The Moniepoint POS machine is priced at ₦21,500. Pay once, and it's yours with no extra charges. There are no ongoing maintenance fees. The POS terminal cost ₦10,000, Logistic fee is also ₦10,000 and Insurance fee incurs for the remaining ₦1,500.
To request the POS machine, you'll need to create a Moniepoint Business Account. Once you become an agent, you can request for the POS Machine and empower your business with cashless transactions.
Moniepoint POS Machine's Transaction Fees
For withdrawals, the fees are structured as follows: for amounts ranging from ₦1 to ₦20,000, there is a 0.5% fee of the transaction amount. For withdrawals exceeding ₦20,000, a flat fee of ₦100 is applied.
Transfers, on the other hand, incur a flat fee of ₦20, applicable to transfers to any bank in Nigeria. More so, Airtime top-ups have a 2% transaction fee for all networks and Bill payments are free of charge on the POS terminal.
How much does Moniepoint Charge for ₦10,000?
For a withdrawal transaction of ₦10,000, Moniepoint charges 0.5% of the transaction amount. Let's calculate this:
0.5% of ₦10,000 = 0.005 *10,000 = ₦50
So, Moniepoint charges ₦50 for a withdrawal of ₦10,000.
How to get Moniepoint POS?
To get a Moniepoint POS machine, start by visiting the Moniepoint website or contacting an authorized Moniepoint agent. You will need to complete a business account application form, providing necessary business and personal details, including identification documents and business registration information.
Here are the requirements to open a Moniepoint Business/Agent Account. Once your application is reviewed and approved, you will be required to make a payment of ₦21,500 for the POS machine. After purchasing the machine, Moniepoint will guide you through the setup process.
This includes activating your agent account, which enables you to use the POS machine for various transactions such as withdrawals, transfers, airtime and data top-ups, and bill payments.
Moniepoint, through dedicated account manager, will also provide training on how to use the POS machine and offer ongoing support to ensure smooth operations for your business.
Moniepoint POS Daily Target
Moniepoint has a daily transaction target for its agents to encourage consistent and high-volume usage of their POS machines. As of 2024, every Moniepoint agent has a daily transaction target of ₦20,000. This target can help agents remain active and enjoy certain benefits, such as lower transaction fees and priority support.
Meeting the daily target can also qualify agents for additional incentives or rewards from Moniepoint. It’s important for agents to stay informed about their specific targets and any associated rewards or penalties by regularly communicating with their Moniepoint account manager or support team.
How much is Moniepoint Android POS?
Moniepoint is no longer offering an Android POS. You can only see this type of Moniepoint POS on E-commerce websites like Konga and Jiji, and the price can vary depending on the person willing to resell their own.
Generally, Moniepoint Android POS devices can be more expensive than the SmartPOS and Mini POS machines due to they're no longer available on the Moniepoint offerings and those that still have will likely tag it with a huge price.
Notwithstanding, the cost for the Moniepoint Android POS will probably ranges from ₦50,000 to ₦100,000 or more.