Last Updated: Janaury 2023
Getting a Moniepoint POS terminal is considered by most business owners to be the first step towards a more modern and ultimately safer way of handling payments to your business.
A POS terminal is a device that allows businesses to securely process in-person transactions, such as credit and debit card payments. This can help improve the customer experience by providing a quick and easy way for them to pay for their purchases.
Why do you need a POS for your business?
One of the biggest advantages of using a POS terminal is that it can help reduce the risk of fraud. Moniepoint POS terminals are equipped with advanced security features, such as encrypted payment processing and the ability to flag suspicious transactions. This can provide peace of mind for both your business and your customers.
Not only do they make receiving payments from your customers a seamless and secure process, but they also offer proof of payment to make bookkeeping easy for your business. By adding one to your business, you also give your customers the ability to pay with their cards or make a transfer in the event they don’t have enough cash.
Why you should get a Moniepoint POS
Besides being renowned for having the most stable network in Nigeria, there are many reasons why 90% of business owners choose a Moniepoint POS to power how their business accepts payments. A few of these reasons are:
- Secure payments that protect you and your customers
- Easy-to-use operating system
- Instant dispute resolution whenever you need it
- Compatible with all cards
- Long-lasting battery
- Accepts card and transfer payments
What Are The Requirement for a Moniepoint POS Machine
To get a Moniepoint POS, first, you need a Moniepoint business account. Click here to learn how to open one.
Now that you have a Moniepoint Business account, It’s time to learn how to get yourself a POS! With a Moniepoint POS, you can accept both transfers and card payments for your business easily and without stress.
3 Rules to know before getting a Moniepoint POS
If you are wondering how do I get a Moniepoint POS machine, you need to know that before you are allowed to get one, there are 3 important rules you need to know:
- Despite paying for a Moniepoint POS, you don’t own it. Moniepoint leases you the POS, so you don’t have to spend heavy capital to have a terminal for your business.
- Moniepoint cares about your business growth. So we encourage you to process a minimum of N80,000 in transactions daily. If your POS can’t hit this target, it is considered underperforming and you risk it being reassigned.
- Proper handling of a Moniepoint POS doesn’t go without its benefits. If a Moniepoint remains in great condition when it is retrieved, we will reward you with N10,000.
Moniepoint POS Charges and Commission Structure
Moniepoint charges a flat rate 0.5% of the transaction amount for withdrawals between N1 to N20,000
They charge a flat rate of N100 for transactions above N20,000
They charge a flat rate of N20 for transfers
Moniepoint gives a BOs cashback of up to #20 on withdrawals and #5 on transfers.
For airtime, they charge 2% for all networks.
There is no charge placed on bill payments.
How to get Moniepoint POS Machine for your business
Now that you know the rules, let’s help you get your first POS.
To get started;
- First, log in to your business account and select the business you want a POS terminal for.
- On your chosen business’s dashboard, click the POS menu under “Channels”
- Click on the POS menu and then click on Request New POS.
- The Moniepoint signature POS terminal is the MP35P Smart POS terminal. It’s a user-friendly terminal with a touch screen that makes it easy for anyone to use.
- The Moniepoint terminal costs N21,500. N10,000 is the caution fee, N10,000 is the logistics fee, and N1500 is the insurance fee for a whole year.
- Click on the MP35P to move on to the next step.
- Fill in the address where you would like your Moniepoint POS delivered.
- Once done, fund your Business Account with a minimum of ₦21,500 for the POS Terminal and complete the request by making a payment.
- You will be instantly assigned a dedicated Relationship Manager from Moniepoint. Click “Select RM” to see more details about them, The Relationship Manager will deliver the POS terminal to you within 48 hours, train you on how to use the terminal and answer any questions you may have.
Don’t have an account yet? Click here to open a Moniepoint account today and get a Moniepoint POS for your business.
For any questions, contact us at email@example.com. Our expert staff are available 24/7 to provide solutions to anything you might need.
Your POS terminal is compatible with all cards.
No, but you can always contact our customer support if you have any questions.
Our wonderful customer support team members are always there for you. Reach out to them via firstname.lastname@example.org