List of POS Charges | POS Charges are fast increasing and daily, people want to know which POS machines have the best charges for their interest we have made a comprehensive list showing you the guide revealing all the POS charges in Nigeria.
You need to know how much your fintech company takes from you for each transaction and the knowledge of the list of POS Charges will help you make good planning and know the best options to pick as you navigate towards business growth.
The POS system in Nigeria is fast growing, and different point-of-sales machines are everywhere. People in the business want better options hence the increasing number of machines in Nigeria.
POS merchant who are also called Aggregators gives out and work for more than 4 to even 6 companies issuing out these machines.
Since there are numerous machines available in Nigeria, we may not cover all the charges for these machines but we will give you the machine charges for the selected machines in Nigeria.
Point of Sales (POS) machines give the consumer easy access to cash instead of depending on the long queue of an ATM that might not dispense cash.
You can have access to your money and also process any other transactions which you desire with the POS machine.
The information here will guide you and give you the best machines as well as tell you how to choose the right machines for your business while looking out for your business growth.
What are POS Charges?
POS machine means point of sales machines and it is used to make payment as well as easy withdrawal on a single device without visiting any bank or any POS Station.
Getting the machine is now very easy for all those that are interested in owning one and the guide will show you how to get the machine for yourself and grow your company.
The Charges that come whenever a transaction is made are the most important of them all. Your machines will take a particular deduction for each transaction made and the focus point is to reveal all the percentage that is taken by the POS fintech company.
When it comes to charges, different transaction carries different charges and such charges are the same. Similarly, you should also understand that different machines have different charges although their differences might just be very slight.
This comprehensive list of POS Charges covers both transaction lists for withdrawal and deposit.
Knowing what your Fintech microfinance bank is taking from you for each transaction will put your business on a very good trajectory and help your business to grow.
List of Point of Sales Machines Available in Nigeria.
The following list is full information concerning some POS machines in Nigeria and their transaction charges.
This list is not ordered in any special way and in case you have not seen your operating company, please do well to check our next post on the list of POS companies and charges.
- Wallet Africa
- V Bank
- Trove
- Risevest
- Ren Money
- Remita
- Piggyvest
- Paystack
- Paga
- Opay
- NowNow
- Moniepoint
- Lidya
- Kuda
- KiaKia
- Interswitch
- Grey
- Flutterwave
- Fint
- Fairmoney
- Eyowo
- Eversend
- eTranzact
- Credpal
- ChipperCash
- Cellulant
- CDCare
- Carbon
- Bankly
- Bamboo
Common Charges in Nigeria
- Transaction Fees
These are fees that are attached to a particular transaction and upon completing your transaction, you are expected to know which amount is deducted from your machine and what I left for you as profit.
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The traction fees are categorised based on the various transactions performed with your machine.
Different transaction charges apply even to utility purchases, however, it is not all machines that charge for utility charges.
Like Opay, on airtime purchases, you are not charged rather you are given the airtime at a subsidized Value. Other POS companies may decide to charge you each payment on airtime.
Though one might get confused when it comes to POS charges, the differences are usually very slight
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Tips for Reducing POS Charges in Nigeria
Please note that there are no special tips for reducing your POS charges on the list of POS Charges. Each person is charged according to how much traction happens in a day.
Please note that the POS transaction charges are not conditioned by how many transactions you do on a particular day. You have to focus more on delivering your transactions but that doesn’t mean that your charges will be reduced even in the long run.
Another ecclesia which people think can lead to charge reduction is referrals. Please refer more than 100 persons to get the machines does not mean that your charges will be reduced and you may be charged lower, the referrals only increase your aggregator chances and it gives you a better chance to grow your career as a merchant.
However, it is important to note that commercial banks’ POS charges and microfinance bank charges are slightly different.
Factors Influencing the Point Of Sales Fee
This post gives you all the information on the POS charges for various POS machines in Nigeria. The information here is valuable to anyone who wants to start a POS business but doesn’t know the company to choose.
This information is also valuable to the POS operators as it will unlock their knowledge of the POS machines in Nigeria and why their transaction charges are high.
Please note that the transaction charges might be reviewed in the future and some banks will also review their charges.
If you are overcharged aside from the charges stated above, we advise that you call your POS company’s support line.
We will not however especially recommend and POS company for you and we will categorically say that any of the POS companies is the best when it comes to charges.
For your business to strive, first you need to understand the type of business which you are doing as well as choose a type of business plan for you.
Please do well to share this post on the various List of POS Charges so that others can learn about the POS charges in Nigeria.
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