Ankocoin token, get it now



List of pos machine companyi

Pos machine companies/supplies

A POS machine on a table, a lady stand behind the table

What is pos machine device

POS is an abbreviation of Point-Of-Sale or Point-Of-Services. Pos is an electronic device develop to bridge the gap between the bank and their customers when it comes to do with the basic function's of bank. A pos machine device / application is a portable machine that allow local debit card order to make payment for goods and services. 

Pos machine company create a new small business for young people decreasing unemployment rate and change millions of live for better. They are the companies that produce a device which enable you to withdraw funds from your bank account or enable you a business owner to deduct money from a customer account to your own account . In other words, pos machine company is an organisation who developed a systems that provide you access to your bank account anytime without visiting the bank. Most organisations like He, Hotel, Bar, Boutique, Stores, use pos machine device to aide their business activities.

As times goes on, in a situation where no ATM (automobile teller machine) around or ATM is unable to dispense cash, people visit stores where pos machine is available for customers payment, pleading with the store owner to use pos machine remove funds from their credit card and give them cash. 

This is how people have been doing to get cash when they get stranded in a place where there is no bank or ATM is unable to dispense cash. until an Entrepreneur a business-minded person approach a bank to make this a real business. The requirement and procedure to get a pos machine are very cumbersome at that time.

A POS machine, ATM card

Why banks give out pos machine

1. To reliefs the load on automobile teller machine (ATM) and reduce crowd in the banking hall. 

2. To reduce the risk of carrying heavy cash to market or to bank for deposits 

3. To support the use of cashless policy. 

List of banks with best pos machine and reliable networks

Access bank 

Gt bank 

Unity bank 

Wema bank

Two hand on a paper between two laptop

How pos machine works

1. Cash withdrawal

2. Cash deposit / funds transfer  

3. Account opening

4. Utility bills payment

5. Airtime 

6. Data subscription

1. Cash withdrawal 

Every pos machine company offer withdrawal function on their device which is the process of deducting money from a bank account with the use of credit card on the pos machine company device or the use of OTP on the pos machine application

2. Cash deposit / fund transfer

This is another important service that every pos machine company offer on their machine. Funds/cash deposit is the process of collecting any amount of money from a customer and transfer the same amount of money to assign bank account by the customer

3. Account openings

Account opening is part of pos services but all pos machine company are capable of opening account for custmers. Account opening is the process of collecting valid information from a customer to generate and assign a financial digit, number or code from a bank to a customer

4. Utility bills

Utility bill is another useful service pos machine. Its a fee payment for yearly monthly or weekly service obtain by you, from a particular organizations. The bill includes; electricity bill, insurance bill, television bill etc. Some of the pos machine company didn't provide this service

5. Airtime

Airtime is a loaded token used for paying the counted  time while making or receiving a voice call. It is a wireless rate plan charging for making and receiving a voice call or text message. Airtime service is available on every pos machines

6. Data subscription

Data is a wireless rate plan used for paying the quantity and quality of web page you are able to visit on the internet. It's not all pos machine company offer data subscription

A POS machine on a table, a lady holding wine at the back of table

Benefits of pos machine company

1.) It create small business that is easy to start, because it's required little amount of capital and basic education

2.) It help reduce level of unemployment in the country; it has helped thousands of people who are jobless to become a business owner and also improve the standard of living because those who engaged in pos machine business will no longer depend on anyone, rather assist others

3.) The pos machine company assist in decreasing the rate of insecurity; the advent of pos machine company give people confidence of getting cash anywhere they go, thereby reduce the fear and risk of being robbed while working or traveling on the road with cash

4.) It make easy the payment process for goods and services; it allow you make payment for an item bought in a store, shop, restaurant or any business organisation, especially online purchases of an item

5.) Pos machine company helps Central Bank in reducing the cost and quantity of notes producing for circulation. Before now quantity of money producing by Central Bank is very large, as every business transaction involves the use of cash.

6.) Pos machine company increases government revenue; the companies producing and selling pos machine paying tax which increase government revenue 

List of pos machine company with good network and agent support

1. Opay

2. Kashzoo

3. Paga 

4. Moniepoint

5. Pay centre 

6. Itex payvice

7. Global accelerex 

8. Baxi

List of pos machine company with lower charges 

1. Opay 

2. Kashzoo

3. Moniepoint

A lady holding a POS machine, another lady inserted the ATM card

How to get money to start pos machine business

1.) Personal saving; many business-minded people save during their working life to use in setting up their own business, thousands of small businesses owner today got their capital through personal saving

2.) Borrowing from friends and relatives; by asking for assistance from friends and relatives  to borrow you some amount of money needed to start the business and promise to pay when you start making profits

3.) Donation from friends and relatives; tell people who really want to see you grow and succeed in life about your vision and why lack of money be the obstacle to execute the project, some of them can dash you money purposely to help you run the business and seeing you become great

Kinds of terminal offer by pos machine company

1.] Handy pos machine

2.] Mobile pos machine

3.] Android pos machine

List of pos machine company that offer mpos


Pay centre



FAQ about pos machine business

A man holding ATM card while working on laptop

How profitable is pos machine business?

Pos machine business is very profitable in Nigeria, you can make as much as 3000 to 5000 naira per day depend on your location

How much do I need to start a pos machine business?

The capital to start a pos machine business  can can be calculate this way; 

1.) The least pos cost 25,000 

2.) Space with table, chair etc might also cost 35,000 depend on your location

3.) Working capital should be at least 100,000 making total of 160,000 naira. Therefore the amount to start pos business is between 150,000 to 200,000 thousand naira

How do pos machine company makes money?

Pos machine company makes money from the sales of pos device and charged on certain transaction carrying out on their device, while the pos business owner (Agent) make money by charging the customer base on the transaction perform on their behalf. For example, if a customer comes to you for cash withdrawal you need to tell him that amount is going to pay for the withdrawal processing and make sure the amount you charged is more than amount charged by the terminal. Some other service on pos give little commission. E.g cable TV service, recharge card, etc

A lady working on a laptop

Can pos machine check account balance?

Yes. The latest improvement in technology enable pos machine company to develop a pos device that allow customers to check their account balance. One of the pos machine company that allows customer to check balance is moniepoint pos machine

Sometimes some customer will tell you that, they are not with their ATM card and they want to get cash from you by transferring fund into your bank account. To recognise if the alert you got is fake,  How do I recognise fake alert from customers?

1. Firstly check the alert to make sure that your previous balance is increased with the amount the customer claim he or she is transferred into your account, scammer can't guess the exact amount in your account. for example if you have 10,000 in your account and a customer transfer 2,000 to your account, your total balance must be 12,000 

2. Secondly in a situation whereby your bank is taking much time to alert you, and customer is showing you his own debit alert, then  open your bank application on your phone and refresh it,  your balance must be updated plus the amount transfer to you. Also ask your customer to open his bank application for you to if truly he send money to you 

3. Thirdly, maybe the network is not good to open your bank application and you're unable to receive sms alert, then you can use your bank USSD code to check the balance. Although this method can cost you little like 10-15 naira depends on the bank you're using. Therefore you don't need to mind the amount (10-15 naira) you're going to loose in using this method as it's better than you being scam

Pos machine device which is also know as payment terminal / credit card terminal is one of the most lucrative small businesses in Nigeria. To start a pos machine business... Check simple guide to start a POS businessHow do I start a pos machine business?

Post a Comment