How to get moniepoint POS: a complete guide 2024

Are you looking for a reliable and affordable POS system for your business? If so, you’ve come to the right place! In this blog post, we’ll walk you through everything you need to know about how to get a Moniepoint POS terminal, from choosing the right model to completing the application process.

Moniepoint is a leading provider of POS solutions in Nigeria, and their terminals are known for being user-friendly, feature-rich, and affordable. Whether you’re a small business owner just starting out or a larger enterprise with multiple locations, Moniepoint has a POS system that’s right for you.

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So, without further ado, let’s dive in!

About Moniepoint

Moniepoint POS

Moniepoint is more than just a payment platform. It’s a financial partner that helps businesses of all sizes grow and succeed. With Moniepoint, you can accept payments from all major credit and debit cards, as well as mobile wallets like Apple Pay and Google Pay. You can also use Moniepoint to send and receive money, manage your payroll, and track your expenses.

What is a Moniepoint POS terminal?

A Moniepoint POS terminal is a device that allows you to accept electronic payments from your customers. You can use a Moniepoint POS terminal to accept payments from credit cards, debit cards, and mobile wallets.

Why should you get a Moniepoint POS terminal?

There are many benefits to having a Moniepoint POS terminal at your business. Here are just a few:

  1. Increased sales: Accepting electronic payments can help you increase sales by making it easier for customers to pay for their purchases.
  2. Reduced fraud: Electronic payments are more secure than cash payments, which can help you reduce fraud at your business.
  3. Improved customer service: Accepting electronic payments can improve customer service by making it faster and easier for customers to checkout.

Why Do You Need a POS for Your Business?

1. Save time and money

A POS system can automate many of the manual tasks involved in running a business, such as inventory tracking, sales reporting, and payment processing. This frees up your time so you can focus on more important things, like growing your business.

2. Improve customer service

A POS system can help you provide your customers with a better shopping experience. With a POS system, you can offer faster checkout times, multiple payment options, and loyalty programs. You can also use a POS system to track customer purchase history and preferences, so you can provide more personalized service.

3. Increase sales

A POS system can help you increase sales in a number of ways. For example, you can use a POS system to track customer buying habits and identify trends. You can also use a POS system to upsell and cross-sell products, and to offer targeted promotions.

4. Gain valuable insights

A POS system can provide you with valuable insights about your business performance. With a POS system, you can track sales data, inventory levels, and customer behavior. You can use this information to make better business decisions, such as which products to stock, how to price your products, and how to market your business.

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5. Stay ahead of the competition

More and more businesses are using POS systems to streamline their operations and improve their bottom line. If you don’t have a POS system, you’re at a competitive disadvantage.

Benefits of a POS machine

POS systems can be a huge benefit for businesses of all sizes, but they’re especially important for small businesses. Here are just a few of the reasons why:

1. POS systems can help you save time and money.

A good POS system can automate a lot of the tasks that you would otherwise have to do manually, such as calculating taxes, tracking inventory, and generating reports. This can free up your time so that you can focus on other aspects of your business.

POS systems can also help you to save money by reducing errors and preventing theft. For example, a POS system can ensure that your customers are always charged the correct price for items, and it can also track employee sales to help you identify any potential problems.

2. POS systems can help you to improve customer service.

A POS system can help you to improve customer service in a number of ways. For example, it can allow you to process transactions quickly and efficiently, and it can also provide you with information about your customers’ purchase history so that you can offer them personalized recommendations.

POS systems can also help you to build customer loyalty by offering features such as loyalty programs and gift cards.

3. POS systems can help you to make better business decisions.

POS systems can provide you with valuable data about your sales, inventory, and customers. This data can help you to make better decisions about your business, such as what products to stock, how to price your products, and how to market your business.

For example, you can use POS data to identify your best-selling products, and then you can stock more of those products and promote them more heavily. You can also use POS data to identify your most loyal customers, and then you can target them with special offers and promotions.

What Are The Requirement for a Moniepoint POS Machine

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First, you’ll need a Moniepoint business account. You can open one online in just a few minutes. Once you have an account, you can request a POS machine.

