How to start a POS business in Nigeria

How to start a POS business in Nigeria 2023

POS (point of sale) business is one the fastest growing businesses in Nigeria today. It is highly lucrative and very easy to set up. The POS business has bridged the gap between Banks and people and is a thriving business today. It makes it easier for people in rural and urban settlement areas to have access to bank services. The business has reached far into different deep locations where residents find it hard to get access to banking services.

The POS business is a very Lucrative business and anyone can set it up. It doesn’t require any special skill or training, unlike other service businesses. The business requires little capital to set up and you can make an average of five to ten thousand naira daily in profit.

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How does a Point of Sale (POS) business work?

POS business has taken the spotlight among the easier to set businesses in Nigeria. It can be merged with other trades or run alone. Most shops that deal with large amounts of cash now see it as another way to earn additional income.

The POS business is not very difficult to understand. Some of us have had to pay with our card using a POS terminal at Boutiques, shopping malls, etc in exchange for items, goods, or services. The only major difference when fully associated with the POS business is that cash is the only exchange. You either accept the customers’ deposits or carry out withdrawals for them.

As a registered POS agent, you are under a financial institution like a bank or financial technology company like Opay, Palmpay, etc. You provide different services like deposits, withdrawals, airtime purchases, and many more. For the withdrawal which is the core and popular service normally provided by most POS agents, you use a POS terminal that processes debit card payment – Once payment is successful, the customer gets the amount in cash. Therefore, keeping a reasonable amount of cash at hand is very important to the success of a POS Business.

For every transaction you carry out for customers, you are to charge them. You also get an additional commission from your POS service provider which makes it lucrative especially when you are in a busy area. The amount you get from your POS service provider is called commission.

Is POS business profitable in Nigeria?

According to, it was recorded that the number of POS terminals have grown significantly between 2017 to 2022 with no drop in any single year. People that acquired the terminals are mostly people who run them for cash transactions.

From our own investigation as well, we found out that it is almost very difficult to take a 10-minute walk around, especially in busy locations, without coming across a POS operator.

Why are many people now in the business? Why is it everywhere and how are they managing to cope with competitions?

These are the questions that are likely to put doubt into anyone nursing the idea of starting a POS business. The answer to the question about whether the POS business is profitable or not will depend on certain implementations.

For instance, if you have your business set up close to the Banks or ATMs that rarely see many queues, in a place close to ATMs, setting up your business in a location with many established Point Of Sale centers, or running it in a less crowded place will actually give you little due to low turnout of customers.

To be on the profitable side of the business, you need to carry out a feasibility study. Take a moment to explore your proposed place of operation before pitching your tent. Know the number of banks around you, and the banks’ proximity to your location, ask questions if you are not familiar with the location, especially on ease of deposits and withdrawals in such an area, etc.

Moreover, banks do not open on weekends in most places which makes you a lifesaver even for people who prefer to use the bank and with the ATMs that are always out of service on such days. Also, not many want to take a 20-minute drive to the bank to withdraw money especially when there are Point of sales agents around. It not only helps them save on fuel or transportation fares, but it is also quick and faster. Impediments like this ensure that the business keeps growing, which makes it a profitable business.

With all that has been stated, one can conclude that POS Business is very profitable in Nigeria but the level of profitability will depend on your preliminary exploration and execution. Notwithstanding, it is still a business that hardly fails.

How to start a POS business in Nigeria

A POS business is one of the easiest businesses to set up. The procedures of setting up can be concluded within a period of 2 weeks to a month. These steps vary with different service providers. Here are some basic steps in setting up a POS business.

1. Register as a POS Agent

The first step of setting up a POS business is becoming a POS agent. You can register with a local bank or with online banking platforms.

What you need to become a POS Agent

  • You must have an active bank account with your bank of choice that has been operational for at least six months.
  • For Some banks, it is a necessity to have an active current account with them. At the same time, others require you to deposit a fixed amount of money in the account to activate it.
  • You must complete an Agent registration form which can be gotten from the customer care section in the bank.
  • You must have a valid means of identification.
  • You must have a bank verification number (BVN).
  • You must provide a utility bill to verify your location.
  • You must have an existing business.

Once all of these conditions have been met and approved the next step is to download the mobile agent app on your phone. These apps can be found on the Play store for Android phones and the App store for iPhones. Next is to fill in your details on the app. Some banks require you to deposit an amount of money in your agent account.

