Am sure you are here because you Google “ how much is pos machine” and that’s what we would be looking at today.
The spread of technology in Nigeria has made life easier for a lot of people. With the Point of Sale (POS) machine, it is now easy for people to pay for things and move money.
The POS machine is a device that lets businesses take payments from customers using debit and credit cards.
This technology has changed the way people pay for things in Nigeria, making it easier for them to do business without having to carry around cash.
Starting a POS business in Nigeria can be profitable because more and more people are using this technology to pay for things.
In this post, we will discuss how much a POS machine costs and how to start a POS business in Nigeria.
How much is a POS machine?
The cost of a POS machine varies depending on the brand and model. Some of the popular POS machine brands in Nigeria include Moniepoint, OPay, Paga, Ecobank Xpress Point, PalmPay, Quickteller Paypoint, Firstmonie, and Access Closa.
Moniepoint, for example, offers a range of POS machines that cost between ₦35,000 to ₦50,000 depending on the features. Their basic POS machine costs ₦35,000, while their premium POS machine costs ₦50,000.
OPay offers a similar range of POS machines, with prices ranging from ₦35,000 to ₦50,000. Their basic POS machine costs ₦35,000, while their premium POS machine costs ₦50,000.
Paga offers a basic POS machine that costs ₦40,000, while their advanced POS machine costs ₦50,000.
Ecobank Xpress Point offers a range of POS machines with prices ranging from ₦50,000 to ₦150,000. Their basic POS machine costs ₦50,000, while their premium POS machine costs ₦150,000.
PalmPay offers a range of POS machines with prices ranging from ₦40,000 to ₦50,000. Their basic POS machine costs ₦40,000, while their premium POS machine costs ₦50,000.
Quickteller Paypoint offers a basic POS machine that costs ₦45,000, while their advanced POS machine costs ₦50,000.
Firstmonie offers a range of POS machines with prices ranging from ₦40,000 to ₦50,000. Their basic POS machine costs ₦40,000, while their premium POS machine costs ₦50,000.
Access Closa offers a basic POS machine that costs ₦40,000, while their advanced POS machine costs ₦50,000.
It is important to note that these prices are subject to change, and some brands may offer discounts or promotions from time to time.
How to Start a POS Business in Nigeria
If you are interested in starting a POS business in Nigeria, here are some steps you can follow:
Register Your Business
You are required to register your business with the Corporate Affairs Commission (CAC) in Nigeria before you can begin operations as a POS provider in that country.
You will then be granted the legal authority necessary to run a business in Nigeria as a result of this.
Choose a POS Provider
Once you have registered your business, you need to choose a POS provider.
As mentioned earlier, there are many POS providers in Nigeria, including Moniepoint, OPay, Paga, Ecobank Xpress Point, PalmPay, Quickteller Paypoint, Firstmonie, and Access Closa.
Consider factors such as the cost of the POS machines, the quality of their customer service, and the ease of use of their technology when choosing a POS provider.
Purchase a POS Machine
After selecting a POS provider, the next step is to buy a POS machine for your business. Your choice of provider and model for the point-of-sale machine will determine the total cost of purchasing the device.
You may be able to purchase a point-of-sale system from certain providers without having to pay the total price all at once if they offer financing options.
Set Up Your Business Location
Once you have purchased a POS machine, you need to set up your business location. Choose a location that is easily accessible to customers and has a high foot traffic.
You may also need to rent a space, purchase furniture and equipment, and obtain necessary permits and licenses.
Advertise Your Services
After setting up your business location, you need to advertise your services to potential customers.
Use social media platforms such as Facebook, Twitter, and Instagram to reach out to potential customers.
This is the most important step because without it there would be no sales.
You can also create flyers and brochures to distribute to people in your community.
Train Your Employees
If you want to hire people to help you run your POS business, you need to teach them how to use the POS machine and how to give great customer service.
Your employees should know a lot about your products and services and be able to answer any questions that customers may have.
Provide Excellent Customer Service
To make sure your POS business does well, you need to give great customer service.
Be quick to answer questions and complaints from customers, and always try to go above and beyond to make them happy.
Referrals from other people can be a powerful way to market your POS business.
In conclusion, starting a POS business in Nigeria can be profitable if you choose the right POS provider, buy a good POS machine, set up your business in a good spot, advertise your services, train your employees, and give great customer service.
The price of a POS machine depends on the brand and model, but there are a lot of options that aren’t too expensive.
By following the steps outlined in this post, you can start your own POS business and tap into the growing demand for cashless transactions in Nigeria.