fbpx
Connect with us

Business

How Much Does Moniepoint POS Cost To Get, Eligibility, How To Apply, Benefits

With free registration, getting a Moniepoint POS machine requires a One-Time Payment of N21,500 at the Moniepoint office.

Published

on

Moniepoint POS
Moniepoint POS

With free registration, getting a Moniepoint POS machine requires a One-Time Payment of N21,500 at the Moniepoint office.

The ₦21,500 includes a ₦10,000 caution fee, ₦10,000 logistics fee, and ₦1,500 insurance fee for one year.

Are you considering integrating a point of sale (POS) system into your business operations? If so, you might have stumbled upon Moniepoint POS. However, how much does Moniepoint POS cost? That’s a question many business owners are asking. Here, we will discuss the details and explore the various costs associated with Moniepoint POS, but first things first, let’s understand what Moniepoint POS is.

What is Moniepoint POS?

moniepoint pos

Moniepoint POS is a well-known cashless payment option in Nigeria that makes it simple for companies to accept payments. This payment system accepts bank transfers, credit cards, and mobile payments, among other electronic forms of payment.

Businesses can process transactions fast and efficiently with Moniepoint POS and provide customers with a seamless payment experience. The Moniepoint POS has an easy-to-use interface that is suitable for all users.

Advertisement

In addition, Moniepoint  delivers various services, such as airtime top-ups, bill payments, and money transfers, enabling businesses to provide their customers with additional services.

Many keep asking, how much does Moniepoint POS cost? To begin using the Moniepoint POS, businesses need to download the app, buy the POS machine, and create an account. The organization provides great customer service and reasonable point-of-sale fees. In general, companies looking to take cashless payments and provide extra services to their clients would find Moniepoint POS to be a dependable and practical option.

How Much Does It Cost To Get

how much does Moniepoint POS cost

Now, how much does Moniepoint POS cost to get started? This is a crucial and important question. After all, you want to ensure that incorporating this POS system into your business is financially viable. 

Well, the good news is that Moniepoint offers a relatively straightforward pricing structure. However, it’s essential to understand that the costs differ based on your business needs and requirements, including the package or plan you choose, any additional features or services you choose, and your transaction volume. 

At its core, Moniepoint POS provides a range of services to streamline payment processing for businesses of all sizes. Whether you run a small retail shop or manage a bustling restaurant, Moniepoint POS aims to simplify your transactions and enhance overall efficiency.

Advertisement

With free registration, getting a Moniepoint POS machine requires a One-Time Payment of N21,500 at the Moniepoint office. The ₦21,500 includes a ₦10,000 caution fee, ₦10,000 logistics fee, and ₦1,500 insurance fee for one year.

Once you have the machine, you can register as an agent and empower your business with cashless transactions. However, if you register for rent as an agent, the machine doesn’t become yours after you pay. It remains the property of the company. You’d also be paid 10,000 NGN out of the initial rental payment whenever you return the machine. 

While this is the main cost of getting the Moniepoint POS machine, you might encounter other cost components as you incorporate it into your business. These may include:

A. Hardware Cost:

One of the primary costs associated with Moniepoint POS is the hardware. Depending on your setup, this includes the physical devices you’ll need to process transactions, such as card readers, terminals, and perhaps tablets or smartphones. 

Advertisement

Prices vary, but you can typically expect to invest in these devices’ initial purchase or lease.

B. Software Fees:

How much does Moniepoint POS cost for software usage? Again, this can vary depending on your chosen plan. Some plans may have a monthly subscription fee for access to the POS software, while others offer a pay-as-you-go model based on transaction volume. When selecting a software plan, consider your business’s needs and budget.

C. Transaction Fees:

Transaction fees are another aspect to consider when calculating the overall cost of using Moniepoint POS. How much does Moniepoint POS cost per transaction? This can depend on various factors, including the type of transaction (e.g., card-present or card-not-present), the card network (e.g., Visa, Mastercard), and any additional services you may require, such as instant settlement or international transactions. 