After the successful completion of the registration process on the app, you must perform a minimum of 25 transactions (withdrawal, transfer, and airtime purchase) with the account after which you can apply for a POS machine. The POS machine will be delivered to you within 1-2 weeks after your application. As a Bank Agent you get a commission for every transaction you carry out with the bank POS.

You can also register with an online POS issuing Agency. The steps in registration on these platforms are very similar to that of the bank registration process. In this case, you don’t need to go to the bank to start the procedure. Everything is done online. Also, the percentage charged for each transaction is lower than that of the bank, therefore you stand to gain more profit and their services are more advanced and faster than that of the Bank POS. Some of these agencies include:

  • Opay POS
  • Bankly
  • Fidelity POS
  • Monie Point POS
  • Firstmonie POS
  • Kudi POS
  • Payforce
  • Paga
  • Quickteller Paypoint
  • Baxi POS
  • Palmpay POS
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2. Find a good Location

When setting up a POS business you must put some things into consideration. The level of development of the location, proximity to other businesses, closeness to banks and ATMs, the level of accessibility to your desired network, and also the level of crime in the area.

One of the best locations for a POS business is in rural areas with minimum development and even lesser access to banking services. Setting up in an area where there are very few Bank establishments will be a great boost for your business because members of the community will depend heavily on your services and this can also allow you to charge even higher than those in urban areas where people can easily gain access to banks and ATMs. Setting up in underdeveloped areas also means less competition compared to a highly populated area.

You can also set up in areas with high human traffic like street junctions and market areas. The higher the amount of human traffic, the higher the potential for your business. Another good location for a POS business is in student areas. You can also set up in areas full of other businesses that might also attract customers to you.

3. Get start-up Capital

Capital is very essential in setting up a POS business. You can set up your own POS business with as little as N70,000. This also covers the money for the purchase of your POS terminal. Once you get your terminal, you will need a little amount of cash both in your agent account to perform money transfers and physical cash to pay for withdrawals. Some good sources of start-up capital money are friends and relatives, personal savings, and loans from Banks and other financial institutions.

4. Get a Shop or a Kiosk

Your shop is your business base so it is very important. You can rent a shop or make a kiosk where you will perform your services. Your shop should have a sign to alert customers to the availability of your services. You can also merge with an existing business. You discuss with them and set up a little office in a corner of the shop. This is cheaper and it also provides you with ready customers from those patronizing the shop.

How do POS Agents make Money?

POS agents perform different transactions and each transaction has a specific service charge. Some of the transactions performed by POS agents include:

  1. Cash withdrawal
  2. Depositing of funds
  3. Purchase of airtime
  4. Payment of utility bills like electricity and cable
  5. Opening of bank accounts
  6. Funds transfer service
  7. Agent mobile payment
  8. Repayment of loans
  9. Issuance of mini-account statements.

Service Charges used by People running POS Businesses

This charge can range from N100 to even as high as N3,000 depending on the amount involved in the given transaction. The higher the amount involved in the transaction the greater the charge. Also depending on your location, you can charge more for your services. Having a POS costs you less for each transaction. Some charge a transaction fee of 1-4% and a flat rate of 10 naira for each money transfer transaction. Hence the rest of the money paid for the transaction is your profit.

However, below are the common POS price list for withdrawal and deposit:

POS Withdrawal Price List

Withdrawal Charges for POS Business:
Here is a table showing fee charges by POS Operator on Withdrawal:

Withdrawal Charges
N100 to N5,000N100
N5001 to N10,000N200
N10,001 to N20,000N300
N20,001 to N30,000N400
N30,001 to N40,000N500
N40,001 upwardNegotiable

POS Deposit Price List

Deposit Charges POS Deposit Business :
Here is a breakdown of the price list used by POS Operator in Nigeria:

N100 to N5,000N100
N5001 to N9,999N150
N10,001 to N20,000N200
N20,001 to N30,000N300
N30,001 to N40,000N400
N40,001 upwardNegotiable


Bank service providers pay a commission on each transaction performed. This commission is determined by the amount charged on each transaction. This commission is accumulated and paid monthly to the Agent. Some banks charge 100 naira for deposits less than N10,000 and from this charge, the agent receives 40% of that amount. The service charge for money transfers is a minimum of N100 for bank POS terminals

How to start a POS business with Opay POS

Opay is a licensed mobile money platform in Nigeria set up to provide a wide range of services. With their platform, you can easily offer mini-banking services to your customers.
Setting up has never been very difficult. Once successfully done, you can start carrying out transactions for your customers with no issues.

