- On average, the Moniepoint POS terminal cost N21,500. This includes N10,000 for cautionary fee, N10,000 for logistics fee, and N1,500 for insurance fee that last for one year.
- The Moniepoint POS is cheaper than other POS because it’s lease out on cautionary policy.
- Hence, Moniepoint agents need to meet up with daily target to keep the terminal active.
Moniepoint is one of the leading agency banking firm in Nigeria. As of June 2024, the company boosts for over 300,000 point-of-sale (POS) agents, making it the second-largest in the country.
Durability, affordability and credibility are factors that have contributed to fast adoption of Moniepoint POS in Nigeria. However, it’s important to know that Moniepoint lease out its POS terminals — which means, the payment terminals are purchased on cautionary notice.
While you don’t need a lot of money to get Moniepoint POS, it’s also important to note that you will need to meet up with daily target. More so, Moniepoint also charges commissions for transactions, including card withdrawals, funds transfers, and airtime payments.
But, do not worry. Moniepoint POS offers many benefits than its disadvantages. In this article, we will walk you through everything you need to know about Moniepoint POS terminal, how much it cost, its charges and commissions, daily targets and how to become an agent.
Moniepoint POS Terminals
There are many types of Moniepoint POS terminals but the popular one is SmartPOS. Moniepoint POS also includes; SmartECR device, Traditional POS device, Mobile POS, Muitiline POS, PIN Pad (MiniPOS) and more.
However, SmartPOS is the most commonly seen Moniepoint POS. The POS terminal cost 21,500 including daily target of N20,000. More so, it’s important to note that these Moniepoint POS machines come with various functionality and purpose.
The Moniepoint SmartPOS features all Moniepoint agency banking services. The remaining POS machines are lacking one or two functionalities but focus on a specific needs.
Moniepoint POS Charges
Moniepoint POS charges are as follows: For withdrawals, it’s 0.5% of the amount for transactions between N1 and N20,000, and a flat fee of N100 for amounts over N20,000. Transfers have a flat charge of N20. Airtime purchases cost 2% for all networks, while bill payments are free. Cashback offers include up to N20 on withdrawals and N5 on transfers.
Furthermore, it’s important to note that every Moniepoint agent has a daily transaction target of N20,000 as of 2024. The Moniepoint daily target encourages consistent effort, motivates the POS agent to increase transactions, and helps manage cash flow effectively.