To get a Moniepoint POS machine, you’ll also need to pay a one-time fee of ₦21,500. This fee covers the cost of the machine, as well as a ₦10,000 caution fee, a ₦10,000 logistics fee, and a ₦1,500 insurance fee for 1 year.

3 Rules to Know Before Getting a Moniepoint POS

Moniepoint is a popular point-of-sale (POS) system in Nigeria that allows businesses to accept payments from customers using a variety of methods, including cash, card, and mobile money. If you’re thinking about getting a Moniepoint POS for your business, here are three rules you need to know:

Rule 1: Choose the right Moniepoint POS for your business.

Moniepoint offers a variety of POS systems to choose from, so it’s important to select the one that’s right for your business. Consider the size of your business, the types of payments you accept, and your budget when making your decision.

Rule 2: Get trained on how to use your Moniepoint POS.

Once you’ve chosen a Moniepoint POS, it’s important to get trained on how to use it. Moniepoint offers free training to all its customers. You can also find helpful training videos on the Moniepoint website.

Rule 3: Register your Moniepoint POS with the Central Bank of Nigeria (CBN).

All Moniepoint POS systems must be registered with the CBN. This is a simple process that can be done online.

Moniepoint POS Charges and Commission Structure

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Moniepoint POS Charges

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Moniepoint charges a flat fee for each transaction, depending on the amount. For withdrawals, the fee is 0.65% of the transaction amount, up to a maximum of N200. For deposits and transfers, the fee is a flat N20.

Here’s a breakdown of the transaction charges:

Transaction amountCharge
Up to N1,540N10
N1,541 to N20,0000.65%
N20,001 to N49,999N130
N50,000 to N99,999N150
N100,000 to N500,000N200

Moniepoint POS Commission

In addition to transaction charges, Moniepoint also charges a commission on certain transactions. For example, you’ll pay a commission of 1% on airtime top-ups and 2% on bill payments.

Here’s a breakdown of the commission rates:

Transaction typeCommission rate
Airtime top-up1%
Bill payment2%

How to get a Moniepoint POS terminal

Getting a Moniepoint POS terminal is easy. Just follow these steps:

  1. Visit the Moniepoint website.
  2. Click on the “Get a POS” button.
  3. Fill out the application form.
  4. Submit your application.

Once you’ve submitted your application, a Moniepoint representative will contact you to schedule a delivery for your POS terminal.

What do you need to get a Moniepoint POS terminal?

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To get a Moniepoint POS terminal, you’ll need to provide the following information:

  • Your name
  • Your business name
  • Your business address
  • Your phone number
  • Your email address

You’ll also need to provide a copy of your government-issued ID.

How much does a Moniepoint POS terminal cost?

The cost of a Moniepoint POS terminal depends on the model you choose. However, most Moniepoint POS terminals cost around N21,500.

How to get Moniepoint POS Machine for your business

Getting a Moniepoint POS machine for your business is a great way to start accepting cashless payments. It’s also a great way to increase your sales and grow your business.

Here’s a step-by-step guide on how to get a Moniepoint POS machine for your business:

  1. Visit the Moniepoint website and click on the “Get a POS” button.
  2. Enter your business details and create an account.
  3. Select the Moniepoint POS machine that’s right for your business.
  4. Pay for the POS machine and complete the order process.
  5. Once your order is processed, you’ll receive a confirmation email with a tracking number.
  6. Your POS machine will be delivered to you within 48 hours.

Once you have your POS machine, you’ll need to activate it and set it up. You can do this by following the instructions that come with your machine.

How long does it take to get a Moniepoint POS terminal?

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How long it takes to get a Moniepoint POS terminal depends on a few factors, including the availability of stock, your location, and the time of day you place your order. However, in general, you can expect to receive your POS terminal within 48 hours of placing your order.

If you place your order before 12pm, your POS terminal will likely be shipped out the same day and should arrive within 24 hours. If you place your order after 12pm, it will likely be shipped out the next business day and should arrive within 48 hours.

Keep in mind that if you live in a remote area, it may take a little longer for your POS terminal to arrive. However, Moniepoint does offer expedited shipping options for an additional fee.

