List of POS machines, prices in Nigeria, and their requirements
26
- July
2021
Posted By : Tope1
List of POS machines, prices in Nigeria, and their requirements

In this article, i will be showing you the various POS machines, their prices, and the requirements for each one of them

There are hundreds of POS companies in Nigeria. Some of them are Mobile money operators (MMOs) like Opay, Moniepoint, Kudi, Palmpay, NowNow, Baxi, Bankly, Flutterwave and others, some of them are individual companies while others are banks.

Below is POS prices and requirements in Nigeria

S/NPOS NAMEPRICE (N)Requirement
1Opay miniN8,500 Valid ID card, Nepa bill and passport. Read full details HERE
2Opay traditional N35,000 Valid ID card, Nepa bill and passport. Read full details HERE
3Opay Android/SmartN50,000 Valid ID card, Nepa bill and passport. Read full details HERE
4Moniepoint POSN10,000Valid ID card, Nepa bill and passport. Read full details HERE
5kudi POSN20,000 Valid ID card, NIN,Nepa bill and passport. Read full details HERE
6Palmpay N20,000 Valid ID card, Nepa bill and passport. Read full details HERE
7Baxi mposN10,000 Valid ID card, Nepa bill and passport. Read full details HERE
8Baxi android N30,000 Valid ID card, Nepa bill and passport. Read full details HERE
9FlutterwaveN10,000 Valid ID card, Nepa bill and passport. Read full details HERE
10Bankly POSFREE Valid ID card, Nepa bill and passport. Read full details HERE
11Paycentre N14,000 Valid ID card, Nepa bill and passport. Read full details HERE
12SurebankaN10,000 Valid ID card, Nepa bill and passport. Read full details HERE
13Accelerex POSN10,000 Valid ID card, Nepa bill and passport. Read full details HERE
14NowNow Valid ID card, Nepa bill and passport. Read full details HERE
15Firstmonie POS (By First bank) FREE Valid ID card, Nepa bill and passport. Read full details HERE
16Surepadi POS (By Polaris bank) FREE Valid ID card, Nepa bill and passport, plus a current account with the bank.
17Zenith Bank POS FREE Valid ID card, Nepa bill and passport, plus a current account with the bank.
18Access Closa (By Access bank) FREE Valid ID card, Nepa bill and passport, plus a current account with the bank.
19UBA POS FREE Valid ID card, Nepa bill and passport, plus a current account with the bank.
20Union Bank POS FREE Valid ID card, Nepa bill and passport, plus a current account with the bank.
21Heritage Bank POS FREE Valid ID card, Nepa bill and passport, plus a current account with the bank.
22Stanbic Bank POS FREE Valid ID card, Nepa bill and passport, plus a current account with the bank.
23GTBank POS FREE Valid ID card, Nepa bill and passport, plus a current account with the bank.
24Itex POS Valid ID card, Nepa bill and passport
25ECOSA POSN25,000 Valid ID card, Nepa bill and passport
26Wema Bank POSFREE Valid ID card, Nepa bill and passport, plus a current account with the bank.

What are the differences between Bank POS and other POS?

The difference between bank POS and other POS is that the charges on bank POS is usually more expensive than that of other POS like Opay, Moniepoint, Kudi and others.

Another difference is that most bank POS usually charge customer’s accounts and they also pay their agent’s commission at the end of the month instantly as other MMOs do.

Also, the requirement for getting bank POS is usually strict and involves opening a current account and other requirements and usually takes longer to get.

How much does it cost to get a POS from Bank?

it is FREE to get a POS machine from any bank in Nigeria.

How long does it take to get a POS from Bank?

It takes 1 week to 3 months to get a POS from any bank in Nigeria. This is due to the various processes and requirements involved. this includes providing 2 guarantors that have current accounts, bank staff visiting your location, opening a current account with the bank, and lots more

What do you need to get a POS from a Bank?

The following are what you need to get a POS from any bank, including first bank, Access bank, Polaris bank, UBA and others

  1. Valid ID card (either voter’s card, National ID card, International passport, and driver’s license)
  2. 2 to 4 passport photograph
  3. Recent utility bill (either of Nepa bill, waste management receipt, water bill or any other valid bill that shows your address)
  4. Current account with your bank

Other requirements you need to get POS from a bank

  1. 2 guarantors (that have current account with any bank in Nigeria)
  2. A physical address for the business

How do i get POS from bank?

To get a POS from any bank in Nigeria, walk into any local branch and ask for an Account officer or Operations manager, and ask that you want to get a POS machine from them. They will inform you of what you need to do to get it (which are the things i have stated above).

Which bank POS Is the best?

The best bank POS is first bank POS, zenith bank POS, and Access bank POS. Though each bank has its own disadvantage, but those are the best for bank pos. it is better to get a POS from MMOs like Opay, Moniepoint, Kudi, and others as they are more reliable than bank POS.

Conclusion

Hope I have been able to answer all your questions as regards POS prices and requirements in Nigeria. In case you have any further question, please leave it in the comment box below and i will definitely answer or chat me on whatsapp on 08101409501 <<<<CLICK HERE TO CHAT ME ON WHATSAPP>>>>

Here are some alternative POS you can get instead of Bank POS

Opay POS (Get it fast and other details)

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