Services offered by Opay POS

  • Carry out deposits and withdrawals for customers.
  • Get big offers and discounts on airtime purchases using the Opay app.
  • Help customers pay for their TV subscription and enjoy commission.
  • With your account on Opay, you can send and receive money from any bank or supported mobile money service.
  • Pay bills quickly using your Opay account.

Documents required to complete registration for Opay Business

  • Bank Verification Number (BVN).
  • A passport photo.
  • A utility bill or another bill received not more than 3 months with your address on it.
  • A copy of any Govt approved ID card with your profile. A national ID card, Driver’s license, or International password can be used.

How to become an OPay POS Agent

1. First, visit the Google Play Store, search For OPay, and install the app on your device.

2. Once downloaded and automatically installed on your device, follow the instructions to sign up for an Opay account.

3. Now that your Opay account has been successfully created, email and request an OPay merchant registration form.

4. Endeavour to provide the necessary and correct details when registering as an Agent. This will be used to validate your request to become a POS Agent.

5. All further instructions will be spelled out to you for you to know how to proceed next. You should get feedback within 2 working days.

How much is OPay POS Terminal?

The POS terminal is free from Opay, and also comes with no caution fee, usually around N20,000. But with OPay Mini POS, there is none. The caution fee is common with some POS service providers. When you pay a caution fee, you will only be refunded when you return the POS machine.

After a successful application for the POS machine, it might take 24 to 48 hours for your request to be reviewed. If you are approved, you will be provided information on how to get your POS terminal from their Super Agent or at the office.

Once settled, you are now in business and you can enjoy as low as 0.5% per any transaction you carry out for customers.

How to start a POS business in Nigeria using FirstMonie POS

First bank is the initiator of the popular mobile money platform called FirstMonie. It doesn’t matter if you are already into another business or about to, this is one of the best you can use considering the ease of support you could get.
First bank Pos agent banking allows you to provide financial services to people and in return, you charge them and also get some percentage from the bank.

Services you can provide as First Bank POS Agent

  • Opening of First bank account
  • Withdrawal and deposit to customers’ respective banks
  • Carry out money transfers on behalf of customers
  • Bill payments and airtime purchases.

Documents needed for FirstMonie POS

  • BVN, Utility Bill, and a valid identity card
  • A passport photograph
  • A working email address and phone number.
    A business location
  • Prospective POS operators must have an existing business or a small capital to start one
  • Business registration documentation for corporate bodies

How much is the First Money Machine?

The first bank POS machine, otherwise known as First Monie terminal is free for all agents. Once you have been approved to run as an agent, you will get a free Point of sale machine at no cost.

With over 750 branches in Nigeria, you are assured of excellent support when you need it which makes it an easy choice for many looking to run a POS business.

How to become a First Money POS Agent

1. To become a First bank POS operator, visit the first bank agent website using your device.

2. Complete the required details. Ensure that all information are correct as it will be manually reviewed by the bank Officer.

3. Agree to the terms and conditions by highlighting the box.

4. Submit your online application for POS and then wait for feedback. A reply should be provided within 72 hours (Business days only).

How to become a POS Operator using Bankly POS

Bankly is another financial technology company, mostly notable for providing Cash digitization services. Using their services, you can be a provider of services to customers. As a merchant or agent under them, you can make good cash.

The starting point is always to register with them, but we still need to provide you with what you will need to provide before your application can be approved. Many businesses have partnered with them and have made considerable income, you too can.

What makes Bankly better than most of the POS bankly providers is that it pays a good commission. Could also be an incentive to get more agents, but for now, it is the deal.

Documents to tender for Bankly POS

  • A copy of BVN and any government-approved ID card such as a Driver’s license, International passport, or National ID card.
  • A utility bill dated no later than three months as proof of your address.
  • One passport photograph
  • Business License (Registered business only)

Services Provided by Bankly POS

  • Make withdrawals using the Bankly POS terminal for customers.
  • Carry out bill payments seamlessly and with almost instant success.
  • Transferring funds for customers via the reliable bankly service.
  • Cardless USSD withdrawal.
  • Deposit cash for customers easily and more.

How to become a Bankly POS agent

1. To start your POS Business under Bankly, go to your App store, be it Play Store or Apple App Store, and download the “Bankly” app on your device.

