Obtaining a Moniepoint POS Terminal in Nigeria

A Comprehensive Guide to Obtaining a Moniepoint POS Terminal in 2023

If you’re a business owner looking to embrace a more modern and secure payment solution, acquiring a Moniepoint POS terminal is often considered the first step. For those wondering about the process of obtaining a Moniepoint POS machine in Nigeria, you’ve come to the right place.

A POS terminal serves as a device that enables businesses to securely process in-person transactions, including credit and debit card payments. By implementing a POS terminal, you can enhance the customer experience by providing a quick and convenient payment method for their purchases. Additionally, one of the significant advantages of using a POS terminal is its ability to mitigate the risk of fraud.

Related Post: How to Qualify and apply for an Opay POS Machine in Nigeria

Moniepoint POS terminals are equipped with advanced security features, such as encrypted payment processing and the capability to identify suspicious transactions. These features not only offer peace of mind for your business but also instill confidence in your customers. Furthermore, apart from streamlining the payment process and ensuring security, Moniepoint POS terminals provide proof of payment, simplifying bookkeeping for your business.

By integrating a Moniepoint POS terminal into your business operations, you grant your customers the flexibility to pay using their cards or make transfers, even if they don’t have sufficient cash on hand. With its reputation for maintaining the most stable network in Nigeria, Moniepoint POS terminals are the preferred choice for 90% of business owners seeking a reliable payment solution.

The benefits of using a Moniepoint POS are numerous, including:

1. Secure payments that safeguard both you and your customers.
2. User-friendly operating system, ensuring ease of use.
3. Instant dispute resolution whenever required.
4. Compatibility with all types of cards.
5. Long-lasting battery, allowing for uninterrupted transactions.
6. Acceptance of card payments as well as transfers.

Now, let’s delve into the requirements for obtaining a Moniepoint POS machine. Firstly, you need to have a Moniepoint business account, which you can open by following the instructions provided here.

Once you have successfully set up a Moniepoint Business account, it’s time to learn how to acquire a POS terminal. With a Moniepoint POS, you can effortlessly accept both transfer payments and card transactions for your business, eliminating unnecessary stress and complications.

Important rules you need to be aware of

Before you proceed with the process, there are three important rules you need to be aware of:

1. When acquiring a Moniepoint POS, you do not become the owner of the terminal. Moniepoint provides a leasing service, allowing you to avoid heavy capital investment in purchasing a terminal for your business.
2. Moniepoint encourages business growth and expects you to process a minimum of N80,000 in transactions daily. Failure to meet this target may result in the reassignment of your POS terminal.
3. Proper handling of the Moniepoint POS is essential. If the terminal remains in excellent condition upon retrieval, Moniepoint rewards you with N10,000.

Moving on to the charges and commission structure associated with Moniepoint POS terminals, the company applies a flat rate of 0.5% on transaction amounts ranging from N1 to N20,000 for withdrawals. For transactions exceeding N20,000, a flat rate fee of N100 is applicable. Furthermore, transfers incur a flat rate charge of N20. Moniepoint offers cashback rewards to Business Owners, providing up to N20 for withdrawals and N5 for transfers. Notably, no charges are imposed on bill payments, making Moniepoint an even more attractive choice for your business.

The process of obtaining a Moniepoint POS machine

Now that you are familiar with the rules, charges, and commissions, let’s guide you through the process of obtaining a Moniepoint POS machine for your business:

1. Log in to your Moniepoint business account and select the
2. business for which you require a POS terminal. 2. On the dashboard of your chosen business, navigate to the “Channels” section and click on the POS menu.
3. Within the POS menu, locate and select the option for “Request New POS.”
4. Moniepoint’s signature POS terminal is the MP35P Smart POS terminal, known for its user-friendly interface and touch screen functionality.
5. The total cost for the Moniepoint terminal is N21,500. This includes a caution fee of N10,000, logistics fee of N10,000, and an insurance fee of N1,500 for one year of coverage.
6. Click on the MP35P terminal option to proceed with your request.
7. Provide the delivery address where you would like the Moniepoint POS terminal to be sent.
8. Once the address is filled in, ensure that your Business Account is funded with a minimum of ₦21,500, covering the cost of the POS terminal.
9. Complete the request by making the necessary payment.
10. Following your request, Moniepoint will assign a dedicated Relationship Manager to assist you throughout the process. Click on “Select RM” to access further details about your assigned manager.
11. Your Relationship Manager will deliver the POS terminal to your specified address within 48 hours. They will also provide comprehensive training on how to utilize the terminal and address any queries or concerns you may have.

In conclusion, obtaining a Moniepoint POS terminal is a crucial step towards modernizing and securing your business’s payment handling. With advanced security features, ease of use, and compatibility with various cards and transfers, Moniepoint POS terminals offer a reliable and efficient solution. By following the outlined process and adhering to the rules and guidelines provided, you can equip your business with a Moniepoint POS terminal and enjoy the benefits it brings to both you and your customers.

FAQs (Frequently Asked Questions) about Moniepoint POS Terminals:

Please note that the FAQs provided are based on general information and it’s always recommended to refer to the official Moniepoint website or contact their support team for the most up-to-date and accurate information regarding their POS terminals and services