The POS System enables you to Manage, Store Inventory and Staff, Accept payments, and Fund your Bank Account. POS Business opportunities have afforded millions of Nigerians a means of earning a decent income to sustain their families. This is a result of the introduction of the agent banking system in 2013 by the Central Bank of Nigeria.
Cost to Start up a POS Business in Nigeria
Unlike other Business Factors, The POS Business does not require much initial capital for a start up, to get started, you will only need to have at least a minimum of N50,000.And the Business Doesn`t need a nice or dexpensive shop, However that makes the Expenses lesser and Affordable for those that wants to start up the business and also bear it in mind that you can join your POS Business with other Business factors.
Is POS Business Profitable in Nigeria?
The answer is Yes, POS Business is very profitable in nigeria, Unlike other business factors, Due to the lack of Access to Bank in Rural Communities, A person or persons Doing The POS Business is likely to be Rich if Situated in Trust Locals.The best Banks for POS in Nigeria are GTBank, Access Bank, WEMA Bank, First Bank, UBA and others too numerous to mention.
Best Banks For POS Business in Nigeria
Below are the lists of the POS Agent Banking Platforms in Nigeria;
1. MoniePoint- Withdrawal;0.5% (N1,000-N19,900), 100 Naira flat for (N20k-N1,000,000)Deposit 12 Naira
2. Opay- Withdrawal 0.5% (N1000 and below) N4.6 (N20,000 and above) Deposit;N1000 to N5000 = N75 (10,000 and above)=N22.5
4. Nomba(Formerly Kudi)- Withdrawal; (Below N4500)=N25; (N4500 – N25,000)=N150 Transfer;N45.
5. Palmpay- Withdraw, N5 on each N1000, Transfer=N20
6. Baxibox-Cash deposit=N30, Cash transaction=N100 flat rate (N20,000-N100,000)
8. Quickteller Point
9. Access Closa
10. GT Express
11. First Monie- Deposit N50 for (N5,000 and below) Transfer N100 for (N30,000 and below) Cash withdrawal N100 for (10,000 and below)
12. UBA Monie
13. Zenith Bank Agent Banking
14. Surepadi Agency Banking
15. Union Direct
16. FCMB Agent Banking Service
17. Eco Bank Express Point
18. Heritage Bank Cornershop Agency Banking
19. Keyserv Agency Banking Service
20. Stanbic IBTC @ Ease Agency Banking Services
The Available Services in The POS Business
1. Account Opening
2. Cash Withdrawal
3. Inter-Bank Transfers
4. Cash Deposit
5. Bills Payments
6. Funds Transfers
7. Airtime Purchase/Recharge
8. Instant Card Issuance
9. BVN Enrollment
10. Change of Pin
I believe that after reading all these you understand well what the POS Business is all about and also the Banks that You can be their Agent in case you want to join the Business and also the services available on it.