The cost of starting a POS business in Nigeria and the cheapest POS machine in Nigeria are things that a large number of people are curious about.
The reason could be due to the widespread ignorance about the charges for POS businesses in Nigeria.
Read the article on how to start a POS business in Nigeria from beginning to end to clear up any curiosity about starting a POS business in Nigeria.
Starting a POS business is profitable in Nigeria. If you can work harder you will earn more accordingly.
POS business in Nigeria, or the Point of Sale business in Nigeria, is promising with many future opportunities available.
Nigerian merchants are currently adopting POS systems at a faster rate than ever before due to the advancement in technology in the use of cards and virtual payments.
It is no surprise that Nigeria is one of the key markets for innovative electronic payment system providers since it has a population of nearly 186 million people.
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POS Machine
POS Machine business charges in Nigeria are much cheaper than the traditional POS Machine. They are unique because of their multifunctional capabilities and their cost-effectiveness.
The value for money that comes with these devices is one feature that makes them much more popular than the regular ones. These machines can serve as the cheapest POS charges in Nigeria looking at their price tag.
This has led to a wider acceptance of these devices across the country thus, it is quite easy to acquire them even in small towns.
If you have a call center, mobile company, or an online store, then you can get a POS terminal to boost your sales, save time and make all your operations easy.
Cheapest POS Machine Charges in Nigeria
1. Bankly POS
Withdrawal: 0.3% charges on withdrawals
Transfer: ₦35 flat rate.
2. Moniepoint POS
Withdrawal: 0.3% charges on withdrawals
Transfer: ₦20 flat rate. For transactions above ₦20,000.
3. Kolomoni POS
Withdrawal: 0.5% charges on withdrawals
Transfer: ₦30 flat rate. ₦100 For transfer above ₦20,000.
4. Baxi box POS
0.55% from N1000 – ₦20,000.
N100 flat rate from ₦20,001 – ₦100,000
5. OPay POS
Withdrawal: 0.6% charges on withdrawals
Transfer: ₦120 For transfer above ₦20,000.
6. Kudi POS
Withdrawal: 0.6% charges on withdrawals
Transfer: ₦150 For transfer above ₦50,000.
7. First Bank POS
0.75% per transaction.
8. Zenith Bank POS
0.75% per transaction
9. GTBank POS
0.75% POS service charge
Cheapest POS Machine Price in Nigeria
1. Firstmonie POS (By the First bank)
FREE
2. Zenith Bank POS
FREE
3. Access Close (By Access bank)
FREE
4. Surepadi POS (By Polaris bank)
FREE
5. UBA POS
FREE
6. Wema Bank POS
FREE
7. GTBank POS
FREE
8. Stanbic Bank POS
FREE
9. Heritage Bank POS
FREE
10. Union Bank POS
FREE
11. Opay
₦8,500
12. Accelerex POS
₦10,000
13. Kudi POS
₦10,000
14. Flutterwave POS
₦10,000
15. Surebanka POS
₦10,000
16. Playcentre
₦14,000
17. Palmpay
₦20,000
18. Baxi android
₦30,000
19. Opay Traditional
₦35,000
POS Machine Charges For Merchants
Since you have know how to get Cheapest POS Machine in Nigeria, you should know how much you will charge your customer.
So here are the most common agent POS Machine charges in Nigeria. POS service charge depends on your location and terminal ( or let’s’s say your POS Business).
| Amount to Withdraw/Transfer (₦) | Charges (₦) |
| 1,000 to 5,000 | You can charge 100 Naira to 150 Naira. Or 20naira per thousand depends on your terminal |
| 6,000 to 9,000 | You can charge 150naira to 200naira. Or 20naira per thousand |
| 10,000 to 15,000 | You can charge 200naira to 300naira. Or 20naira per thousand |
| 16,000 to 20,000 | You can charge 250naira to 400naira. Or 20naira per thousand |
ALSO READ: 6 Best Site For Printing Recharge Card Online In Nigeria 2022
CONCLUSION
With the list of the cheapest POS charges in Nigeria in front of you, you can choose which one of the vendors to apply with.
The above list was compiled based on the prices information provided by each POS vendor/platform.
I hope you find the information on the cheapest POS charges in Nigeria helpful.