However, Moniepoint charges a flat rate of:

Advertisement
  • 0.5% of the transaction amount for withdrawals between N1 to N20,000. 
  • N100 for transactions above N20,000
  • A flat rate of N20 for transfers
  • Moniepoint gives a BOs (Business Owner) cashback of up to #20 on withdrawals and #5 on transfers.
  • For airtime, they charge 2% for all networks.
  • There is no charge placed on bill payments.

Also when considering  How much does Moniepoint POS cost per transaction? It is also essential to factor in any additional costs or fees that may apply. These could include setup fees, maintenance fees, customer support fees, and any other miscellaneous charges.

But hey, don’t let the potential costs deter you just yet! While it’s crucial to understand the financial implications of adopting Moniepoint POS, it’s also essential to consider its possible benefits to your business. 

From streamlining your checkout process to gaining valuable insights into your sales data, a robust POS system like Moniepoint can be a game-changer for your operations. Let’s take a quick look at other top benefits.

Benefits of Moniepoint POS

Benefits of Moniepoint POS

Offering a range of advantages that simplify operations and enhance customer experience. Here are some key benefits of using Moniepoint POS:

1. Secure and Efficient Transactions

Moniepoint prioritizes security. Their POS terminals boast features like encrypted payment processing and the ability to identify potentially fraudulent transactions. This safeguards both your business and your customers’ financial information. 

Additionally, the system facilitates quick and effortless payment processing, reducing waiting times and queues.

2. Diverse Payment Options

Moniepoint POS caters to the evolving payment landscape by accepting various payment methods beyond traditional cards. Customers can conveniently pay using cards, bank transfers, or even mobile wallets, increasing accessibility and catering to a broader customer base.

3. Simplified Inventory Management

Moniepoint POS goes beyond just processing transactions. It offers built-in inventory management features, allowing you to track stock levels, monitor sales trends, and optimize your purchasing decisions. This streamlines inventory control and reduces the risk of stockouts or overstocking.

5. User-friendly Interface

Moniepoint POS is designed for ease of use. The interface is intuitive and user-friendly, requiring minimal staff training to become proficient. This translates to faster adoption and smoother operation, saving you valuable time and resources.

5. 24/7 Customer Support

Moniepoint understands the importance of reliable support. They offer 24/7 customer assistance, ensuring you have access to help whenever you encounter technical difficulties or have questions about the system. This peace of mind lets you focus on confidently running your business.

6. Additional Services

Moniepoint POS offers a suite of additional services that can benefit your business. These include bill payments, airtime, data purchases, and loan collection capabilities, all within the same platform. This all-encompassing strategy removes the need for multiple solutions, streamlining your operations further.

7. Long-lasting Battery

One of the standout features of Moniepoint POS is its long-lasting battery. This means you can rely on your POS device to keep running smoothly throughout the day without constantly needing to recharge. 

Whether you’re processing transactions in a busy store or on the go, having a dependable battery ensures you can always serve your customers without interruption.

Advertisement

8. Instant Payment Reversals and Dispute Resolutions

With Moniepoint POS, you can say goodbye to long wait times for payment reversals and dispute resolutions. The system is equipped to handle these situations swiftly and efficiently, giving you and your customers peace of mind. 

Whether a mistaken transaction or a genuine dispute, Moniepoint POS ensures that issues are resolved in real time, allowing you to maintain customer satisfaction and trust.

I remember a particular hectic day at the small retail store close to my office when a customer rushed in to make a purchase. They seemed in a hurry, and as the store owner processed their payment using Moniepoint POS, she accidentally keyed in the wrong amount. The transaction went through before she could correct the mistake, leaving the customer and herself frustrated.

Thankfully, Moniepoint POS came to the rescue with its instant payment reversal feature. With a few quick taps on the POS device, she initiated the reversal process, and to her greatest relief, the funds were returned to the customer’s account within minutes. Not only did this resolve the issue swiftly, but it also saved her from potential headaches and customer dissatisfaction.

