POS machines in Nigeria are making it easier for businesses to operate in an ever-changing financial landscape. These point-of-sale devices are designed for merchants that want to go cashless with their customers.
Using a POS machine allows a business to accept payment with debit and credit cards, transfers and other financial services without cash. In a bid to encourage a cashless economy, the Central Bank of Nigeria has made it compulsory for businesses, big and small, to have POS machines.
The increasing use of POS machines in Nigeria is becoming more popular as Nigerian people are taking to electronic payment. These devices do not only assist in performing these transactions but help businesses keep track of their daily sales, minimize human error, and improve overall customer satisfaction.
There are different kinds and configurations of POS machines which are made for different uses. The range of POS machines in Nigeria, from classic terminals to contemporary Android devices, is perfect for both startups and established businesses.
By 2025, you will find POS machines everywhere. Their technology will be improved, and they will be designed to speed up transactions.
The full meaning of POS machine – Point of Sale machine – actually refers to where your customers end their purchases. With the digitalization of Nigeria, POS machines will continue to shape the retail and service industries.
Types of POS Machines Available in Nigeria
It is important to understand the different POS machines in Nigeria before making a choice. Each type of POS terminal has a different feature or benefit that supports certain businesses.
Traditional POS Terminals
In Nigeria, traditional POS terminals are the regular type of POS terminals that have been around for years. These devices typically come with:
- Built-in receipt printers
- Physical keypads for PIN entry
- Basic transaction processing capabilities
- Reliable connectivity options (GSM, Wi-Fi)
- Longer battery life compared to newer models
These traditional POS terminals are fitting for businesses that need reliable, simple payment processing without any excess. Many banks and established POS providers in Nigeria still offer these terminals as the mainstream option.
Android POS Machines
The next-generation POS machines for payment in Nigeria are called Android POS. These advanced devices merge mobile phone functionality with payment processing to offer:
- Touch screen interfaces
- App installation capabilities
- Multiple connectivity options
- Inventory management features
- Customer relationship management tools
- Enhanced reporting capabilities
The cost of an Android POS in Nigeria is usually higher than that of regular terminals because of the advanced features. Nonetheless, a lot of businesses opt for it because of the added functionality. These systems are suitable for business which requires payment processing along with other business management activities.
Small/Mini POS Machines
Small POS machines have become very popular among small business owners and mobile merchants to use for transaction. These compact devices offer:
- Portable, lightweight design
- Basic transaction processing
- Affordability for startups and small businesses
- Simplified setup and operation
- Lower maintenance requirements
The price of small POS machines in Nigeria makes them accessible entry points for new entrepreneurs. Portable solutions that require little space or set up are useful to market vendors, delivery services and small retail shops.
POS Machine Providers in Nigeria 2025
The Nigerian POS machine market is populated by some big-time players that offer impressive benefits at varying prices. By understanding the major players in this market, businesses can select the best partner for their use.
Moniepoint POS
Moniepoint POS machines are very popular in Nigeria as they are reliable and have a lot of services to offer. Formerly known as TeamApt, Moniepoint provides:
- User-friendly interfaces
- Competitive transaction rates
- Robust customer support
- Regular software updates
- Multiple device options (Android and traditional)
The Moniepoint POS machine has been branded as one that works seamlessly and has a wide network of agents meaning it can be found in semi-urban and rural spots as well. Along with payment, they also offer money transfer, bill payment and other services.
OPay POS
Over the course of a few years, OPay has established itself as a dominating fintech in the Nigeria space and the POS machines from OPay have been widely adopted. OPay POS machines offer:
- Competitive pricing structures
- Fast settlement times
- Multiple device types (Smart, Traditional, Mini)
- Integration with the broader OPay ecosystem
- Attractive commission structures for agents
In Nigeria, the cost of an OPay POS machine is often reasonable. This makes it an appealing option for new agents and small businesses. They focus on user experience and agent support which helped their growing market share.
GTBank POS
GTBank, a popular Nigerian bank offers POS machines under its business banking offerings. GTBank POS terminals feature:
- Bank-backed security and reliability
- Integration with GTBank accounts
- Established support infrastructure
- Preferential rates for existing customers
- Multiple terminal options
Getting a GTBank POS machine is an easy procedure to carry out by existing customers. Sometimes other customers might get other terms. The POS solution provided by the bank is appealing to businesses because the particular bank is known for technology.
POS Machine Cost in Nigeria: A Comprehensive Comparison
The cost of getting and using a POS machine in Nigeria can be wide-ranging depending on the provider, device type, and other things. It’s essential for any business to get these figures right so they can budget.
