Payforce charges offer interesting and seamless banking solutions for everyone including those without hope owing a POS of their own.
There was a merger between Payforce and Fairmoney and we can categorically say that Fairmoney bought off payforce. The two companies exist as one company.
Payforce has provided good benefits and their POS charges are relatively very low you can access and take advantage of this offer just for you.
When you understand the core POS Charges for every POS network or POS company especially companies like payforce, you will value the company you use.
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In this article, we will make certain comparisons, comparing payforce with other POS charges. One of the importance of understanding Payforce Charges is that you will calculate your profit in an easy way without getting disturbed or worried about profit.
Another benefit of understanding POS charges is the fact that you can have options and pick from POS companies which charges relatively very low.
A company might offer her POS at a very cheap price but the charges are usually very high. This article will help you to understand Payforce POS and its charges.
We will also provide additional vital information which you may need as a payforce POS merchant as well as how to get the POS machine for payforce.
What is Payforce POS?
Payforce is a POS company that is currently managed by Fairmoney. Payforce and Fairmoney are the same and they provide easy internet banking solutions. You can open an account and stand a chance of getting a POS machine when you apply for it.
The steps of applying for the Payforce POS machine are very simple, easy and straightforward forward and by following the instructions, your application will be successful.
You need to know the important benefits of owning an account with payforce. As a POS merchant, for Payforce, you will have access to loans which you can use to boost your business. This loan comes in different categories and you will have to pay back as planned.
Key features and benefits of Payforce POS
The following are the key benefits of using payforce POS
- No network issues
- Fast and reliable transfers
- POS is strong and durable
- Access to soft loans as a merchant
- Smart customer service solutions.
Why businesses use Payforce POS
Using payforce for your business guarantees sales and increases in revenue even as a business owner. Business which uses payforce and others which use other POS machines cannot compete together. Users of Payforce POS machines are usually more advantageous in their business than any user, hence payforce becomes the choice for everyone.
Another reason to choose payforce aside from their low POS interest rate is the fact that you don’t have to pass through some herculean process to get your POS.
Whether you are a merchant or you are a business owner, payforce POS is just the best for your business.
Types of Payforce POS Charges
Please don’t get it all confused with payforce, there are different types of charges which you might get as you use payforce.
- Transaction Fees
These fees are usually charged upon making traction with your POS machine. Your machine automatically deducts the money after making each transaction.
Please note that this fee cannot be reversed, once a transactional fee occurs. This fee can be reversed alongside the money. For example, if a transaction that didn’t go through or money has been reversed to your wallet, the transactional charge too can also be reversed.
Please note that payforce charges you about N10 for transactions from N1,000 to N10,000 other charges may follow accordingly in case of an increase in the transaction.
This rate only covers transfers, for Withdrawals and deposits, there is another rate which also covers these transactions.
- For each withdrawal, payforce will charge you about 0.6% to 0.11% depending on the amount
- For deposit, the charge for each deposit is ₦25
Payforce POS charges and Monthly Subscription Fees
Payforce does not charge any money for setup every month. Unlike other POS machines, that charge her customers monthly, payforce does not charge any of her customers every month.
There are no POS maintenance charges on payforce and this makes transactions more interesting.
Setup and Installation Fees
There is no setup costs or charges as part of the Payforce POS charges. You will only pay a non-refundable amount of about N25,000 to get the POS machine which will now be yours.
The setup and account signing process on payforce is very simple and does not require additional cost. With payforce, you will find Zero installation fees, low initial set-up costs and other installation fees.
3. How Payforce POS Charges Compare with Competitors
From our in-depth analysis, payforce POS charges are relatively low as compared to Monipoints, Opay, palmpay and even Kuda POS.
Payforce defines a renewed banking system making everything possible for all those who were given unfavourable charges for their POS business.
From our observations, many POS companies are adjusting to reducing their POS charges so has to stand the competition with payforce.
From our analysis, there are a lot of benefits when you use payforce POS and there are only a few drawbacks with payforce POS.
Factors Influencing Payforce POS Charges
If you are still complaining of still having a lot of charges, the following factor might constitute being charged obnoxiously high.
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- High Volume of transactions; the higher the amount, the higher the charges
- Type of transaction, Withdrawal, deposit and others don’t carry the same transactional charges.
- Repeated tractions can also cause or influence the Charges.
To reduce Payforce Charges, you should take the following factors above into consideration. One of the ways to also stay in profit is to increase your transactional Charges to customers. Please all transactions that can be done once, please avoid splitting and executing it multiple times as it incurs multiple charges.
Conclusion
This post shows you the full guide on Payforce Charges to know the exact POS charges for each account. We have given a detailed analysis of the POS charges and a guide which will help you. Please do well to share this post.
We encourage you to compare POS charges with others and see the best POS machine in terms of charges.
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