Welcome to another exciting edition of POS business, In this guide, you will discover how to get Money Point POS in Nigeria, as well as become a Moniepoint agent in Nigeria.
In recent articles, we have discussed so much about POS machines such as; becoming a GTbank and Zenith Bank POS agent in Nigeria. However, this guide will be brief and strictly on MoneyPoint POS.
About MoniePoint
MoniePoint is a Mobile Money merchant that uses Point of Sale (POS) machines as their main device for collection and other transactions.
The platform works Similarly to OPay, Access Closa, and UBA Moni.
MoniePoint provides a transaction channel platform that gives you access to multiple transactions on the go. Basically, this includes mobile apps, POS, and SmartPOS, profiting both customers and Moniepoint agents.
Today, the POS business is one promising daily income business to start up, as it could be done with little or no capital, and it is also one of the most profitable.
Among other POS service providers in Nigeria; Moniepoint POS seems to provide one of the best services for on-the-go transactions today.
With Moniepoint, you can carry out financial transactions such as;
- Transfers
- Withdrawal
- CableTV Subscriptions
- Airtime purchases
Again, MoneyPoint POS is regarded as one of the best POS service providers with the most efficient network service for day-to-day transactions.
How To Register & Become a Moniepoint Agent in Nigeria
Follow his guide to register and become a Moneypoint Agent in Nigeria.
- Visit the Nearest Moneypoint office at your location
- Contact an agent at their office upon reaching there
- Collect, fill and submit the registration form
However, if you wish to carry out the registration without going to their office for assistance
- Visit their official website at MoneyPoint
- Fill out the registration form for Moniepoint agents and submit
- Confirm your email address and phone number and an agent will reach out to you after 48 hours of registration
- An agent would guide you on what you need to do, and after that; you will be confirmed as an agent,
- Login to the Moniepoint POS dashboard to manage your account
Read Also: How to Import Goods from Turkey to Nigeria
Documents Needed To Become A MoniePoint POS Agent
Kindly keep in mind that your registration as a MoneyPoin agent will never be successful if you fail to have these documents below;
- A business certified by CAC
- Bank verification number (BVN)
- House PHCN bill for address confirmation
- Your bank account number
- Identity card; National ID, Voters card, International passport, or Drivers Licence
Read Also: How to Become an OPay Agent in Nigeria
How To Get Money Point POS Machine (Terminal) in Nigeria
Obviously, the whole idea of becoming a MoneyPoint POS agent is to get a POS machine to be able to effectively carry out your POS business.
As explained earlier, once you have registered on the Money Point website and on completing and approval of your registration; you will be given a Moniepoint POS terminal for your business.
How Long Does It Take To Get a Moniepoint POS Machine?
Once your registration is done, You should be able to get your device within 48 hours (depending on your location)
How Much Is Moniepoint POS Machine?
Money Point POS Machine costs about N25,000, which is cheaper than POS machines from other service providers. Also, note that you should only apply for Moniepoint POS machines in an approved centre.
Monie Point Mobile App
Once you are confirmed as an agent, it is important to have access to the Money Point App. This mobile App will enable you to carry out seamless transactions.
Download the Money Point App from PlayStore.
Caution should be taken when downloading and using this App because there are fake Apps lingering around.
Monie Point Transaction Charges
Here is where the real deal comes in.
Compared to other POS facilitators, Moniepoint’s transaction charges are really low, and arguably the cheapest.
Basically, the charges are based on the number of transactions you carry out and not depend on the bank unlike other POS services do. This fixed charge stands at ₦20 for all banks in Nigeria.
Also, withdrawal charges up to ₦4,000 is ₦6.2, although it increases as the amount withdrawn increases.
Conclusively, Moniepoint does not charge any extra bank fees, unlike many other POS service providers in Nigeria.
Moniepoint POS Commission For Bill Payments
As an agent, you sad to enjoy the following commissions from bill payments
Data Top-Up
MTN 3% Commission
GLO 4% Commission
9Mobile 4.5% Commission
Airtel 4% Commission
TV Subscriptions
DSTV 2% Commission
GOTV 2% Commission
PHCN 2% Commission
Star Times 2% Commission
Withdrawal Rules
As an agent of Money Point, you should try by all means to adhere to the following rules
- Minimum of ₦80,000 (Eighty Thousand Naira only) daily withdrawal value.
- You are to have at least 4 counts of deposits per day
- You will get 50% cashback of the ₦20,000 paid during registration if an aggregator has any cause to withdraw your POS device within a year of issuance.
How To Solve Monie Point Transaction Limits
Moneypoint agents who fail to upgrade to a business account will have transaction limits
As a non-business agent, you will observe an error like; “the transaction exceeds the daily transaction limit”, because you have hit the maximum you can transfer at default KYC.
Therefore, at that point, all you need to do is upgrade your KYC level to a business and they will remove the limit.
Below is how you can upgrade to the KYC business level:
- Login to your Moniepoint account and navigate to the KYC level
- Scroll to your dashboard, click the menu, and select settings
- Select upgrade from the menu that drops down and that is all
Lastly, if you have issues upgrading, kindly visit any Money Point office near you.
Monie Point POS Office in Lagos
If you are a Lagosian, below is where you can contact money point
Office Address: No. 2 Wole Ariyo St, Lekki Phase 1, Lagos, Nigeria.
Phone: +234 814 150 0017 (Whatsapp only)
Email: support@moniepoint.com
- Read Also: How To Become GTBank POS Agent
Conclusion: How To Register & Get Moniepoint POS in Nigeria
In conclusion; Money Point offers one of the best POS services in Nigeria. If you are looking forward to starting a POS business or becoming an agent with any of these service providers, you shouldn’t panic going for Moneypoint.
Lastly, I hope this guide has helped you understand Monepoint POS registration and How to get Money Point POS in Nigeria.
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Legacy Benjamin is an experienced content writer with a half-decade of experience in the field of blogging. He is also a skilled business consultant, providing valuable insights to companies and individuals seeking growth and success. His expertise lies in crafting compelling and engaging content that captivates audiences and drives business results. For business deals, contact him