How to Get Moniepoint POS machine and Become an Agent

Last Updated on July 1, 2024 by admin

How to get Moniepoint POS Machine for your business also how to become MoniePoint POS Agent – You will understand the process and steps to apply and get  Moniepoint POS Machine and also how to open Moniepoint Business Account to enable you become an agent  from your home, office any any location all you need is your smart phone or  computer and internet .

If you are planning to start a POS Business here in Nigeria, consider using Moniepoint POS Machine because charges are at flat rate 0.5% of the transaction amount for withdrawals between N1 to N20,000 and There is no charge placed on bill payments.

As the  fastest-growing and most reliable mobile money platform in Nigeria, it is designed to be an all-in-one business solution that provides last-mile banking service such as cash transfers and withdrawals, Airtime purchases, and more financial service .

Moniepoint POS terminals are equipped with advanced security features, such as encrypted payment processing and the ability to flag suspicious transactions. This can provide peace of mind for both your business and your customers.

It gives customers the ability to pay with their cards or make a transfer in the event they don’t have enough cash. That is while  business owners want to become agents, as well as businesses want to get paid easily.

Reasons why you should use moniepoint POS

There are several compelling reasons to choose Moniepoint POS for your business in Nigeria:

1. Reliability and Uptime:

Moniepoint is renowned for having one of the most stable networks in Nigeria, ensuring that your POS transactions are processed quickly and reliably, even during peak hours or network fluctuations. This minimizes downtime and ensures a smooth payment experience for your customers.

2. Secure Payments:

Moniepoint POS terminals are equipped with advanced security features like encrypted payment processing and the ability to flag suspicious transactions. This protects both your business and your customers from fraud and unauthorized access.

3. User-Friendly Interface:

The Moniepoint POS terminals are designed with a user-friendly interface, making it easy for you and your staff to process transactions quickly and efficiently, even if you’re not tech-savvy.

4. Instant Settlement:

With Moniepoint POS, you receive payments instantly into your account with no delays. This improves your cash flow and enables you to manage your finances more effectively.

5. Wide Range of Payment Options:

Moniepoint POS accepts various forms of electronic payments, including:

• Debit and credit cards (local and international)
• Bank transfers
• QR code payments

This flexibility allows you to cater to a wider range of customers and increase your sales potential.

6. Value-Added Services:

Moniepoint offers additional services beyond payment processing, such as:

• Airtime and data top-up
• Bill payments (utilities, cable TV, etc.)
• Cash withdrawals
• Money transfers

These services can attract more customers to your business and increase your revenue streams.

7. Excellent Customer Support:

Moniepoint provides excellent customer support to its users, ensuring that any issues or queries are resolved promptly and efficiently.

8. Business Management Tools:

The Moniepoint platform offers business management tools to help you track your sales, monitor transactions in real-time, and generate reports for better insights into your business performance.

9. Affordable and Transparent Pricing:

Moniepoint POS is known for its affordable pricing with no hidden charges or setup fees. They offer transparent pricing models, so you know exactly what you’re paying for.

Requirement for a Moniepoint POS Machine

To apply for a Moniepoint POS machine, you’ll need to meet the following requirements:

Personal Requirements:

• Account Number: An active bank account with any Nigerian bank.
• BVN (Bank Verification Number): A valid BVN linked to your bank account.
• Valid Identification: A government-issued ID such as a driver’s license, international passport, voter’s card, or National ID card.
• Utility Bill: A recent utility bill (electricity, water, etc.) showing your home address.

Business Requirements:

• Business Registration: A registered business or proof of business registration (e.g., CAC certificate).
• Business Location: A physical business address where the POS terminal will be used.

Additional Requirements:

• Completed Application: You’ll need to complete the Moniepoint POS application form, either online or through the Moniepoint Business app.
• Caution Fee: A refundable caution fee may be required, depending on the specific POS terminal model.