2. Sign up for an account and provide the necessary details.

3. Verify your Bankly account. A customer service agent will attend to you. This is a very important step.

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4. Sign in to your account and start carrying out transactions for your customers.

Guides to starting a POS business using Kudi POS

Having a small amount of capital is not an excuse not to start a daily income business. With Kudi, you can start making money as an Agent. As a Kudi POS agent, you can help in making financial services available in your location and get paid in return.

It is no gainsaying that the banks are not doing enough to make banking easy for their customers, this is why many are now leaning towards the POS operator. In this section, we will be guiding you on how to become a Point of sale operator, be it in Lagos, Kano, Abuja, or Port Harcourt using the Kudi Mobile Money Platform.

Services you can carry out for customers using Kudi are bank transfers, airtime purchases, deposits of money, withdrawal of funds, TV subscriptions, and other bill payments.

Documents required for successful registration
Documents required are the same as other POS service providers. They are one passport photograph, A valid ID card, your bank verification number, utility bill (Issued not more than 3 months, and phone number.

How to set up your Point of sale business in Nigeria using Kudi POS

1. Almost anyone can easily register as a Kudi POS operator, but the first step is to download their mobile app from Google Play Store.

2. Sign up for your Kudi account by providing the necessary details. Understand that your phone number linked to your Kudi account is your unique Kudi wallet identifier.

3. After using the app for some time for various transactions, reach out to customer care and declare your interest to become a POS operator under Kudi.

4. By carrying out various transactions for people around using the app, you can get a free POS terminal. However, if you want it fast, you can make payments by clicking “Terminal POS” under the Sidebar and follow the prompts to make payment.

How to start a POS business in Nigeria using Payforce

Payforce is another mobile banking service you can use for your POS business in Nigeria. The service provider aims to provide quick and smooth financial services to the unbanked as well as people who are being let down by their various banks’ issues.

To become an agent, there are procedures that need to be taken which we will be sharing with you. But first, you want to know what you need to get approval which leads to receiving your PayForce POS.

Documents needed for Payforce POS Approval

  • A copy of your valid ID Card, utility bill, and passport photograph.
  • Bank verification number (BVN).
  • Customers must already have a location in place for the business.

How do I get the Payforce POS machine?

The Payforce Pos machine is otherwise called Payforce Terminal. The cost of getting the non-android type called Mpos is N10,000. For the Android POS, the price is N30,000.

How to become a Payforce POS Agent

1. To sign up, you can visit the official Payforce website to get app links or simply visit your App Store and download Payforce App.

2. Create an account and provide the necessary information.

3. You will also need to provide KYC.
Once submitted, you will receive further instructions including how to get your Payforce Pos terminal.

Steps to run a POS business in Nigeria using Monie Point POS

Monie Point has been in the business of providing income-earning opportunities for Nigerians for years through their point-of-sale terminal known to be reliable.

With their machine, you can provide mini banking services to customers who are not bent on visiting the bank to go head to head with the never-ending queues.

Financial transactions you carry out using Monie Points

  • Money Transfer
  • Deposit and withdrawal
  • Payment of bills
  • Airtime purchases and more.

Documents required to apply for Monie Point POS

  • A valid ID card (Must be a Government approved one).
  • Bank verification number (BVN), Utility Bill, and a Passport photograph.
  • Bank account number.
  • CAC certificate (Only for Registered businesses)

How to become a Monie Point POS agent

To become a Monie Point POS agent, visit from your internet-enabled device. Click through the registration link and complete the required details.

You will also need to provide some copies of documents for verification purposes. Once reviewed, you will be contacted within 48 hours for the next procedure. Always use your personal phone number and email address to avoid missing out on important information.

How to start a Point of sale (POS) business using Paga POS

Paga is one of the popular mobile money platforms used by businesses. It is a name that when mentioned, almost anyone will easily know the services that it provides.

As a Paga agent, you are entitled to charge your customers for services provided for them such as Money transfer, deposit and withdrawal, and other common POS services. You also get to make a commission and receive bonuses from the POS service provider.

Paga has made it easier for everyone to start earning as a POS agent. As a new agent, you will go through training on how to transact on Paga. Once approved, a rep will reach out to you to discuss how to go about your training.

