Moniepoint POS Machine: How to Apply, Price & Charges in 2024

Moniepoint POS Machine: How much is Moniepoint POS machine, what are Moniepoint POS charges, and how to get Moniepoint POS? Seeking answers to that? Then this post is for you.

Recently, POS agents have been making lots of money as it is now the fastest way to access cash in Nigeria. Also, cashless payments are becoming the next big thing for businesses and customers alike, as the FGN is about to roll out the cashless policy.

All these have continuously increased the demand for POS. Due to that, more and more people want to become agents, as well as businesses want to get paid easily. That’s where MoniePoint comes in. 

Moniepoint POS is a popular POS solution in Nigeria that offers a range of features and benefits to business owners. Its services enable businesses to accept cashless payments from customers quickly and easily, and also make agents lots of money.

In this post, we’ll explore everything about Moniepoint POS machine and how it works. Also, you’ll get to know the Moniepoint POS machine price in Nigeria, how to apply for Moniepoint POS, as well as the additional services offered by Moniepoint.

Without wasting time, let’s dive straight in!

What is Moniepoint POS?

Moniepoint POS is a portable device that allows businesses to accept payments from customers using debit cards, credit cards, and other electronic payment methods.

It is a reliable and secure POS solution that provides fast and efficient transactions, making it an essential tool for businesses of all sizes.

Check Out: How to Get Opay POS in Nigeria

Why Choose Moniepoint POS Machine?

Some of the benefits of using Moniepoint POS include:

• Acceptance of multiple payment methods
• Instant transaction confirmation
• Real-time reporting and analysis
• Secure and reliable transactions

Now that you’ve known why lots of people choose Money Point POS, let’s see how much is Moniepoint POS machine.

Related: How to Get PalmPay POS Machine in Nigeria

Moniepoint POS Machine Price

Applying for a Moniepoint POS is totally free, as no fee is charged for the registration. However, the price of a Moniepoint POS machine in Nigeria is N21,500.

This is a one-time payment, which means you don’t have to any other additional fee like a maintenance fee or so.

With that out of the way, let’s get started with the Moniepoint POS agent registration process.

Read Also: How to Become GTB POS Agent with No Money

Moniepoint POS Machine Requirements

To be eligible for the Money point POS machine application, you must meet some requirements. These include:

1. An active Moniepoint account
2. A valid bank account
3. A bank verification number (BVN)
4. Valid means of identification such as a Voter’s Card, National ID Card, Drivers License, or International Passport
5. A recent utility bill
6. CAC document (Optional)

Once you have all these ready, you can now proceed to apply for a Moniepoint POS machine.

Read Also: How to Start a Profitable POS Business in Nigeria

How to Get Moniepoint POS Machine: A Simple Step-By-Step Guide

Here’s a step-by-step guide to applying for a Moniepoint POS machine:

Step #1: Open a Moniepoint Account

First things first, head over to Moniepoint’s website and open an account. If you’ve already got one, great! Just log in.

Step #2: Login and Apply

Once you’re on their dashboard, keep an eye out for the “Get Your POS” button. Found it? Click on it.

Step #3: Fill Out the POS Application Form

There will be a POS registration form popping up. Ensure you provide the right details – it’s important for the process.

Step #4: Choose a POS Merchant Service (If Any)

If you work with any POS merchant services, select them from the options provided.

Step #5: Upload Those Documents

Moniepoint might require certain documents for verification. Get them ready and upload as instructed.

Step #6: Submit

Once everything looks good, hit that submit button. Your application will then be sent for review.

Step #7: Wait for Approval

Once all this is done, the Moniepoint team will review your application. This usually takes anything from 24 to 48 hours. Keep in mind that they may approve or decline your request.

Step #8: Get the POS Terminal

If it is approved, you will be linked to an aggregator from which you can continue the application process in person (offline). However, you can reapply if your request was declined.

You can also apply for Moniepoint POS machine directly through an aggregator without performing any of the processes online. All you need to do is to find a Moniepoint aggregator close to you, then provide them with all the requirements, and your request will be handled from start to end.

That’s all on how to get Moniepoint POS in Nigeria. Now, let’s see the charges of Moniepoint POS when you become an agent.

Check Out: How to Apply for Kudi POS

Moniepoint POS Charges

Unlike other POS providers, Moniepoint POS charges are calculated in a different way, and this is because it offers a low charge on transactions.

Moniepoint POS charges are based on the number of transactions carried out by the merchant. This means that their charges are fixed for each transaction, although it ranges from N6.2 to N20.

Below is a list of some Moniepoint commission and also POS charges for moniepoint:

• For withdrawals of up to N20,000 Moniepoint charges only 0.5% fee.
• For transactions above N20,000 Moniepoint charges a flat rate of N100.
• Moniepoint charges a flat rate of N20 for money transfers.
• DSTV Subscription commission is 2%
• GOTv subscription commission is 2%
• StarTimes commission is 2%
• MTN Data Top Up commission is 3%
• Glo data Top-Up commission is 4%
• 9Mobile Data Top-Up commission is 4.5%
• Airtel Data Top-up commission is 4%
• PHCN token commission is 2%

Related: How to Become Baxi POS Agent

Moniepoint POS Machine – FAQs

Is Moniepoint POS machine free?

No, Moniepoint POS machine is not free. The price of Monie Point POS is N21,500.

Does Moniepoint pay their agent monthly?

Moniepoint agents make money daily from every transaction that they perform, and the money is automatically credited into their Moniepoint account.

How much is Moniepoint daily target?

Moniepoint POS daily target is N70,000 worth of transactions. Failure to meet this target in at least three days may lead to the seizure of your POS terminal by Moniepoint.

How much is Moniepoint Android POS?

As of the time of writing this post, Moniepoint doesn’t have an android POS.

What is Moniepoint POS withdrawal charges?

Moniepoint POS withdrawal charges for transactions below N20,000 is 0.5%, while they charge a flat rate of N100 for withdrawals above N20,000.

How do I become a Moniepoint POS agent?

To become a Moniepoint POS agent, you need to sign up on the Moniepoint website and provide the required documentation. Once your application is approved, you will receive training and support from Moniepoint through an aggregator that will be assigned to you.

How do I use a Moniepoint POS machine?

To use a Moniepoint POS machine, you need to connect it to the internet and follow the instructions on the screen. The device accepts payments through ATM cards and mobile payments.

What types of payments does a Moniepoint POS machine accept?

Moniepoint POS machine accepts payments through debit/credit cards and mobile payments.

Is a Moniepoint POS machine secure?

Yes, Moniepoint POS machine is secure as it uses advanced encryption technology to protect customer data and transactions.

Conclusion

Moniepoint provides a range of digital financial services that make cashless payments and financial transactions easy, secure, and accessible. Moniepoint POS machines are an affordable and convenient option for businesses looking to accept cashless payments.

Becoming a Moniepoint agent offers an additional source of income and access to Moniepoint’s suite of digital financial services.

With this post on how to become a Moniepoint agent, I believe you’ve known exactly how to get Moniepoint POS machine, and also the price of POS machine, as well as the Moniepoint POS charges.

Cheers!