The POS business is one of the fastest-growing small businesses in Nigeria today. With many people relying on nearby agents for cash withdrawals, transfers, and bill payments, owning a POS terminal can generate daily income.

One of the most reliable POS providers in Nigeria is Moniepoint, which offers agent banking services to thousands of businesses across the country.

If you’re planning to start a POS business, this guide will show you how to get a Moniepoint POS machine in Nigeria, the requirements, costs, and important tips for success.

Also Read Complete Guide to Starting a POS Business in Nigeria

What Is Moniepoint POS?

A Moniepoint POS machine is a payment terminal that allows business owners to perform banking transactions for customers. With this device, you can offer services such as:

• Cash withdrawals
• Money transfers
• Cash deposits
• Airtime and data sales
• Bill payments

The POS machine prints receipts and allows customers to pay using ATM cards or bank transfers.

Moniepoint is a leading POS Provider in Nigeria and they process billions of naira in transactions monthly and operates over a million active POS terminals across Nigeria

Requirements to Get a Moniepoint POS Machine

Before you can become a Moniepoint agent, you must provide some verification documents.
These include:

• Valid ID card (National ID, voter’s card, driver’s license, or passport)

• BVN (Bank Verification Number)

• Active phone number
• Passport photograph
• Utility bill for address verification
• Bank account details

These documents are required for KYC verification and security compliance.

How Much Is Moniepoint POS Machine?

To get a Moniepoint POS machine, you may need to pay a caution fee and logistics charges.
Typical cost breakdown:

FEE TYPE	AMOUNT
Caution Fee	₦10,000
Logistics Fee	₦10,000
Insurance Fee	₦1,500
TOTAL COST	₦11,500

The caution fee is refundable if the POS machine is returned in good working condition. Some agents may also receive the device for free depending on performance, requirements and location

Step wise process to Get Moniepoint POS

Create a Moniepoint Business Account:

Visit the Moniepoint website or download the Moniepoint business app.
Fill in details such as:

• Full name
• Phone number
• Email address
• Business location
• State and local government area

After submitting your application, your account will be created.

Complete Your Verification

Upload the required documents including:

• BVN
• ID card
• Utility bill

This step helps confirm your identity and business location.

Request a POS Terminal

After verification, log in to your Moniepoint dashboard and select Request POS. You will need to provide:

• Delivery address
• Business location details

Pay the Required Fees

To process your request, you must fund your Moniepoint business account with about ₦21,500 which covers the caution fee, logistics, and insurance

Receive Your POS Machine

Once your request is approved, Moniepoint will assign you a relationship manager.
The POS machine is usually delivered within 24–48 hours depending on your location, and you will also receive training on how to operate it

Moniepoint POS Charges and Commission

Before starting your POS business, it is important to understand the transaction charges.
Typical charges include:

• Withdrawals (₦1 – ₦20,000): 0.5% of the transaction amount
• Withdrawals above ₦20,000: ₦100 flat fee
• Transfers: ₦20 per transaction

POS agents earn commissions from these transactions

Interested in Knowing more about POS Agents Income? Read our Guide on How Much POS Agents Make Daily

How Much Can You Earn From Moniepoint POS?

Your income depends on your location and daily transaction volume.
Example estimate:

TRANSACTIONS PER DAY	AVERAGE PROFIT
50 Transactions	₦3,000- ₦5,000
100 Transactions	₦6,000- ₦10,000
200+  Transactions	₦15,000 and above

Busy locations like markets, bus stops, and campuses can generate significant daily profit.

Important Things to Know

• The POS machine does not belong to you — it is leased by Moniepoint.
• The ₦10,000 caution fee is refundable if the device is returned in good condition.
• Offcamp
• After payment, the POS is usually delivered within about 48 hours through a relationship manager.

The Standard Price for Moniepoint POS Machine is ₦21,500, if you apply Directly through Moniepoint

Why Some People Pay ₦25,000 – ₦30,000

You may see higher prices because:

• Third-party agents charge registration fees
• Some sellers include delivery charges
• Some are scams or unofficial resellers

That’s why it’s safer to apply directly through Moniepoint.

Tips for a Successful POS Business

Starting a POS business is easy, but success depends on a few factors.

1.Choose a Busy Location

Areas with high foot traffic attract more customers.

2.Maintain Enough Cash

Always have enough cash for withdrawals.

3.Ensure Good Network

POS machines rely on internet connectivity for transactions.

4.Provide Good Customer Service

Friendly service helps build customer loyalty.

Common Mistakes to Avoid

Many POS agents struggle because of avoidable mistakes. Avoid these:

• Starting in a location with low demand
• Running out of cash during busy periods
• Poor record keeping
• Ignoring security precautions

Final Thoughts

Getting a POS machine from Moniepoint is one of the easiest ways to start a small business in Nigeria. With low startup costs and daily demand for banking services, the POS business can provide a reliable income stream.

If you choose the right location, manage your cash well, and provide good service, a Moniepoint POS business can become a profitable long-term venture.