How to start a profitable POS business in Nigeria in 2021.

Pos Business in Nigeria

Do you want to earn more money from POS Business? Are you looking for a lucrative business to start today? If yes, POS Business In Nigeria is for you. It’s the best business for both companies and individuals to make make money with the numbers of people that live around you or pass by.

Are you a graduate who is looking for the easiest way to make money Starting a small-scale business?

Or are you a business owner who’s looking for a small-scale business to add to his or her business so that their monthly income can increase? Well, there’s a Business ideal for both graduates and business owners which is POS Business.

Pay attention: Read interesting topics about business ideals on upflask.

What is a POS Business?

Point of Sales Business is an advanced form of small scale business, in which you can offers services like funds transfer and withdrawal, sales of airtime, bill payments like GOTV, DSTV, Startimes, PHCN, and other utility bills in Nigeria. This business has brought out many people from poverty and made many people rich.

POS Business was invented in 2013 and the central bank of Nigeria(CBN) announced the rules and guidelines for the operation management to the POS agent in Nigeria.

How does the POS Business work?

Here’s how the Point of sales Business work.

  • Register with a bank as an agent.
  • Set up your shop.
  • Start making money.

Here’s what you require to start the POS Business in Nigeria.

Here are few things you need to get approved by the bank.

  • You must have a location(location too close to exiting agents are not eligible).
  • Your shop or kiosk should be neat.
  • You must have a start-up capital and a valid email address.
  • Your registered business name(CAC Certificate).
  • You will need to get a POS Business banner.
  • Your means of identification (Driver’s license, National ID card, International passport, or voter’s card).
  • You need to provide 2 passport photographs

Location

Meanwhile, The location you preferred to establish your POS business is very important If the location is visible the number of people that will patronize you will increase which will surely lead to high profit.

And make sure your location is not close to the bank or ATM outlet.

The reason why you should avoid a location close to the bank or ATM outlet is just to increase the number of peoples that will patronize you.

And You will have to furnish your shop with the banners and other materials that they will give to you as POS mobile agents so that customers will know what your shop is all about.

An extra important thing you should put into consideration is the security of your location.

How much to start a POS Business in Nigeria and how lucrative is POS Business in Nigeria?

The Startup capital for POS Business in Nigeria is not high as most people think. With a
a little amount of ₦70k you can start and grow with time.

But if you are in a location where people demand high transaction just budget like ₦200k – ₦700k and above.

So this reminds me of the question had come across more than 100 times: how lucrative is POS business in Nigeria or how profitable is POS business.

How profitable is POS business in nigeria?

Services Render by the POS agent in Nigeria had made the agent a silient millonaire in the community they set up this lucrative business.

Well, if I’m to answer this question: The business is profitable if you establish it in the right location.

Where you can acquire a POS machine.

These are the two ways of getting a POS machine in Nigeria and you will get the POS machine free or paid.

Through:

  • The bank of Nigeria.
  • And the Agency banks.

Here’s are the list of banks in Nigeria that give out POS machines for free.

Here’s are the list of the Agency banks in Nigeria that give out POS machines for paid.

  • pay center pos machine.
  • Opay pos machine.
  • Kudi pos terminal.
  • Paga pos machine.
  • Ajocard pos machine.
  • Baxi pos machine.
  • Moniepoint pos machine.
  • Kolomoni pos machine and more.

What You will benefit as a POS agent and the services you can render in Nigeria.
You can offer different services which include:

  • Open a bank account
  • Transfer money from your agent wallet to any bank in Nigeria.
  • Withdraw money from any bank with your customer atm to your agent account.
  • You can enroll bank verification number (BVN)
  • Payment of electric bills, airtime, startimes and others.
  • Selling of WEAC epin.

And the benefit in the pos business in nigeria is that you will earn huge money on a daily basis.

POS agent Services Charge.

Here are few POS agent Services Charge:

  • From ₦500 to ₦4900 is ₦50 to transfer and ₦100 to withdraw.
  • From ₦5000 to ₦9900 is ₦100 to transfer and ₦150 to withdraw.
  • From ₦10000 to ₦14500 is ₦150 to transfer and ₦200 to withdraw.
  • From ₦15000 to ₦19900 is ₦200 to transfer and ₦250 to withdraw.
  • From ₦20000 to ₦24900 is ₦250 to transfer and ₦300 to withdraw.
  • From ₦25000 to ₦30000 is ₦300 to transfer and ₦350 to withdraw.
  • From ₦30000 to ₦50000 is ₦500 to transfer and ₦500 to withdraw.
  • From ₦50000 to ₦100000 is ₦500 to transfer and ₦1000 to withdraw.

Banking services and your commission.

FOR RECHARGE CARD PRINTING

  • Etisalat 2%
  • MTN 2%
  • AIRTEL 2%
  • Globacom 2%

FOR DATA BUNDLES

  • MTN 2%
  • Globacom 2%
  • Etisalat 2%
  • Airtel 2%
  • Smile 2%
  • Spectranet 2%


FOR THE BILL PAYMENT

  • DSTV 2%.
  • TSTV 2%.
  • GOTV 2%.
  • PHCH 2%.
  • STARTIMES 2%


Conclusion.

pos business in Nigeria is a lucrative business that you can start With little capital and be making close to ₦5,000 or above daily; It is a good business idea you should think of doing as a side hustle.

The POS business made an easy ebook.

I recommend you to buy the ebook so that you can succeed in the Pos business because the ebook has a lot of vital information contained that will guide you on mistakes to avoid, how to draw a plan for the business, and all you need to start the agency banking.

The ebook is well developed and delicious. Pay an amount of 1,000 into this account:

Name: lamina Micheal Iyanuoluwa Bank: United Bank for Africa Account number: 2141481344

When you have made a payment send the details to 09033259721 including your email address within 2 hours of confirmation you will get the ebook to send as a PDF file to your email account.

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I am an aspiring computer science student and a Crypto Enthusiast. I'm a talented blogger that loves researching, reading, and writing, business-minded with the solution to complete business tips. Do you love business? Stay tuned to upflask.com

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