Requirements to open a business account on Moniepoint

• Before you can open moniepoint  Business Account you must have A functional phone number
• An email address you can easily access
• Your BVN
• A valid Government ID, e.g. International Passport, Driver’s License, and Permanent Voter’s Card. National Identification Number (NIN), Residence/Work Permit (For Foreigners)
• A utility bill to verify your address

How to Open  Moniepoint business account

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

1. Visit Moniepoint Online platform to access the account opening form.
2. Input your email address and phone number and click “Next.”
3. You’ll 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. This is the name your customers would see, so remember to choose something memorable.
6. Select a password for your business. Remember not to use any personal information like your name or birthday.
7. Provide your BVN and KYC details and start face & ID verification.
8. Finally, choose a transaction PIN with any four numbers of your choice. And just like that, you have a Moniepoint Business account that gives you the power to accept payments, request loans, and so much more from anywhere in Nigeria.

How to get Moniepoint POS Machine for your business

1.To get start with application for Moniepoint POS Machine kindly, login to your business account and select the business you want a POS terminal for.
2. On your chosen business’s dashboard, click the POS menu under “Channels”
3. Click on the POS menu and then click on Request New POS.
4.The Moniepoint terminal costs N21,500. N10,000 is the caution fee, N10,000 is the logistics fee, and N1500 is the insurance fee for a whole year.
5.Click on the MP35P to move on to the next step.

6.Fill in the address where you would like your Moniepoint POS delivered.
7.Once done, fund your Business Account with a minimum of ₦21,500 for the POS Terminal and complete the request by making a payment.
8.You will be instantly assigned a dedicated Relationship Manager from Moniepoint. The Relationship Manager will deliver the POS terminal to you within 48 hours, train you on how to use the terminal and answer any questions you may have.

Please note: After you make a request, you can get the Moniepoint POS terminal within 48hrs and to get the Moniepoint POS, you pay N21,500.

Moniepoint POS Charges and Commission Structure

• Moniepoint charges a flat rate 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 a BOs cashback of up to #20 on withdrawals and #5 on transfers.
• For airtime, they charge 2% for all networks.
• There is no charge placed on bill payments.

Frequently ask questions

• Q: How do I apply for a Moniepoint POS terminal?
  • A: You can apply online through the Moniepoint website or via the Moniepoint Business app.
• Q: What documents do I need to provide for the application?
  • A: You’ll need a valid ID, proof of business registration, and a recent utility bill.
• Q: Is there a fee for applying for a POS terminal?
  • A: There is no application fee, but a refundable caution fee may be required.
• Q: How long does it take to receive the POS terminal after approval?
  • A: The delivery time can vary depending on your location, but it usually takes a few days to a week.

Usage and Transactions:

• Q: What types of payments can I accept with the Moniepoint POS?
  • A: You can accept debit cards, credit cards, bank transfers, and QR code payments.
• Q: Are there any transaction fees?
  • A: Yes, Moniepoint charges a small percentage per transaction. ranging from N100 to N1000
• Q: How quickly are funds settled into my account?
  • A: Moniepoint offers instant settlement, meaning the funds are credited to your account immediately after a successful transaction.
• Q: What should I do if there’s a transaction error?
  • A: You can try restarting the POS terminal or check your internet connection. If the problem persists, contact Moniepoint customer support.

Maintenance and Support:

• Q: How do I get help if I have a problem with my POS terminal?
  • A: You can contact Moniepoint customer support through their app, email or phone number · info@moniepoint.com · 0201 888 9990.
• Q: Do I need to update the POS software?
  • A: Moniepoint will automatically update the software remotely, so you don’t need to worry about manual updates.
• Q: What happens if my POS terminal is lost or stolen?
  • A: Immediately contact Moniepoint customer support to report the loss or theft and block the terminal.

Other:

• Q: Can I use the Moniepoint POS terminal for other services besides payments?
  • A: Yes, you can use it for airtime and data top-up, bill payments, cash withdrawals, and money transfers.
• Q: Does Moniepoint offer any business management tools?
  • A: Yes, the Moniepoint platform provides tools for tracking sales, monitoring transactions, and generating reports.