another option is to have a steady supply of cash. this you can meet some market women, fuel stations, i will not recommend banks or ATM machines because you will not get much.

For the POS to use, i will recommend the Opay Smart POS (not because I work with Opay) because Opay has the ability to switch networks while the transaction is going on while other companies cannot do that. That is why you hardly see very low percentage when talking of failed transactions with Opay. Then also consider the internet service provider that is very good in your area. 1gig of data will not finish on the POS for a month. so choose a very strong network. Please run away from Glo.

Don't expect any POS to come with Umbrella, T-shirt, table or any branding materials. anybody mention that to you, just know say na scam.

Thanks so much

yhygajo:
Instead of bank loan with interest charges, why npt organize adashe with some colleagues of yours and pick first. Thats how i started by business when i got newly employed

Thank you so much for your contribution. I'll work towards that.

Firebox123:
pos business isn't easy like that ooo

Nothing good is.

Interesting thread. I learnt a whole lot. I'm thinking of starting a POS shop and the comments here were helpful. More tips will be helpful though. Thanks.

Firebox123:
actually pos is a good business

Incase you need pos machine or guidance on pos business

Lemme know

Alright. Thanks bro

Lamanii22:
Moniepoint that’s the one I’m currently using

Pls are using your moniepoint POS terminal for POS business? I'm thinking of going into the biz and want to know more if you can oblige me.

Firebox123:
have you gotten the moniepoint pos

Not yet. I'm here making research before I decide.

Firebox123:
don't try it ooo

Why na? People dey cash out oo. Salary no dey enough in this Tinubu economy. I need a side hustle seriously.

Mohisah:
I mean having someone from your family who'll be your staff is better. Coming to drag an innocent POS staff because he/she was duped is something to look at. If it's a family member, you might just overlook it.

Notorious BIG said, "Keep your family and business completely separated". So issue of employing family is out of it. And of cos I'll sure hold my staff responsible for any negligence. I'll be running a business not charity. Thanks for your contribution

Nadingo:
Go for it. Salary nowadays no be wetin u go depend on. You need a side hustle in this Tinubu economy. But do your due diligence before you go into it.

Thanks

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

Afternoon sir. I'm thinking of going into POS business using moniepoint. What are their rates pls? What other advice would you give a newbie?

Ransomtheking:

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

Good day Boss. Did you finally get the POS terminal? How has it been so far? I'm thinking of going into it with an initial capital of 500k. Any tips on the best provider, do's and dont's, what to look at for?

May all hoarders incure more losses as the years go by.... ameen.

Mohisah:
Handle it within the family to avoid issues with your employee. There's a risk of Yahoo boys.

Thank u for your response. I'll not have any issue with my employer (FG) as it is my bank that will be financing the loan. I do not want to borrow from family as it might make me too relaxed and not take the biz seriously knowing that if I fail to pay nothing go happen. Fidelity Bank, where my salary is domiciled, are willing to give me 500k to be deducting about 53k monthly for one year, which I think will not affect me too much.

Good day my people. Pls will you advise accessing a salary deductible loan to start a POS business? Wife has a shop in a relatively high traffic location where there's no POS stand within 100m. So all I'll need is capital and a sales girl to handle it. Kindly advise.pls

Orlando22:

I have been offered appointment at FAAN recently now in Lagos international airport....

Ahh... You didn't even bother to look back and inform your comrades? Na so you for keep mute if i didn't ask abi? Congratulations. I'm happy for you

Where is my friend, Orlando22?

Nadingo:
Oh apologies. I get you now.

You're that same guy from the minimum wage brouhaha. I've noticed two things about you. You are always quick to look for trouble without fully comprehending your perceived opponent's intention. And you are always quick to apologize when you realize your L. Funny man.

Beware of scam

https://nairaland.macsoftware.info/8278961/drickstore-where-tv

abc115:


Shatapp

Okpa

abc115:
Animal cruelty

Dispose it off

Don't be unfortunate

Where is that brat that insults people up and down because of REA recruitment? I hope she made the cut.

MrCGPA:


Monthly Salary of around #95,000 if you are starting with First Degree.

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pakingzzzzz:


Yes it can.. We the the new generation split unit and microprocessor driven motor. The tend to do "soft start" on the motors.
This soft start gets the motor gently turning, but not enough to cause it to want to pull the maximum times three current during start up

Thanks for the explanation bro

Has anyone successfully traded with this vendor online?

ditha:
I know they both grant the visa. even GTB. I am not sure what you mean by effective

Thank you