PalmPay is a leading mobile money and payments platform in Nigeria. The company offers a variety of services, including mobile money transfers, airtime top-up, bill payments, and POS payments.
If you are a business owner or entrepreneur, you may be interested in getting a PalmPay POS machine. A POS machine allows you to accept payments from customers using their debit or credit cards. This can be a convenient and efficient way to collect payments, and it can also help you to attract more customers.
In this article, we will discuss the PalmPay POS charges, daily target, POS machine price, and how to get a PalmPay POS machine. We will also provide some tips on how to use a PalmPay POS machine effectively.
PalmPay POS Charges
PalmPay offers a flexible and transparent pricing structure for their POS services, catering to various transaction types:
- Cash withdrawal: 0.5% (VAT Inclusive) capped at N100 per single POS transaction. This ensures that the fee is reasonable and doesn't exceed N100, even for larger withdrawals.
- Bank transfer: A flat fee of N10 is applicable for any amount transferred, making it a cost-effective option for customers.
- Airtime top-up: A 3% charge is applied to the amount of the airtime top-up. Customers enjoy the convenience of easily recharging their mobile phones through the POS machine.
- Bill payments: PalmPay provides bill payment services free of charge, offering added value for both customers and businesses.
- Referral bonus: PalmPay incentivizes growth by offering a referral bonus of N200 for each successful referral, encouraging agents to expand their customer base.
Additionally, there are other charges that may apply, such as a debit card funding fee for PalmPay accounts. It's essential to review the complete list of PalmPay POS charges available on their website for a comprehensive understanding of the pricing structure.
Furthermore, to acquire a PalmPay POS machine, a caution fee of N20,000 (for the regular POS terminal) or N30,000 (for the newer android model POS device) is required. This caution fee is refundable within 15 days of returning the POS machine in good condition, without any damage.
PalmPay POS Daily Target
PalmPay does not impose any daily target on its POS agents. Unlike some other POS services, there is no minimum transaction volume requirement that agents need to meet within a specific period.
This lack of a daily target allows PalmPay POS agents to operate with greater flexibility, focusing on delivering exceptional service to their customers without the pressure of meeting specific transaction quotas. Agents can provide seamless payment solutions and cater to their customers' needs without any constraints related to daily transaction goals.
By removing the daily target, PalmPay empowers its agents to concentrate on building strong customer relationships, growing their businesses, and providing a top-notch payment experience to all users.
This level of freedom and autonomy sets PalmPay apart as a user-friendly and agent-centric POS service, making it an attractive option for businesses seeking an efficient and stress-free payment solution. With no daily target to worry about, PalmPay POS agents can confidently embrace their role in enhancing the payment ecosystem and contributing to a seamless cashless experience.
Palmpay POS Machine Price
The PalmPay POS machines offer two options to cater to different business needs and preferences:
- PalmPay Android POS Machine:
- Price: ₦41,500
- Features: This Android POS machine comes equipped with a built-in printer and a user-friendly touchscreen display. It supports EMV chip reading and contactless payments, enhancing security and convenience for both merchants and customers.
- PalmPay Button POS Machine:
- Price: ₦21,500
- Features: The PalmPay Button POS is a more compact and portable option. It does not have a built-in printer and does not support EMV chip reading or contactless payments. This makes it a suitable choice for businesses with specific space and mobility requirements.
In addition to the POS machine cost, both options require a one-time caution fee:
- For the PalmPay Android POS: ₦20,000
- For the PalmPay Button POS: ₦30,000
The caution fee is refundable if the POS machine is returned in good condition within 15 days of purchase. This fee acts as a form of security for PalmPay and encourages responsible handling and usage of the POS machines.
When considering a PalmPay POS machine for your business, it's essential to assess your specific needs and budget constraints. Each POS option offers unique features, allowing you to select the one that best aligns with your operational requirements and customer preferences.
How to Get PalmPay POS Machine
Getting a PalmPay POS machine for your business is a straightforward process. Here are the steps to acquire a PalmPay POS machine:
- Visit the PalmPay Website or App: Start by visiting the official PalmPay website or download the PalmPay mobile app from your device's app store.