To order a Moniepoint POS terminal, simply visit the Moniepoint website or download the Moniepoint Business Banking app. Once you have created an account, you can select the POS terminal that is right for your business and place your order.

How to Become a Moniepoint Agent

Becoming a Moniepoint agent is a great way to start your own business and provide essential financial services to your community. Moniepoint is a leading provider of Point-of-Sale (POS) terminals and financial services in Nigeria. With a Moniepoint POS terminal, you can offer a variety of services to your customers, including:

  • Cash withdrawals
  • Airtime recharge
  • Bill payments
  • Money transfers
  • Fund transfers
  • And more!
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To become a Moniepoint agent, you must meet the following requirements:

  • You must be a Nigerian citizen and at least 18 years old.
  • You must have a valid government-issued ID, such as a National ID card or driver’s license.
  • You must have a Bank Verification Number (BVN).
  • You must have a business location in a high-traffic area.
  • You must be able to provide a security deposit.

If you meet all of the requirements, you can follow these steps to become a Moniepoint agent:

  1. Visit the Moniepoint website and fill out the online application form.
  2. Provide all of the required documents, including your government-issued ID, BVN, and business location details.
  3. Pay the security deposit.
  4. Once your application is approved, you will receive a Moniepoint POS terminal and training on how to use it.

Once you have become a Moniepoint agent, you can start offering financial services to your customers. You will earn a commission on every transaction that you process. Moniepoint also offers a variety of other benefits to its agents, such as:

  • Free training and support
  • Access to marketing and promotional materials
  • Competitive commissions
  • Rewards and incentives

If you are interested in becoming a Moniepoint agent, I encourage you to visit the Moniepoint website and learn more. It is a great way to start your own business and provide essential financial services to your community.

How do I log in to Moniepoint POS?

Logging in to your Moniepoint POS is a simple process that can be done in just a few steps. Here’s how:

  1. Go to the Moniepoint login page. You can do this by typing atm.moniepoint.com/login into your web browser’s address bar.
  2. Enter your username and password in the corresponding fields.
  3. Click the Login button.

If you’ve entered your credentials correctly, you’ll be logged in to your Moniepoint POS dashboard.

What if I forgot my username or password?

Don’t worry! If you forgot your username or password, you can easily reset it.

To reset your username, click the Forgot Username link on the login page. You’ll be asked to enter your phone number. Once you’ve entered your phone number, Moniepoint will send you a text message with your username.

To reset your password, click the Forgot Password link on the login page. You’ll be asked to enter your username and email address. Once you’ve entered your username and email address, Moniepoint will send you an email with instructions on how to reset your password.

How to solve Moniepoint transaction limits

Moniepoint is a popular point-of-sale (POS) system in Nigeria that allows businesses of all sizes to accept payments from customers via card, mobile money, and other electronic payment methods. However, Moniepoint does have transaction limits in place to protect against fraud and other financial risks.

If you’re a Moniepoint merchant and you’re hitting your transaction limits, there are a few things you can do to solve the problem:

  1. Upgrade your KYC (Know Your Customer) status. Moniepoint merchants with full KYC status have higher transaction limits than merchants with pending KYC status. To upgrade your KYC status, you’ll need to provide Moniepoint with some additional information about your business, such as your business registration number and tax identification number.
  2. Contact your Business Relationship Manager (BRM). Your BRM can help you to increase your transaction limits if you can demonstrate that your business needs them. For example, if you’re running a busy restaurant during peak season, your BRM may be willing to increase your transaction limits temporarily.
  3. Use multiple POS terminals. If you have multiple POS terminals, you can split your transactions between them to avoid hitting your limits on any one terminal.
  4. Accept alternative payment methods. Moniepoint supports a variety of alternative payment methods, such as mobile money and bank transfers. If you’re having trouble accepting card payments due to transaction limits, you can encourage your customers to use alternative payment methods instead.

Richard okechukwu Chinedu

FinTech enthusiast with a passion for making financial technology accessible and understandable. I break down complex concepts into actionable insights to empower readers to navigate the ever-evolving world of FinTech.

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