If you're a business owner or an aspiring entrepreneur looking to expand your payment options and boost your revenue, you've come to the right place. In this blog post, we'll take you through everything you need to know about obtaining a Moniepoint POS machine, the associated charges, pricing details, and how to set achievable daily targets to maximize your profits.
We all know cashless transactions have become the norm, and having a reliable and efficient point-of-sale (POS) system is crucial for any successful business. Moniepoint, one of Nigeria's leading payment solutions providers, offers an exceptional POS service that caters to businesses of all sizes, allowing them to accept card payments and facilitate seamless transactions for their customers.
Join us as we dig into the step-by-step process of acquiring your Moniepoint POS machine.
Moreover, we'll share valuable insights on setting daily sales targets that are not only achievable but also instrumental in enhancing your business's growth and profitability. Whether you run a retail store, a small business, or are a service provider, having a Moniepoint POS machine at your disposal can give you the competitive edge you need in today's competitive market.
How to get Moniepoint POS Machine
Getting a Moniepoint POS machine is a straightforward process. To acquire one for your business, follow these simple steps:
- Visit Moniepoint's Website: Start by visiting the official website of Moniepoint (www.moniepoint.com) to initiate the application process.
- Fill Out the Application Form: On the website, you will find an application form. Provide all the required information, including your business details, contact information, and any other necessary documentation.
- Wait for Approval: After submitting the application, Moniepoint will review your request. The approval process usually takes a short period, and you will be notified via email or phone once your application is approved.
- Provide the required documents, such as your ID card, business registration certificate, and proof of address.
- Pay the one-time activation fee of N21,500.
- Once your application is approved, you will be assigned a Moniepoint Relationship Manager who will deliver the POS terminal to you within 48 hours.
- Install and Activate the POS Machine: Upon receiving the machine, follow the provided instructions to install and activate it. Moniepoint's customer support team can assist you with any technical queries or difficulties during this process.
- Train Staff (If Required): If your employees are unfamiliar with operating a POS machine, consider providing them with basic training on how to use it for seamless transactions.
- Start Accepting Payments: Once the POS machine is installed and ready to use, you can immediately begin accepting payments from customers through various card options, including debit cards, credit cards, and mobile wallets.
Remember, Moniepoint's POS machines come with several additional features and functionalities that can help you manage your business more effectively. These include sales tracking, transaction reports, and customer insights.
Moniepoint POS Machine Charges
The moniepoint POS charges are as follows.
Withdrawals:
- 0.5% of the transaction amount for withdrawals between N1 and N20,000.
- N100 flat rate for transactions above N20,000.
Transfers:
- N20 flat rate for all transfers.
These charges offer a transparent and straightforward pricing structure for businesses of all sizes. The 0.5% charge for withdrawals between N1 and N20,000 ensures that smaller transactions remain cost-effective for businesses, while the flat rate for larger withdrawals and transfers simplifies the cost calculations.
Using the Moniepoint POS machine can be an efficient and affordable option for businesses to accept payments and manage their financial transactions.
Moniepoint POS Price
The price of a Moniepoint POS machine in Nigeria is N21,500. This includes a N10,000 caution fee, N10,000 logistics fee, and N1,500 insurance fee for 1 year.
You can purchase a Moniepoint POS machine by visiting their website or contacting their customer support. You will need to create a business account and fund it with N21,500. Once your account is funded, you will be able to request a POS machine.
Moniepoint POS machines are compatible with all major debit cards.
Moniepoint POS Daily Target
The Moniepoint POS daily target is N50,000 in withdrawal value. This means that you must process at least N50,000 worth of withdrawals per day in order to meet your target. If you do not meet your target, your POS machine may be deactivated.
The daily target is in place to ensure that Moniepoint POS agents are actively using their machines and generating revenue for both the agents and Moniepoint. If you are unable to meet your daily target, there are a few things you can do to improve your chances of success:
- Increase your marketing efforts to attract more customers.
- Offer discounts or promotions to encourage customers to use your POS machine.
- Partner with other businesses in your area to accept payments on their behalf.
If you are still having trouble meeting your daily target, you can contact Moniepoint customer support for assistance.
FAQS
How much is Moniepoint target a day?
The Moniepoint POS daily target is N50,000 in withdrawal value. This means that you must process at least N50,000 worth of withdrawals per day in order to meet your target. If you do not meet your target, your POS machine may be deactivated.
How much does Moniepoint POS charge per transaction?
Moniepoint POS charges the following per transaction:
- Withdrawals:
- 0.5% of the transaction amount for withdrawals between N1 and N20,000.
- N100 flat rate for transactions above N20,000.
- Transfers:
- N20 flat rate for all transfers.
What are the POS charges for Moniepoint in 2023?
The POS charges for Moniepoint in 2023 are the same as the charges listed above.
How much does POS agents charge per transaction?
POS agents can charge whatever they want per transaction, but the most common charge is 2% of the transaction amount.
How much can one make from POS daily?
The amount of money you can make from POS daily will vary depending on how many transactions you process and the amount of the transactions. However, if you meet your daily target of N50,000 in withdrawals, you can expect to make around N2,500 in commissions.
Here are some tips to increase your earnings from POS:
- Place your POS machine in a high-traffic area. The more people who see your POS machine, the more likely they are to use it.
- Offer discounts or promotions. This is a great way to attract new customers and encourage existing customers to use your POS machine more often.
- Partner with other businesses. If you partner with other businesses in your area, you can offer them a commission for every customer they refer to you.
- Stay up-to-date on the latest trends. Moniepoint is constantly adding new features and services, so it's important to stay up-to-date on the latest trends so you can offer your customers the best possible experience.
Conclusion
In conclusion, obtaining a Moniepoint POS machine is a straightforward process that begins with creating a business account and funding it with the required amount. The POS machine's price, set at N21,500, covers a N10,000 caution fee, N10,000 logistics fee, and N1,500 insurance fee for one year. Businesses can avail themselves of this convenient payment solution by visiting the Moniepoint website or contacting their customer support.
Regarding charges, Moniepoint imposes transparent fees for withdrawals and transfers. Withdrawals between N1 and N20,000 incur a 0.5% charge, while transactions above N20,000 are subject to a flat fee of N100. All transfers, on the other hand, are charged a flat fee of N20. These charges ensure businesses can efficiently process transactions while managing costs effectively.