- Register as an Agent: Click on the option to "Become an Agent" on the PalmPay platform. This will lead you to the agent registration page.
- Fill out the Application Form: Complete the online application form with accurate and relevant details about yourself and your business.
- Submit Required Documents: You will be required to provide certain documents, such as a valid ID card and your business registration certificate, to verify your identity and legitimacy as a business entity.
- Select the POS Machine Type: Choose the type of PalmPay POS machine that suits your business needs and budget - either the PalmPay Android POS or the PalmPay Button POS.
- Pay for the POS Machine: Make the payment for the selected POS machine. For the PalmPay Android POS, the cost is ₦41,500, while the PalmPay Button POS costs ₦21,500.
- Pay the Caution Fee: In addition to the POS machine cost, you will need to pay a one-time caution fee. It's ₦20,000 for the PalmPay Android POS and ₦30,000 for the PalmPay Button POS. This fee is refundable if the POS machine is returned in good condition within 15 days of purchase.
- Wait for Approval: After submitting your application and making the necessary payments, wait for PalmPay to review and approve your application.
- Receive the POS Machine: Upon approval, you will receive your chosen PalmPay POS machine. If you selected the PalmPay Android POS, you will get a device with a built-in printer and touchscreen display, while the PalmPay Button POS is a more compact and portable option.
- Start Accepting Payments: With your PalmPay POS machine in hand, you can start accepting payments from customers. The POS machine supports various payment methods, including EMV chip reading and contactless payments, making transactions secure and convenient for both merchants and customers.
By following these steps, you can easily acquire a PalmPay POS machine and leverage its features to enhance your business's payment processing capabilities.
FAQS
How do I get a POS machine from PalmPay?
To obtain a POS machine from PalmPay, follow these steps:
- Visit the PalmPay website or download the PalmPay mobile app.
- Click on the option to "Become an Agent" and complete the agent registration process.
- Fill out the online application form, providing accurate details about yourself and your business.
- Submit the required documents, such as a valid ID card and business registration certificate, for verification.
- Choose the type of POS machine that suits your needs: PalmPay Android POS or PalmPay Button POS.
- Make the payment for the selected POS machine: ₦41,500 for PalmPay Android POS and ₦21,500 for PalmPay Button POS.
- Pay the one-time caution fee of ₦20,000 (for PalmPay Android POS) or ₦30,000 (for PalmPay Button POS). This fee is refundable if you return the POS machine in good condition within 15 days of purchase.
- Wait for approval from PalmPay, and upon approval, you will receive your chosen POS machine to start accepting payments from customers.
How do I order a POS machine?
The process of ordering a POS machine from PalmPay is straightforward. Simply visit their website or app, complete the agent registration, provide the necessary information, choose the POS machine type, make the required payments, and await approval.
Does PalmPay have a daily target?
No, PalmPay does not impose any daily target on its POS agents. This means agents are not required to meet a specific minimum transaction volume within a set period to continue using the POS machine.
Can I get a POS machine for free?
No, PalmPay POS machines are not provided for free. There is a cost associated with acquiring the POS machine, either ₦41,500 for PalmPay Android POS or ₦21,500 for PalmPay Button POS.
Which bank gives free POS machines?
Specific banks in Nigeria may offer free POS machines to their merchants as part of their business relationship and service packages. However, the availability of free POS machines may vary, and it's essential to check directly with individual banks to confirm their current offerings and any associated terms or conditions.
Conclusion
In conclusion, the PalmPay POS system presents an enticing array of features tailored to meet the diverse needs of businesses, offering a seamless payment solution for merchants and customers alike. With a choice between the PalmPay Android POS, priced at ₦41,500, and the more portable PalmPay Button POS, priced at ₦21,500, businesses can select the option that best suits their operational requirements and budget.
The absence of a daily target for PalmPay POS agents provides a sense of flexibility and freedom, enabling merchants to focus on delivering top-notch service without the pressure of meeting specific transaction quotas. This user-centric approach empowers agents to build strong customer relationships and drive business growth with ease.