Are you looking to start a POS business and want to know how you can get the Moniepoint POS device? You’re in the right place.
Today, we will be looking at how to get the Moniepoint POS device, as well as the charges and commissions you can expect when you become a Moniepoing agent.
Agent banking services are increasing daily in Nigeria and it’s little wonder almost every street in the Nigerian cities have an agent banker or POS terminal.
It is fast becoming an opportunity to earn income in Nigeria and many who want to become an agent banker always seek out to know the best options. This might be how you heard about Moniepoint and have decided to check out what is involved.
So let’s start by learning what Moniepoint is.
What is Moniepoint?
Moniepoint is a financial institution and mobile money operator that provides financial services for Nigerians. It is one of the fastest-growing mobile money platforms that offers banking services in Nigeria among a handful of them they are springing up.
Similar to other mobile operators, Moniepoint uses the POS (point-of-sale) device to perform transactions. These services include cash transfers and withdrawals, and bill payments, airtime top ups etc.
The system is transparent which is why it is seen as one of the most trusted platforms for financial services. This platform has been around for quite some time. As it stands, the platform has received many positive reviews.
How to Register to Become a Moniepoint Agent
Becoming a Moniepoint agent is one of the first steps to getting the Moniepoint POS and making money.
The goal here is to become their agent, get the POS device and start performing transactions for people using the Moniepoint POS device and earning your commissions.
To become a Moneipoint agent is easy. You simply need to:
- Visit the registration page.
- Fill out the registration form
The information you will need to provide are:
- Your name
- Email address
- Telephone number
- Your gender
- Local government
- Answer if you are an existing mobile money agent.
Filling out the form will take only a few minutes. After you submit, they will contact you at the email address that you provided.
Before they approve you as an agent, you will need to submit some documents.
The following document will be required of you to complete your Moniepoint agent registration.
- Identification card (Voters card, National ID, Driving Licence, Passport)
- Utility bill
- CAC documents (if applicable).
- Number of Bank Account
Getting the Moniepoint POS device
After you have registered as an Agent and gotten approved. The next is to get the Moniepoint POS device.
The Moniepoint POS machine acts as a mini-bank for financial transactions. It’s the most importance aspect of being a Moniepoint agent and you can’t do any transaction without the POS.
It is very easy to get the POS machine. It is actually the easiest machine to obtain in Nigeria.
To get the Moniepoint POS device:
- Simply go the any Moniepoint office near you
- Ask for the “Cluster Manager” and make your request known.
- He/she will walk you through the process you need to get your POS device.
If you meet all the requirements, you will likely get it withing a few days.
How much does the MoniePoint POS device Cost?
Getting the Moniepoint POS device might cost you N25,000.
Moniepoint POS Charges and Commission
All mobile money transactions are subject to a commission and fixed charges. Moniepoint seems to have a better rate.
Below are the Moniepoint commission and charges.
|Transfer & Deposits||₦1-₦5K||₦20|
|Airtime Recharge||MTN||Agent will earn 3%|
|Glo||Agent will earn 4%|
|Airtel||Agent will earn 4%|
|Etisalat||Agent will earn 4.5%|
|Cable TV Top Up||Agent will earn 2%|
Benefits of Being a Moniepoint Agent
There are many mobile money platforms. However, there are some reasons you might want to choose Moniepoint.
Below are some reasons you might consider becoming a Moniepoint Agent.
1. Instant Payment
They instantly settle agents. They claim that they offer instant settlements because they know you would need to have access to your money immediately after you make it.
2. Moniepoint Offer Good Customer Support
Never look down on customer support. A good customer service team is essential for the smooth operation of any business. Moniepoint has a team of competent support personnel that can help you with any problem.
Their support staffs are available to help you with any issue you may have or to file a complaint. They can be reached via email or WhatsApp and will respond as quickly as possible.
3. Good Commission
They offer a great price to their agent and take a low commission. Their agents can compete with other agents while still making a decent amount of money.
This is also one reason why customers prefer to transact with this bank agency.
4. Reliable Network
Reliable networks are one of the key factors that distinguish bank agents from others. Reliable networks will ensure that you don’t lose business to others agents due to network problems. The best network is what Moniepoint offers, which seems to be the reason they are so popular.
5. Different transaction channels
Moniepoint allows you to access different channels for transactions. You have the option to manage your business via a mobile app, smartPOS, or POS machine. You can use any one of them and you are good to go.
Agents can also use the Moniepoint app for transactions. To begin performing transactions, simply download the app from google play store. The app is currently not available for Apple devices. Apple device owners will need to wait until they create an application for their device.
Why you should become an agent
If you are looking to make money, a POS business might be a good option. Most people have found work through the business. It’s a major source of income for some people, as I have already mentioned.
Even if your business is already established, you still add it as a side hustle to supplement your income.
Moniepoint is one of the best POS device available today. It is affordable and the transaction fees for Moniepoint POS are lower than most POS devices.
Below are some quick answers to the most common questions about Moniepoint.
How do I become an agent?
Fill out the registration form to register as an agent. Within a few days, they will reply to you.
How do I get Moniepoint POS?
Visit their offices to get your POS machine. You will be guided through the process of getting the POS machine once you have reached their office. The POS machine will be delivered within a few days or less, usually within 48 hours.
What is the cost of Moniepoint POS Machines?
You will need to pay N25,000 to purchase a POS machine. This is lower than the cost of other POS devices.
What are Moniepoint’s POS charges?
Moniepoint charges 0.5% on withdrawals below N20,000 and N100 fee on withdrawals of more than N20,000. Transfers are also subject to N20 charges
Is there a daily target for Moniepoint agents?
The daily target for Moniepoint agents is N70,000 worth of transactions. If you fail to meet the daily target at least three times, Moniepoint may take your POS terminal.
How do I contact Moniepoint Customer Services
If you have any concerns, they offer reliable customer service that you can call. You can contact them via whatsapp on +2348141500017 or email at [email protected]
Moniepoint is a great platform to start a POS business. Their transparent system of working is what makes them stand apart.
They also offer a better rate than most banks to their agents. You don’t need to worry if you have any issues with your transactions. Moniepoint will resolve it the same day.