Moniepoint POS Machine Price and Charges
Moniepoint has variety of POS machines at different prices:
- Traditional Moniepoint POS: ₦24,000 – ₦30,000
- Moniepoint Android POS Price is ₦35,000 – ₦45,000
- Cost of Moniepoint Mini POS: ₦15,000 to ₦20,000
Additional Moniepoint charges include:
- Transaction fees are 0.5% to 1.5% depending on type
- Settlement charges: Usually free for normal settlements
- Most of the time, the account has zero or minimum maintenance
The cost of the Moniepoint POS machine in Nigeria may vary based on promotions or discounts available for larger merchants.
OPay POS Machine Price List
OPay’s prices for various types of POS machines:
- OPay traditional POS price is ₦20,000 to ₦25,000
- The price for OPay Smart POS is ₦30,000 – ₦40,000
- OPay Mini POS price is ₦13,000 – ₦18,000
The cost of the OPay POS machine in Nigeria includes a startup onboarding and training. Based on transaction type and volume, charges range between 0.5% and 1.5%.
GTBank POS Pricing
GTBank offers competitive pricing for its POS terminals:
- Standard GTBank POS Device: Price Range Of ₦20,000 – ₦30,000
- Advanced GTBank POS costs between ₦35,000 – ₦45,000
GTBank often has offers where existing customers can get POS machines at discounts or cheaper transaction rate structures. To apply for a GTBank POS machine, your business account will be verified and credit will be checked.
Jumia POS Machine Prices
Jumia offers POS solutions at different rates for businesses seeking e-commerce integration:
- Basic Jumia POS: ₦18,000 – ₦25,000
- Premium Jumia POS for e-commerce: ₦30,000 – ₦40,000
The price of Jumia POS machine depends on its type and features, ranging from basic to advanced POS. Due to Jumia sale discounts, you may not spend the full price on POS.
Factors Affecting POS Machine Costs
Many factors affect the price of a POS machine in Nigeria:
- Device capabilities and features
- Provider reputation and reliability
- Settlement timeframes
- Transaction volume commitments
- Maintenance and support packages
- Warranty periods and terms
The total cost of ownership of the POS machine includes the initial purchase price, as well as subsequent fees.
A Step-by-Step Guide On How To Get A POS Machine In Nigeria
One can follow a few steps with varying requirements from a vendor to acquire POS machine. By understanding these processes you can easily apply and setup.
General Application Process for POS Machines
In Nigeria, obtaining a POS machine usually involves a standard process:
- Business registration or documentation
- Bank account verification
- Proof of physical business location
- Valid identification documents
- Application form completion
- Payment of required fees
- Training and device setup
These materials allow POS providers to ascertain the legitimacy of companies applying for their services.
How to Apply for a Moniepoint POS Machine
The process of registering for Moniepoint POS involves several steps:
- Visit the Moniepoint website or a physical agent location
- Complete the Moniepoint POS registration form
- Hand over essential papers (business registration, identity status, utility status)
- Pay the Moniepoint POS registration fee
- Complete verification process
- Receive training on device operation
- Collect your POS machine
Moniepoint POS registration requirements generally include:
- You need to provide a government-accepted identification and proof of your residential address
- Passport photograph
- Active bank account details
- Initial deposit amount (varies)
You can register for the Moniepoint POS registration online via their website if you are tech-savvy.
How to Get GTBank POS
To apply for a GTBank POS machine, follow these steps:
- Maintain an active GTBank business account
- Go to your branch or apply on the GTBank website
- Submit business documentation and identification
- Complete the POS application form
- Meet minimum balance requirements
- Undergo credit evaluation (if applicable)
- Pay applicable fees
- Receive installation and training
If you already have your business account with GTBank and you maintain a good account, then you may be offered better terms.
How to Get OPay POS
The process to acquire an OPay POS includes:
- Download the OPay app and register an account
- Select “Become an Agent” option
- Complete the application form
- Submit required documentation
- Pay the security deposit
- Complete verification process
- Receive POS machine and training
OPay often offers a fast-track option for applicants who qualify. For example, applicants who already own a business, or have been referred by an existing agent.
Operating Your POS Machine: A Beginner’s Guide
To operate your POS machine successfully, you need to know some basics questions, limits and techniques. Understanding the basics of POS machines can damage customers operations.
How to Use and Operate a POS Machine
Basic POS machine operation involves several key steps:
- Power on the device using the power button
- Ensure proper network connectivity
- Enter the transaction amount
- Choose what the cardholders want to do (buy, transfer, bill payment)
- Ask the customer to insert, swipe, or tap their card
- Let the customer enter their PIN when prompted
- Wait for transaction approval
- Print receipt (if applicable)
- Complete the transaction
Knowing how to utilize a POS machine helps avoid mistakes and provide efficient service to the customers.
