Last Updated on September 13, 2023
If you’re looking to boost your business in Nigeria, you’ve probably considered getting a Point of Sale (POS) machine and are interested in knowing the POS Machine price in Nigeria. And guess what? You’re on the right track! In this guide, we’ll reveal the list of the cheapest POS machine prices in Nigeria and how to get a POS machine in Nigeria. Then read on to find out.
No more waiting for customers to scramble for cash, no more worries about “cash-only” signs turning them away. With a POS machine, you’re about to revolutionize your business. From small corner shops to bustling markets and swanky restaurants, a POS machine can level up any venture
But we’re not stopping at just any POS machine. We’re talking affordable options that won’t break the bank. In this guide, we’ve done the legwork to help you find the perfect POS machine for your business without draining your finances. So, if you’re ready to say goodbye to cash problems and hello to smoother transactions, keep reading. We’re about to show you how to get the best bang for your buck and boost your business with the cheapest POS machines in Nigeria!
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POS machines or Point-of-sale terminals have become popular in Nigeria, as banks and ATM machines are usually stressful for people who want to perform banking transactions.
POS machines allow people to perform banking transactions without having to go to the bank and also allow small businesses and merchants to make money by helping perform these transactions and getting a commission for their troubles.
If you want to start a POS Business in Nigeria, then you need to acquire a POS machine. While there are companies that offer free POS machines like Opay & Kudi, it can be quite a stressful process. So some people would rather just buy these POS machines outright.
That’s why people like you want to find out the different POS Machine prices in Nigeria so they can choose the option that’s most suitable for them.
There are a lot of POS dealers in Nigeria where you can get a POS machine from. However, the POS machine prices in Nigeria are different for different POS dealers as these machines are of different quality and features.
You can even get second-hand POS machines in Nigeria if that is what you are looking for.
POS Companies & Their POS Machine Prices in Nigeria
It is important to note that POS machine prices in Nigeria can change like any other products and services. Another thing to note is that you can’t just buy a POS machine in Nigeria and start using it without first registering as a POS agent (mobile money agent) because it might be considered illegal.
A mobile money agent is someone who is licensed to carry out money and banking transactions like bill payments, airtime purchases, and money withdrawals and deposits by a financial institution.
Before you go ahead to purchase a POS machine, it is best to know how it works, its transaction charges, and even the price of the POS machine itself.
You can get a POS machine from Nigerian banks and from other fintech companies in Nigeria
Here’s a list of the different brands of POS machine prices in Nigeria.
Opay POS Machine Price in Nigeria
The Opay Mini POS Machine price is N8,500 Naira while the traditional Opay POS machine costs N35,000. For the Opay Android POS Machine, the price is N50,000.
Palmpay POS Machine Price in Nigeria
The PalmPay POS machine price in Nigeria is N30,000 Naira.
Kudi POS Machine Price
For those interested in the Kudi POS Machine, it costs N35,000 Naira. Kudi is now Nomba.
Moniepoint POS Machine Price
The Moniepoint POS Machine cost about N10,000.
Baxi POS Machine Price
The Baxi MPOS (Mobile POS) price is N10,000, while the Baxi Android POS cost about N30,000.
Accelerex POS Machine Price
The Accelerex POS machine price in Nigeria is N10,000.
Payvice POS Machine Price
The Payvice POS machine price in Nigeria is N15,000.
Pay Center POS Machine Price
The Pay centre POS machine price in Nigeria is N15,000.
Payforce POS Machine Price
The Pay centre POS machine price in Nigeria is N25,000.
How much is POS Machine on Jumia
There are different types of POS machines on Jumia, which means their prices will be different based on their quality and features.
The prices of POS machines you can get on Jumia are from N50,000 to N150,000.
How Much Is POS Machine On Jiji?
You can get some of the cheapest t POS machines in Nigeria on Jiji. You can get used or new POS machines on this online shopping platform in Nigeria The POS machine prices on Jiji range from N20,000 to N150,000 depending on the quality and features that you prefer.
Other POS Machine Prices In Nigeria
You must remember that you can get a free POS machine in Nigeria, however, there are some cons. You won’t outrightly own the POS terminal.
Here are other not-so-popular POS machine prices in Nigeria:
- ECOSA POS (N25,000)
- Surebanka POS (N10,000)
- Flutterwave POS (N10,000)
- Dot pay POS terminal machine (N30,000)
- Pax POS machine (N40,000)
- Nexgo G2 POS machine (N43,000)
- Dataway POS Machine (N15,000)
You can also consider POS machine dealers in Nigeria if you want to get POS terminal without going through a Nigerian bank or other popular financial institutions offering POS services.
Here are some POS terminal dealers in Nigeria :
- Elite ShieldPro (located at 2 Cmd Road, Ikosi Ketu, Magodo, Kosofe, Lagos, Nigeria)
- BFM Consulting (located at 36B, second floor, Toyin street, Ikeja, Lagos)
- AOG Consulting (Located at Adebowale House, Block C, First Floor, 150, Ikorodu Road, Onipanu, Lagos, Nigeria).