Services Paga POS agent provides to customers

  • Opening of a Paga account.
  • Purchase of airtime and data.
  • Make deposits and withdraw money.
  • Help customers pay their bills.
  • Carry out money transfers for customers.

Conditions to fulfill to become a Paga Pos Agent

To become a Paga Pos agent, you must have an existing business that is known to have met the needs of others. Alternatively, being an influential person will also aid your registration.

Once that has been met, then a copy of your valid identity card, BVN, a passport photograph, and utility bill issued not more than 3 months ago will be needed. If you are yet to obtain your BVN, go to your bank and apply for BVN.

How much does it cost to sign up as a Paga agent and get a POS Machine?

Signing up for an account is free on Paga, but you need the POS machine for transactions. The Paga POS machine is not free, and costs N30,000 to acquire one.

How can I become a Paga POS agent?

1. Simply visit and log in to your account. If you are yet to create one, sign up and create an account.

2. You can also download Paga App from the App Store or Android Play Store. Once on the website or app, select “Agent” and click “Become an Agent” to get started.

3. Other ways to apply are by sending an email to or use any of their social media platforms.

4. After getting Paga’s Attention, you will be provided information on how to get your POS terminal once approved. This will depend on your location in Nigeria.

How to start a Point of sale (POS) business using Quickteller Paypoint

Quickteller Paypoint is another platform you can use to begin your journey into earning daily income as a POS attendant. You can offer services such as Deposits, Cash Withdrawals, Airtime recharge, Bill Payment, bill payments, money transfers, etc.

Quickteller is big on its own, and you can expect your sales to maximize as people are more likely to be drawn to your adverts. Once you complete your registration, you will get branding materials for free.

Requirements for starting a Quickteller Paypoint POS business

  • A valid identification card and Bank verification number.
  • A passport photograph and a guarantor.
  • Recent utility bill. You can make use of a water bill, waste bill or Nepa bill issued less than 3 months ago.
  • A CAC certificate (For registered businesses only).
  • A physical location for your business.
  • A functional android-enabled mobile phone or laptop/PC.

How to become a Quickteller POS agent?

1. The first step is to visit and click “Become an agent

2. Complete the necessary details and verification. The official app of Quickteller on Playstore and App store can also be used to apply.

How to get Quickteller POS

To get the Quickteller machine for your POS business, you can make an outright purchase by visiting

You can also get the Android POS terminal from IFIS if you are sure that you can make at least 300 transactions every month. Apply through any field support staff in your location. Contact customer care for the support staff contact details.

How to start a Point of sale (POS) business using Baxi POS

Baxi is another way to make money in Nigeria. The company is a mobile money platform that can be used by anyone who wants to start a POS Business in their neighborhood and earn a commission.

The company is in partnership with MTN and UBA, top brands in Nigeria to give their growing customer base assurance and quality service.

Services you can carry out on Baxi include account opening, bill payment such as Tv subscription, buying of airtime, cash in (deposit), and cash out (withdrawal).

What do you need to apply as a Baxi POS agent?

  • BVN, a verified Identity card, valid email address.
  • Utility bill (Nepa bill, waste bill, or water bill will do).
  • For registered business, you will need to provide your Business License.
  • Account number and phone number.

How to become a Baxi POS agent

Visit Google play store or App store to download Baxi Mobile on your phone.
Launch the app, and click “Sign Up” to get started.

Provide the necessary information required of you. Ensure you complete all your KYC.
Complete your registration.

How to get a Baxi POS

To become an agent, you need a point of sale (POS) and we will be providing you with a guide on how to acquire one.

Getting Baxi POS is free but there is a cautionary fee attached to the device. You can get back the money when you return the device. Cautionary fee attached on MPOS is N10,000 while that of Android is N30,000.
Open the Baxi app and click on POS to request the one you want for your business.

How to start a POS business with GTB POS

GTB, now known as GTCO is one of the top commercial banks in Nigeria with its wings spread all over the country. As an established bank, one can count on them to deliver cutting-edge technology and improved performance for people who have a stake in the company. Hence, this makes this an easy choice for anyone looking to start making money by running a POS business in any place in Nigeria.

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The GTB POS provides a convenient and efficient way to deliver to customers who are looking to carry out some transactions the easiest way.

Requirements needed to become a GTB POS Agent

You will need to provide a copy of your valid identification card, bank verification number, a passport photograph, and other common requirements such as email address, phone number, and intended location of the business.

