Get Moniepoint POS: A Guide to Becoming an Agent

Learning how to obtain Moniepoint POS Machine for your business as well as becoming a Moniepoint POS Agent is a process that can be easily understood and executed. This guide will walk you through the necessary steps to apply and obtain a Moniepoint POS Machine, as well as open a Moniepoint Business Account to become an agent, regardless of your location. All you need is a smartphone or computer with an internet connection.

In Nigeria, if you are planning to start a POS business, it is highly recommended you use the Moniepoint POS Machine, as the charges are offered at a flat rate of 0.5% of the transaction amount for withdrawals between N1 to N20,000. Additionally, there are no charges for bill payments.

Moniepoint is the fastest-growing and most reliable mobile money platform in Nigeria, providing an all-in-one business solution that offers last-mile banking services such as cash transfers, withdrawals, airtime purchases, and multiple other financial services. The POS terminals are equipped with advanced security features, such as encrypted payment processing, and the ability to flag suspicious transactions, providing peace of mind for you and your customers.

The Moniepoint POS Machine provides customers the ability to pay using their cards or make a transfer in the event they don’t have enough cash. Businesses and individuals endure the process to become agents as well as receive payments easily.

Reasons you should use Moniepoint POS include:

• Secure payments that protect you and your customers
• Easy-to-use operating system
• Instant dispute resolution whenever you need it
• Compatible with all cards
• Long-lasting battery
• Accepts card and transfer payments
• POS terminal compatible with all cards

Requirements for a Moniepoint POS Machine

To obtain a Moniepoint POS Machine, a Moniepoint business account is required to accept both transfers and card payments for your business easily and without stress.

Requirements to open a business account on Moniepoint:

• A functional phone number is required before opening a Moniepoint business account
• An email address that is accessible
• Your bank verification number (BVN)
• A valid government ID such as an international passport, driver’s license, permanent voter’s card or national identification number (NIN) or residence/work permit (for foreigners)
• A utility bill for verifying your address

How to Open a Moniepoint Business Account:

You can open a Moniepoint business account online and become a POS agent in a few simple steps.

1. Visit the Moniepoint Online platform to access the account opening form.
2. Input your email address and phone number and click “Next.”
3. You will receive an OTP in a few seconds. Type it in to verify your phone number.
4. Input your BVN and date of birth.
5. Create a username, which is the name your customers would see, ensuring to choose something memorable.
6. Select a password for your business. Make sure not to use any personal information such as your name or birthday.
7. Provide your BVN and know your customer (KYC) details, and then commence face & ID verification.
8. Lastly, choose a transaction PIN with any four chosen numbers. After this, you can become a Moniepoint business account holder, enabling you to accept payments, request loans, and much more from anywhere in Nigeria.

How to obtain a Moniepoint POS Machine for your business:

1. To start the application for a Moniepoint POS Machine, log in to your business account and select the business you want a POS terminal for.
2. On the chosen business’s dashboard, click the POS menu under “Channels.”
3. Click on the POS menu and then on Request New POS.
4. The Moniepoint terminal costs N21,500, with N10,000 as the caution fee, N10,000 as the logistics fee, and N1,500 as insurance for one year’s coverage.
5. Click on the MP35P to the next step.
6. Fill out the address where you would like the Moniepoint POS delivered.
7. Once completed, fund your business account with at least ₦21,500 for the POS Terminal and finalize the request by making a payment.
8. A dedicated Relationship Manager from Moniepoint will be assigned to you instantly. The Relationship Manager will deliver the POS terminal within 48 hours, train you on how to use it, and answer any questions you may have.

Please note: after making your request, you can obtain the Moniepoint POS terminal within 48 hours by paying N21,500.

Moniepoint POS Charges and Commission Structure:

• Moniepoint charges a flat rate of 0.5% of the transaction amount for withdrawals between N1 to N20,000
• They charge a flat rate of N100 for transactions above N20,000
• They charge a flat rate of N20 for transfers
• Moniepoint gives BOs cashback of up to #20 on withdrawals and #5 on transfers.
• For airtime, they charge 2% for all networks.
• They do not charge for bill payments.