- Boromax Global Limited ( located at 12, Simbiat Abiola way, Computer Village, Ikeja, Lagos Nigeria)
- Citiserve limited (located at 368, Ikorodu Road, Maryland, Ikeja, Lagos Nigeria)
- Neo High Tech Solutions LTD (located at 62B, Opebi Road, Ikeja, Lagos Nigeria)
- Wamcom Associates ( located bat 5, Medical Road, Computer Village Ikeja, Lagos Nigeria)
- E-Print Solutions ( located at E31/01, Arena Shopping Complex, Bolade, Oshodi-Isolo, Lagos Nigeria)
POS Charges List in Nigeria
When starting a POS agent business in Nigeria, it is important you consider the POS charges, if you want to make enough profit. So it makes more sense to use a POS terminal with low commission charges.
Here’s a list of POS charges in Nigeria, so you can make a suitable choice:
- Bankly POS Machine charges 0.3% on every withdrawal and a flat rate of N35 on all transfers)
- Moniepoint POS Machine charges 0.5% of the transaction amount. For transactions above N20,000 Naira and a flat rate charge of N20 for transfers
- Kolomoni POS Machine charges 0.5% on withdrawals from N1000 to N19, 900. N30 fee for transfer of N2000 and above.
- Opay POS Machine charges 0.6% for withdrawals below N20,000 and a flat rate charge of N120 for withdrawals from N20,000 above.
- Kudi POS Machine Charges N25 for transactions from 100 – 4,500; Charges 0.6% for every transaction between 4,501 and 25,000. And a flat rate of N150 for transactions above N500,000, and a N150 Naira flat fee for transactions above 500,000 Naira.
- GTBank POS Machine charges are 0.75 per transaction.
- Palmpay POS withdrawal charge is 0.5% on withdrawal transactions. For deposits, Palpay charges a fixed fee of N10 naira regardless of the amount being deposited.
- Payforce POS Charges for Deposit: N25, while withdrawals charges; (0- ₦5000) = N30, (₦5,001- ₦16,500) = 0.6%, (₦16,501- ₦100,000) = N110, (₦100,001 and above) = 0.11%.
- Kudi POS Charges Withdrawal are; (below ₦4500) = ₦25, (₦4,501- ₦25k) = 0.6%, (Above ₦25k) = ₦150, while Transfer charges cost ₦45.
- Paycentre POS Charges on Withdrawals are: (0 to ₦10,000) = 0.55%, (N10,001 to ₦15,000) = N65, (₦15,001 to ₦20,000) = ₦75, (₦20,000 Above) = ₦80. While charges for transfers: (0 – ₦5,000) = ₦10.5, (₦5,001-₦50,000) = ₦26.25 , (₦50,000 and above)=₦50.00.
- Kashzoo POS Charges for Withdrawals are ₦1,000 to ₦5,000 are charged at ₦30, ₦5,001 to ₦10,000 are charged at ₦45, ₦10,001 to ₦20,000 are charged at ₦76, ₦20,001 to ₦40,000 are charged at ₦85, ₦40,001 to ₦100,000 are charged at ₦110, ₦100,001 to ₦200,000 are charged at ₦150
- Kolomoni POS Charges are 0.5% for withdrawal from ₦1000 – ₦19900, and POS charges are ₦30 for Deposits 100 Naira flat from 2000 Naira and above.
Why Buy a POS Machine?
The benefits of POS machines are far beyond helping businesses accept payments without the need for cash. it added a new layer for businesses or anyone (POS agents) to make money by being a mini bank or mini-atm for communities because of their ease of use and the ability for instant payment confirmations.
With a POS machine, you can start a daily income business in Nigeria where you make money every day.
Best POS Machines In Nigeria
There are now many types of POS machines in Nigeria, but the best POS terminals have the best networks, customer care, and charge rates are:
- Opay POS machine
- Kudi POS machine
- Moniepoint POS machine
- Baxi POS machine
- GTBank POS machine
Cheapest POS Charges In Nigeria
Different POS companies have different charges, but here’s a list of the cheapest POS charges in Nigeria:
- Bankly POS Machine charges 0.3% on every withdrawal and a flat rate of N35 on all transfers.
- Moniepoint POS Machine charges 0.5% of the transaction amount. For transactions above 20,000 Naira and a flat rate charge of N20 for transfers.
- Kolomoni POS Machine (charges 0.5% on withdrawals from N1000 to N19, 900. N30 fee for transfer of N2000 and above)
- Opay POS Machine (charges 0.6% for withdrawals below N20,000 and a flat rate charge of N120 for withdrawals from N20,000 above)
- Kudi POS Machine (Charges N25 for transactions from 100 – 4,500; Charges 0.6% for every transaction between 4,501 and 25,000. And a flat rate of N150 for transactions above N500,000; and charge N150 flat fee from above 500,000 Naira).
- GTBank POS Machine (Charges 0.75 as POS routine maintenance).