Point of sale commonly known as POS was popularly used by business owners for the payment of goods and services. This service has quickly turned into a business of its own in Nigeria, especially with the large population of people looking for easier and faster ways to withdraw and transfer money.
POS business is one of the most lucrative and low capital businesses to start in Nigeria, but one must first consider the cost of a POS machine before you start. In this post we will be looking at the cheapest POS machines available in the Nigerian market today.
While we look at the cheapest POS machine in Nigeria, you should know that there are various ways one can get a POS machine. You have the option of leasing one from a financial institution like Opay or from a bank or purchase one for yourself from a POS dealer.
As much as leasing a POS machine is a common practice for lots of POS businesses, the requirements and waiting period can be quite frustrating. These financial institutions will also charge a fee for every transaction made with the POS machine.
You can also choose to purchase a fairly used POS machine from one of the POS dealers I will be discussing in this post. It is important to note that purchasing a fairly used POS machine can be risky and not advisable especially if you have little or no knowledge on how a POS machine works.
Before we dive into it let us discusses about some of the POS dealers one can purchase POS machine from in Nigeria.
POS DEALERS IN NIGERIA AND THEIR LOCATION
There are several top POS dealers in Nigeria from whom one can buy POS machine from and skip the long and stressful process of leasing. When you lease a POS machine from the bank or other financial institutions, you will discover that the process is quite stressful and the waiting period longer.
Below are the top POS dealers in Nigeria and their Location
1. Jumia
Jumia is one of the leading online shopping sites in Nigeria, this online shop has made it easy for its users to shop for various types of products at the comfort of their homes. The POS machine and accessories is one of the products offered by Jumia to its customers.
They have various types of POS machine like the handheld POS terminal, android POS machine and others. Their price range depends on the type and quality of the POS machine ranging from as low as ₦35,000. They also seem to have good reviews on the quality of their product. If you are looking for cheap and quality then Jumia will definitely be a good place to start.
2. Jiji
Jiji is another online shopping site in Nigeria they provide buyers and sellers with an avenue to exchange goods. They offer both brand new and fairly used POS machines. One can get a wide range of POS machines to pick from, the price of these machines depends on the features and quality of the machine.
POS machines on Jiji ranges from as low as ₦20,000 to purchase. Whether you are looking for a fairly used or brand-new POS machine Jiji is surly a site to visit. These are some of the best POS machine dealers in Nigeria.
Other POS dealers include
- Citiserve Limited located at 6 Ogborne Road, Ikoyi Lagos
- EPOS Solutions located at 168 Monolaji Bank Anthony Way behind keystone bank, Maryland, Lagos
- BFM Consulting located at 36B Toyin Street, Ikeja, Lagos
- Neo Hit Tech Solutions located at 62, Opebi Road, Ikeja, Lagos.
- Boromax Global Limited located at 12 Simbiat Abiola way, computer village, Ikeja, Lagos.
- Plantinum grade located at 5, Mojisola Street, Ifako Agege, Ifako Ilaiye, Lagos
- Accelerex Global located at 8, Eric Moore Street, Off Ajao Road, WEMABOD Estate, Ikeja, Lagos.
- ICT and I located at Suite 4, 21, Opebi Road, Opebi, Ikeja, Lagos, Nigeria.
29 Cheapest POS Machine in Nigeria
When starting a business, you want to spend less and still have quality. what if I tell you, you can have them both. There are a lot of POS machines in the Nigerian market today and it is easy to get confused on which one to purchase. Don’t worry as I am here to help you not just narrow your options but make a good and pocket friendly choice.
Now that we have discussed the different POS dealers and where to locate them, lets shift our focus to the cheapest POS machines available in Nigeria.
- Opay mini POS Machine ₦8,500
- Flutterwave POS Machine ₦10,000
- Surebanka POS Machine ₦10,000
- Accelerex POS ₦10,000
- Playcenter POS Machine ₦14,000
- Dataway POS Machine ₦15,000
- Baxi 2.0 Android POS Machine ₦15,000
- Palmpay Traditional POS Machine ₦20,000
- Opay Traditional POS Terminal ₦20,000
- Kudi POS Terminal ₦20,000
- Monie Point POS Terminal ₦20,000
- Payforce POS Machine ₦25,000
- ECOSA POS ₦25,000
- Sure pay POS machine ₦25,000
- Dot Pay POS Terminal ₦27,000
- Bankly POS Machine MP35P ₦30,000
- 9PSB Android POS Terminal ₦30,000
- Clever Moni Traditional Handheld POS Machine ₦35,000
- PayFux POS Terminal ₦35,000
- Aisino V71 POS Terminal ₦40,000
- Opay Android POS Machine ₦40,000
- Nexgo G2 POS Terminal ₦43,000
- Bank NEW8210 POS Machine ₦43,000
- Pax S90 POS Machine ₦55,000
- Nexgo G3 POS Terminal ₦55,000
- MHT M1 POS Terminal ₦55,000
- Q2 Smart Wiresless POS Terminal ₦60,000
- TPS300 USSD Handheld dual brand POS Machine ₦65,000
- Impressora Android POS Machine
N75,000
POS TERMINAL LEASING COMPANIES WITH CHEAP CHARGES
Just in case purchasing a POS machine is not for you there is an alternative of leasing. As I easier stated leasing a POS machine can be stressful but it is not impossible to do. Most of these financial institutions will give you the POS machine for free but charge you a fee on any transaction done with the machine.
The charges vary depending on the financial institutions. This charges will also affect the profit of your business, that is why I will be focusing on those institution with very low charge fee.
| S/N | POS LEASING COMPANIES | CAUTION/REGISTRATION FEE | REQUIREMENTS | CHARGE |
| 1 | Bankly POS | FREE | Vaild ID card, Utility bill like Nepa bill and passport | 0.3% on every withdrawal and a flat rate of |
| 2 | Moniepoint POS | Vaild ID card, Utility bill like Nepa bill and passport | 0.5% charged of the transaction amount for transaction above | |
| 3 | Kolomoni | Vaild ID card, Utility bill like Nepa bill and passport | 0. 5% on withdrawal from | |
| 4 | Opay POS | Vaild ID card, Utility bill like Nepa bill and passport | 0.6% for withdrawals below | |
| 5 | Kudi POS | FREE 20,000 nonrefundable fee if you want a fast registration. | Vaild ID card, Utility bill like Nepa bill and passport | |
| 6 | GT Bank POS | FREE | Vaild ID card, Utility bill like Nepa bill and passport and a current account with the bank was you must have been using for at least 6months | A fee of 0.75% for all POS service |
When you want to start a POS Machine business in Nigeria, it is important to be updated with all the necessary information needed. Getting the cheapest and best POS machine will help your business soar. I hope you find this information helpful. Do leave your comments below and I will respond to you as soon as possible.
How do I get a good pos terminal like moniepoint or opay. Am a beginner, and what is the cost
How much is opay pos machine new one