The seamless experience of reversing the payment on Moniepoint POS left a lasting impression on both the woman and the customer. It demonstrated the reliability and efficiency of the system, reassuring us that even in moments of error, Moniepoint got our backs. 

Advertisement

This incident strengthened her in the POS system and reinforced her commitment to providing excellent service to her customers.

9. Low Transaction Charges

How much does Moniepoint POS cost? Well, cost is always a concern for business owners, but with Moniepoint POS, transaction charges are kept low. This means you can keep more of your hard-earned revenue instead of shelling out hefty fees every time you process a payment. Moniepoint helps you maximize your profits and improve your bottom line by minimizing transaction costs.

10. Earn Commissions on Additional Services

Moniepoint POS doesn’t just facilitate payments – it also offers opportunities for additional income. When you use Moniepoint to process bill payments and sell airtime and data, you earn commissions on each transaction. This means that whenever a customer tops up their phone or settles a utility bill through your POS, you’re not just providing a service but also boosting your revenue stream.

With all these benefits catering to the needs of businesses and customers alike, Moniepoint POS is a win-win for companies looking to expand their revenue streams. 

So, rather than dwelling on The question How much does Moniepoint POS cost? By leveraging its benefits, companies can experience increased efficiency, enhanced security, and improved customer satisfaction. With its diverse features and user-centric approach, Moniepoint POS empowers businesses to thrive in today’s dynamic market.

Now that you know the juicy benefits of the Moniepoint POS, you’d want to incorporate it into your business. Below are the steps to apply for Moniepoint POS as well as the eligibility criteria for acquiring a Moniepoint POS machine.

Advertisement

How To Apply For Moniepoint POS

How To Apply For Moniepoint POS

To apply for Moniepoint POS, follow the steps explained below:

  • Open a business account and sign in
  • Fill out the necessary information, and a business account will be created for you immediately. After that, log into your business dashboard and click the POS menu.
  • By selecting the ‘Add a new POS button’ and adhering to the guidelines, you can request a new point of sale system.
  •  Credit your account and pay for the terminal. 
  • You can complete the request by depositing a minimum of ₦21,500 for the POS Terminal into your newly established Business Account. For one year, the ₦21,500 includes a ₦10,000 caution charge, ₦10,000 for logistics, and ₦1,500 for insurance.
  • Get your POS delivered within 48 hours. You will be instantly assigned a dedicated Relationship Manager from Moniepoint. The Relationship Manager will deliver the POS terminal to you within 48 hours, train you on how to use the terminal, and answer any questions you may have.

Eligibility Criteria For Acquiring A Moniepoint POS Machine

Eligibility Criteria For Acquiring A Moniepoint POS Machine

To get a Moniepoint POS machine, you need to meet specific criteria. This includes:

  1. An active Moniepoint account
  2. A valid bank account
  3. A bank verification number (BVN)
  4. Valid means of identification such as a Voter’s Card, National ID Card, Driver’s License, or International Passport
  5. A recent utility bill
  6. A registered business
  7. Your Bank Account Statement

In conclusion

The question: How much does Moniepoint POS cost? is valid for anyone considering integrating this POS system into their business operations. Understanding the price allows you to make selections and decisions that align with your budget and objectives. 

And remember, while cost is undoubtedly an important factor, it’s also essential to consider the potential benefits and value that Moniepoint POS can bring to your business. Why not take the next step and explore how Moniepoint POS can help you improve customer experiences, promote growth, and optimize company operations?

Thanks for reading, if you like this article, please feel free to share and drop your comment. 

whatsapp

Stay ahead with VerseNews. Get the latest breaking news, insightful analysis, and trending stories. Your go-to source for timely updates and unbiased reporting.

Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

WATCH: Nigeria Newspaper Headline Today

Apply For Latest Job Openings

Trending

'My Wife's Ring Can Buy 2 Or 3 Rolls Royce' - Davido Brags As Chioma Flaunts $1 Million Diamond Ring (Video) 'My Wife's Ring Can Buy 2 Or 3 Rolls Royce' - Davido Brags As Chioma Flaunts $1 Million Diamond Ring (Video)
Entertainment3 months ago

‘My Wife’s Ring Can Buy 2 Or 3 Rolls Royce’ – Davido Brags As Chioma Flaunts $1 Million Diamond Ring (Video)

Nigerian Afrobeat star Davido and his fiancée Chioma Rowland, who are set to wed on June 25th, made headlines as...

Labour Party Leadership Crisis Resolved As Abure and Apapa Factions Unite Labour Party Leadership Crisis Resolved As Abure and Apapa Factions Unite
Politics3 months ago

BREAKING: Labour Party Leadership Crisis Resolved As Abure and Apapa Factions Unite

The Labour Party's leadership crisis has ended as factions led by Julius Abure and Lamidi Apapa reconciled to present a...

EXCLUSIVE: Nigerians To Start Using Three-In-One National Identity Card Soon EXCLUSIVE: Nigerians To Start Using Three-In-One National Identity Card Soon
News3 months ago

EXCLUSIVE: Nigerians To Start Using Three-In-One National Identity Card Soon

NIMC is set to launch a versatile three-in-one identity card for Nigerians, featuring payment capabilities and social service functionalities, following...

HND Holders From Polytechnics Must Undergo One-Year Mandatory Training - FG HND Holders From Polytechnics Must Undergo One-Year Mandatory Training - FG
Education3 months ago

HND Holders From Polytechnics Must Undergo One-Year Mandatory Training – FG

Dr. Folasade Yemi-Esan, Head of the Civil Service, has mandated HND holders to undergo a one-year training before promotion to...

EFCC Arrests Two Ex-Union Bank Employees For Stealing N4.2m From A Dead Customer's Account EFCC Arrests Two Ex-Union Bank Employees For Stealing N4.2m From A Dead Customer's Account
News3 months ago

EFCC Arrests Two Ex-Union Bank Employees For Stealing N4.2m From A Dead Customer’s Account

The EFCC arrested two former Union Bank employees in Makurdi for embezzling N4.2 million from a deceased customer's account.

Christ Embassy Church Headquarters in Lagos On Fire Christ Embassy Church Headquarters in Lagos On Fire
News3 months ago

BREAKING: Christ Embassy Church Headquarters in Lagos On Fire (Video)

The Christ Embassy Church headquarters in Ikeja, Lagos caught fire on Sunday morning.

BREAKING: Finidi George Resigns As Super Eagles Head Coach BREAKING: Finidi George Resigns As Super Eagles Head Coach
Sports4 months ago

BREAKING: Finidi George Resigns As Super Eagles Head Coach

Finidi George resigns as the head coach of the Super Eagles, following the NFF's plan to hire a foreign technical...

Tension As President Tinubu Falls, Hits Head On Parade Vehicle During Democracy Day Tension As President Tinubu Falls, Hits Head On Parade Vehicle During Democracy Day
News4 months ago

Tension As President Tinubu Falls, Hits Head On Parade Vehicle During Democracy Day (Video)

Nigerian President Bola Tinubu stumbled and fell during the June 12 Democracy Day parade, sparking renewed concerns about his health.

Democracy Day: FG Announces Date for Public Holiday Democracy Day: FG Announces Date for Public Holiday
News4 months ago

Democracy Day: FG Announces Date for Public Holiday

The Federal Government has announced June 12 as a public holiday to celebrate Democracy Day.

5 Best Video Interview Software You Should Be Using 5 Best Video Interview Software You Should Be Using
Career News4 months ago

5 Best Video Interview Software You Should Be Using

Zoom, HireVue, and Spark are some of the best video interview software. These tools enhance efficiency, improve candidate experience, and...

Advertisement