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POS Machine Price in Nigeria, Types, Features, Where to buy

POS Machine Price in Nigeria – If you’re thinking about going into the POS business, then you need to read through this article. This post contains essential information needed to start a POS business in Nigeria. As you know, there are several types of POS machines in Nigeria from different financial institutions. Hence, before starting a POS business, you need to know the price of a POS machine, the different types of POS machines available, their different features, and how to get one.Information Guide Nigeria

In this article, you will find the current price of POS machine in Nigeria, and procedures on how to get a POS machine. Continue reading to see full details.

Read Also: How to Get POS Machine for your Small Business

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About POS Business in Nigeria

A POS (point of sale) machine was created to make businesses, merchants and retailers collect payment for goods or services without the need for cash. But since then POS machines aka terminals are now being used by various financial institutions (Fintech) and banks in Nigeria to improve financial inclusion by bringing financial services to the unbanked and underbanked population in Nigeria.POS Machine Price in Nigeria, Types, Features, Where to buy

So, in essence, you don’t need to visit a bank to conduct most financial transactions. You can do these transactions at a POS centre.20 Best Black Crop Tops in Nigeria and their Prices

As a result, people who previously did not have access to banks or banking services can now do so as long as there is a POS business nearby. Especially for people living in remote and rural areas. This is why the POS industry is growing in popularity in underdeveloped and developing countries.20 Best Cuff Links and their Prices in Nigeria

Read Also: Top 30 Offline Businesses You Can Start with 100K in Nigeria

Types of POS machine in Nigeria

Although mobile POS machines are the most common POS machines in Nigeria, there are two other versions that are larger and better. They are, however, more expensive and are only found in high-end supermarkets. The following POS machines are available:

  • Countertop POS machine
  • Retail POS machine
  • Mobile POS machine

How to Get a POS Machine for Your Business

Getting a POS machine in Nigeria will require you to visit your Banking institution or Fintech company. In Nigerian physical or electronic stores, POS machines are scarce to find. Different banks and financial institutions have different procedures and forms that you must complete before a POS machine will be issued to you. As a result, there is no set procedure for obtaining a POS machine.JAMB Form

However, in this post, we will be showing you how to get a POS machine from popular financial institutions.

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Zenith Bank

You must have held your current account for at least six months prior to applying for a zenith bank POS machine. They would present you with a form to fill out if you expressed interest. This form includes the following information:WAEC Result

  1. Account number for the business owner
  2. Your company’s email account
  3. Telephone number
  4. Additional information
  5. Processing takes approximately 72 hours, and you must email the completed form to [email protected]. The final step is to sign a POS agreement document with the bank, and your machine will be ready for pickup.NPower Recruitment

GTBank

GTBank current account holders have exclusive access to POS machines. They also require that the account be open for at least six months and that you fill out a request form. This form can be emailed to [email protected] or handed in to a supervisor. Upon collection, you must sign a POS agreement form.JAMB Result

Read Also: 25 Hot Business Ideas to do in Nigeria 

Polaris Bank

Polaris Bank appears to be the most lenient among Nigerian banks, allowing both savings and current accounts to own a POS machine. Simply apply for the machine by completing the required form and waiting 14 days for it to be ready. Visit the Polaris Bank website to fill the online form, or head to the closest Polaris bank branch near you to complete the form.

First Bank

To get a POS machine from First Bank, simply go to the nearest bank branch and complete the POS machine application form. The machine would be ready a week after a successful application, and it would be completely free.

Read Also: 10 Benefits Of Using A White Paper Design For Your Business Review

Benefits of Using a POS Machine

The following are some of the benefits of owning a POS machine:

  1. Increased transaction efficiency would make your business run more smoothly and efficiently.
  2. It is simple to use, with transactions completed in 3 to 4 steps.
  3. A POS machine expands your payment options by allowing you to accept payments other than cash.
  4. Because of the high level of accuracy, there is less room for error when you’re using a POS machine.
  5. A POS machine simplifies inventory management by eliminating the need to manually track each transaction. Everything is at the touch of a button.
  6. Because everything is electronic, using a POS machine eliminates the possibility of employee infidelity.
  7. Every transaction ends with an automatic detailed receipt.
  8. It allows for faster payment services.

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Victor Nnaji

Victor is a Content Developer at InfoGuideNIgeria.com. InfoGuide Nigeria is a team of Resource Persons and Consultants led by Ifiokobong Ibanga. Page maintained by Ifiokobong Ibanga. If you need a personal assistance on this topic, kindly contact us.

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