Moniepoint Microfinance Bank is one of the most popular bank amongst small and medium scale business owners. Their payment platform is widely used as well as their Point of Sale (POS) machines. Many Nigerian businesses depend on Moniepoint POS to carry out transactions and they have made it easy for this businesses.
The request for Moniepoint POS has grown over the years due to the good service the company offers. Many people in Nigeria wonder how to easily get Moniepoint POS machine for their business. They can do this if they follow the steps I will be revealing to them in this article.
POS agents and business owners who make use of POS for transactions can make use of the details I will be revealing to apply and easily get their moniepoint POS machines. Before I dive into that let me give you a brief information about the company.
Moniepoint is a microfinance bank that has its head quarters in Ibadan the capital city of Oyo state. It was licensed by the Central Bank of Nigeria (CBN) in February 2022 to operate as a microfinance bank. Moniepoint offers several services like a payment platform for business owners and individuals.
They also have a Point of Sale (POS) machine that businesses use for financial transaction. It is also one of the top choice for POS agents who use it for their business. Moniepoint also offers loan to small scale businesses and individuals who require it.
This financial institution has an ATM card that account holders use to carry out transactions. It was awarded by CBN in 2022 as the most inclusive payment platform in the country. Moniepoint has an app that is very easy and seamless to use.
Moniepoint helps over 600,000 businesses with banking, payments processing, access to loans and business management tools. The company has several offices spread around 33 states of the country.
Benefit Of Using Moniepoint POS Machine
There are so many benefits to using Moniepoint POS machine. These are some of them listed below;
1. Secure Payment: One of the main benefit of using a moniepoint POS machine is that it has a secure payment system. The Moniepoint POS machine is so secure that you can carry out as much transaction as you like with it without fear of hack or loss of money. Both business owners and customers who use the POS are protected.
2. Easy Operating System: The operating system of Moniepoint POS is very easy to use. Anyone can operate the machine without the need for training. But if you are someone that has no idea how to operate these kinds of machine, you will be trained on how to use it at the point of purchase by your relationship manager.
3. Customer Care: When you purchase the Moniepoint POS you are automatically granted access to a customer care representative. This representative will assist you with any issue you might encounter. Also moniepoint also has different platform in which you can contact them including WhatsApp.
4. Long Lasting Battery: The Moniepoint POS has a long lasting battery and can work for hours without charging. This enables users to work without fear.
5. Compatibility With Cards: The Moniepoint POS is compatible with all ATM cards, therefore you don’t need to worry about card rejection.
How Much Is Moniepoint POS Machine In Nigeria
Before you can apply for Moniepoint POS you need to know how much it cost. Of course to get this efficient POS machine in Nigeria is not free, you will have to pay the sum of ₦21,500. The money is breakdown into ₦10,000 caution fee, ₦10,000 logistics fee, and ₦1,500 insurance fee for 1 year.
When you pay this fee you will be assigned a dedicated Relationship Manager from Moniepoint. This manager will deliver the POS machine to you within 48hours and also train you on how to use it.
Moniepoint POS Charges and Commission
Moniepoint has a very low rate when it comes to charges. If you compare it with other POS machine has some of the best rate. Here some of their charges.
- Moniepoint charges a flat fee of N20 for transfer to all banks in Nigeria.
- They charge a rate of 0.5% on withdrawal that is between N1 to N20,000.
- They charge a flat rate of N100 for transaction above N20,000.
- Moniepoint charge 2% for airtime recharge, across all network.
- Moniepoint does not charge any fee for bill payment.
- They have a target of N50,000 for daily withdrawal for their agents.
Requirements To Obtain A Moniepoint POS Machine
Before you can get a Moniepoint POS in Nigeria you have to meet these requirements listed below:
- Must be 18years and Above
- Have an identity card which could be either National ID, Voters car, or any other nationally accepted card
- Have an active bank account for transfer
- Have a BVN number
- Have a PHCN bill
- Own a smart phone
- Have a Moniepoint business account.
How To Easily Get Moniepoint POS Machine For Your Business
In order to get your Moniepoint POS machine you can try to method.
1. You can visit any of the Moniepoint offices nearest to you. To find your moniepoint office address you can use this. List of Moniepoint Offices In Nigeria.
2. The other method is to apply for your Moniepoint POS online. To apply online you should follow this instruction.
- Visit the Moniepoint website. You can click here to visit.
- You will be required to fill out the registration form using your name, email address, phone number, state of residence and others.
- Click on the submit button when you are done filling the form.
- An email will be sent to your email address for email confirmation.
- Once the email is confirmed, you will have to wait for a Moniepoint agent to reach out to you. This can take up to 2 days.
- The agent will work you through any other step that is required. This include payment for the POS and other things.
- Once everything is settled you will be able to access your POS dashboard.
- Your POS will also be delivered to you once you have completed all the step.
How To Log In to Your Moniepoint POS Dashboard
Once you have applied for your moniepoint POS you will need to log in to your dashboard to manage your account. In order to do this you should follow this simple step.
- Download the moniepoint app from google playstore or apple store if you make use of an iphone.
- You will need a username and password to access the application.
- Use your details to login to the moniepoint app.
After you have gained access to your moniepoint app you can carry out any transaction you desire in it. Including transfer, bill payment, recharge airtime and generate invoice.
Moniepoint has one of the best POS machines in Nigeria. Their service is topnotch and the have 99% uptime. If you follow the instructions above you can easily learn how to get your moniepoint POS machine.