Understanding Transaction Limits and Charges
POS machines normally have transaction limits and fees which operators should understand:
- The daily limit for Moniepoint POS generally lies between ₦500,000 and ₦5,000,000 depending on agent tier
- Depending on the agent level and transaction type, OPay POS has limits
- GTBank POS limits are as per the banking limits
Moniepoint POS charges vary based on transaction amount. These charges could be as low as 0.5% and as high as 1.5%. Understanding these limits and charges helps businesses plan their operations and manage customer expectations.
Troubleshooting Common POS Machine Issues
Common POS machine problems and solutions include:
- If your mobile network is weak, restart your device, or try using a different network
- Make sure to charge battery regularly and not let it get completely discharged
- Printer problems: Check that it has enough paper
- Check the network-related issues, insufficient fund issues and card validity
- If the system hangs, do a soft-reset. If still hangs then contact customer support
Thanks to these troubleshooting techniques, systems will be up and running without losing customers.
Things to Consider When Starting a POS Business in Nigeria
Operating a point of sale business can be a rewarding entrepreneurial pursuit in Nigeria. Learning important things about this business helps to earn more money.
Moniepoint POS Daily Targets
Moniepoint POS agents generally operate with daily transactions targets that affect commissions:
- Entry agents: daily transactions that total ₦300,000 – ₦500,000
- Mid-range agents: ₦500,000 – ₦1,000,000 daily business
- Premium agents: ₦1,000,000+ daily transactions
Hitting or surpassing these Moniepoint POS daily targets can boost commission percentages and unlock other benefits or promotions from the provider.
Options for Moniepoint POS Without Targets
If you don’t want to go through targets, there are options for Moniepoint POS:
- Fixed commission structure regardless of volume
- Higher initial investment but lower performance pressure
- Reduced benefits compared to target-based accounts
- Greater operational flexibility
These Moniepoint POS without target options are suitable for operators who do not work full time and operate in low traffic areas.
Benefits of Becoming a POS Agent
The advantages of operating a POS business include:
- Steady income through transaction commissions
- Low startup costs compared to many other businesses
- Flexible working hours and locations
- Other revenue streams (transfer, bill payment, airtime)
- Growing market with increasing cashless transactions
- Minimal inventory management
- Potential for scaling with multiple devices
To help entrepreneurs know what it is beneficial to use Moniepoint POS or rather other providers to enter this business.
How to Become a Moniepoint POS Agent
- Research and understand the commission structure
- Be the required age and have the right documents in the right location
- Complete the application process
- Pay required fees and deposits
- Receive training on operations and compliance
- Develop a business plan and location strategy
- Market your services to potential customers
Successful Moniepoint agents combine good location strategy with having excellent customer service.
Best POS Machines for Small Businesses in Nigeria
Small businesses will require a POS solution that is affordable, reliable, and does the basics without any fluff.
Best POS machines for small businesses in Nigeria include options that are affordable, reliable and essential yet simple.
- The Moniepoint Mini POS is best used for a small business that receives moderate transactions. It is reliable and not too expensive.
- If your business requires extra capabilities such as inventory management, choose OPay Smart POS.
- GTBank Small Business POS: Suitable for businesses already banking with GTBank seeking integrated financial services.
- Paga POS: Good for businesses that need wide compatibility.
- Baxi POS is the best option for businesses in areas with strong agent presence.
These options can offer a good mix of price, features and reliability.
Features Comparison: Moniepoint vs OPay vs GTBank
When comparing the major providers:
- Moniepoint excels in reliability and agent support
- OPay offers competitive pricing and fast settlement
- GTBank offers security and perks for existing customers
In Nigeria, the cost of the mini POS device is most affordable with OPay, while Moniepoint has the most complete support ecosystem. GTBank offers the best link with regular banking.
Why Small Businesses Need POS Machines
POS machines have several important benefits for small businesses:
- Expanded payment options for customers
- Reduced risk associated with cash handling
- Automatic record-keeping for sales transactions
- Professional business image
- Potential for increased sales through payment flexibility
- Integration with other business systems
- Access to financial services ecosystem
Even very small operations can benefit from the advantages of a POS machine.
POS Machine Charges and Commissions in Nigeria
By deciphering the total fees and commission setups of different POS service providers, you can optimize your earning potential.
Moniepoint POS Charges: Full Breakdown
Moniepoint POS charges include:
- Withdrawal Fee: 0.5% of Transaction Amount
- Transfer charge will range between ₦100 and ₦200 depending how much you want to transfer
- Commission for payment of bills: Varies
- Card transaction charges: 0.5% — 1.5%
- Account maintenance: 0 or minimal fees
Moniepoint POS transaction charge depends on the service involved and the amount involved. You may get discount rates if your volume is high.
OPay POS Charges: Latest Rates
OPay’s fee structure includes:
- Withdrawal charges: 0.5% – 0.7% of the amount
- The transfer fee will range from ₦100 to ₦150 depending on the amount
- Fees for bill payments differ by biller
- Fees for card transactions: 0.5% – 1.2%
- Settlement charges: no cost for regular settlement
OPay updates its fees often, sometimes offering limited-time rates to attract new agents.
GTBank POS Charges: Everything You Should Know
GTBank POS charges typically include:
- Fees for each transaction are 0.5% – 1.25% depending on the transaction
- May Charge Every Month Depending on Account Type
- Settlement Fees: Usually free for GTBank account holders
- Fees for card schemes are card type dependent (visa, master, verve)
- Paper roll replacement: At cost
GTBank may provide special rates for corporate clients depending on their level of activity or account type.
Earning Commissions as a POS Agent
POS agents earn through various commission structures:
- Percentage of transaction fees
- Fixed amount per transaction type
- Tiered commission rates based on volume
- Bonus incentives for meeting targets
- Promotional commissions during special campaigns
When entrepreneurs understand this earning potential, entrepreneurs can assess the business opportunity and the realistic income earning potential for their POS operations.
| Provider | Machine Types | Price Range | Transaction Fees | Key Features | Best For |
|---|---|---|---|---|---|
| Moniepoint | Traditional Android Mini | ₦24,000 – ₦30,000 ₦35,000 – ₦45,000 ₦15,000 – ₦20,000 | 0.5% – 1.5% |
| Best Overall |
| OPay | Traditional Smart (Android) Mini | ₦20,000 – ₦25,000 ₦30,000 – ₦40,000 ₦13,000 – ₦18,000 | 0.5% – 0.7% (withdrawal) 0.5% – 1.2% (card) |
| Best Budget |
| GTBank | Standard Advanced | ₦20,000 – ₦30,000 ₦35,000 – ₦45,000 | 0.5% – 1.25% |
| Best Bank-Backed |
| Jumia | Basic Premium (e-commerce) | ₦18,000 – ₦25,000 ₦30,000 – ₦40,000 | Varies by package |
| E-commerce |
Frequently Asked Questions
Yes, but you’ll need to partner with a bank or fintech company to process transactions.
Typically 1-2 weeks, depending on the provider and your documentation.
Agents in busy areas can earn ₦5,000 – ₦10,000 daily, while those in quieter locations make ₦1,000 – ₦3,000.
Yes! Providers like Kudi and Baxi offer offline modes for areas with poor network coverage.
POS stands for Point of Sale. Device used to accept your card payments or transfers at a store location and time where a buy is completed.
In Nigeria, it ranges from roughly ₦15,000 to ₦45,000 depending on the provider, machine type and features.
The Moniepoint POS machine prices vary from ₦15,000 for mini models to ₦45,000 for Android models.
OPay POS devices are available in Nigeria for a price range of ₦13,000 – ₦40,000.
According to Jumia, the price of the POS machine is between ₦18,000 and ₦40,000.
To obtain GTBank POS, you must have an active GTBank business account. After this, you will need to fill out the application form at your designated branch or online. After that, submit all required documentation along with minimum balance.
To get a GTBank POS, you must visit the branch, submit your business docs and ID, complete the application form and pay any applicable fees.
To get a Moniepoint POS machine, you should visit their website or agent location; fill and submit the registration form, provide the registration documents, pay the registration fee and verification.
To register, you will need a valid ID, proof of address, passport photo, and active bank account details with an initial deposit.
First, turn on your device, connect it to the net, enter the amount, choose the type of transaction. You process the customer’s card, verify the transaction and print out a receipt.
Moniepoint POS agent tiers and account status influence daily limits ranging from ₦500,000 to ₦5,000,000.
Moniepoint takes a fee of 0.5% to 1.5% based on the transaction type.
You can enjoy reliable service, full support, several sources of income, good commission rates, and great branding.
To become a Moniepoint POS agent, you will need to research requirements, complete the application process, pay required fees, receive training, develop business plan and market your services.
The term POS daily refers to the daily transaction target or total transaction volume processed through a POS terminal in a single business day.
Making the Right Choice of POS Machine
Choosing the best POS machine in Nigeria requires careful consideration of some underlying factors. What kind of business you run, how many transactions you’ll do, where you’re located and your budget will all affect who you choose and what device is right for you.
The world of POS in Nigeria is gradually changing, with providers improving their services to stay competitive.
If you’re looking for simple, entry-level devices, we recommend the mini POS machines from providers like Moniepoint and OPay. An established business with higher transactions may have to use the more sophisticated features of an android POS machine despite its high cost.
Bank-supported choices like GTBank POS come with added protection and integration advantages for companies already in their banking circle.
POS Machines are essential for businesses of all types as Nigeria’s cashless policy keeps prompting the use of electronic payment.
When you learn about how much they are sold for, how they are applied for and how they operate, you will make the best decision that will help your business in 2025 and beyond.