How to become a GTB Pos Agent

To become a GTB Pos Agent, you just need to visit any GTBank near you. There are GTB banks in every state in Nigeria, so it should not be difficult to locate one. On getting there, speak to customer care and they will refer you to the officer in charge of GTB POS service.

You will be given a form to fill in. So endeavor to go with everything you need including your passport, ID card, and BVN. Once done, you will be contacted within 3 days and if there is anything else, they will discuss it with you.
After approval, you will get your POS terminal. However, the waiting time could be 2 weeks or more, but not more than a month.

How to start a POS business with Wema POS Banking

You can get your business on track with Wema POS. The bank itself has been in motion for decades with several branches spread all over the country. Therefore, if you prefer to use a POS provider that can be easily reached, this is the one you want to use. You can reach out to them through calls, emails, LiveChat, or simply go to any nearest branch.

Their POS can be used by many establishments and can also be used for people who are looking to maximize their income or get on track. With Wema, you can get increased sales as people are more likely to be drawn by the branding materials, especially one that displays a well-known commercial bank. Services you can carry out include Transfers of cash, money deposit, cash withdrawal, account opening, etc.

What you need to become a wema bank operator

  • Bank verification number (BVN)
  • National ID card, Drivers license, or International passport
  • Utility bill
  • Phone number and email address
  • A bank account, preferably a wema bank account.

How to become a Wema POS Agent?

1. Visit the nearest wema bank and speak to the customer care agent. A form will be given to you to complete.

2. Alternatively, go to, and click “Apply Now” to download the form for free on the site.

3. Complete the form and provide the necessary information.

How to start a POS business with Access Bank CLOSA agent

Almost everyone has heard about Access bank Closa as it got a lot of publicity when it first came out. The service is still available and you too can become a partner with Access bank, one of the largest commercial banks in Nigeria.

With Access Closa, you can make money on a daily basis while offering mini-banking services within your vicinity. Services you can offer to customers are Cash deposits and withdrawals, Funds transfers, Bill payments, Airtime purchases, and Opening accounts for customers.

What you need to become An Access Closa Agent

  • Valid identification – Driver’s License, International Passport, National ID card, or Voter’s card.
  • An already identified location for your business.
  • Working capital of at least 50K for set up.
    Utility bill.
  • Business registration documents (For corporate bodies only).

How to become An Access Closa Agent

Simply visit any branch of Access bank near you to register to become an Access bank pos operator. Alternatively, you can talk with customer care by reaching out through any of their dedicated channels. Emailing for the document is the most suitable one.

If you are going to the bank, endeavor to go with everything you need to be registered like your BVN, Valid Id card, Utility bill, etc. We have already spelled them out for you.

How to start a POS business with Zenith Bank POS agent

Nigerians are now favouring Point of Sale Agents rather than having to go to the bank to carry out transactions. It has to do with the fact that it is faster, and tends to be very efficient. This provides you also with an opportunity to make money and Zenith bank pos is a good one to partner with.

As an agent for them, you carry out financial banks for customers and you get paid a commission for that. You can also run the business along with the existing one to provide you with another stream of income.

Services you can offer include bank-to-bank transfer, cash withdrawal and deposit, airtime purchase, and payment of bills.

Requirements to start a Zenith Bank POS business

  • A bank account. You do not need to be a Zenith bank customer before you can be attended to.
  • An identified place of operation for your POS business.
  • BVN, Identification card, and utility bill.
  • Passport photograph.

How to become a Zenith Bank POS Agent

You too can become a Zenith Bank POS Agent by going to the nearest branch of Zenith Bank in your location. Talk to customer care and you will be given a form to fill out. Go along with all the documents you will be needing for the Zenith bank pos service.

Once completed, you can return the form and the accompanying document to the officer in charge. It will be reviewed, and you will get a reply in 48 to 72 hours.

How much is the Zenith bank POS machine?

The zenith bank pos machine is free. Before being given to you, you will need to get approved by the bank. Once approved, it is just a matter of days before you are called to come for your Point of sale terminal.

How to start a POS business with Nomba (Kudi) POS

Nomba POS, formerly known as Kudi POS is one of the most popular mobile money platforms used by businesses. With Nomba, you can create solutions to common issues that banks often experience.

It is no gainsaying that there are not enough personnel and facilities that can easily take care of their large customer base. This provides you an opportunity to make money when you carry out mini-banking functions for customers. Services commonly offered on Nomba are Cash deposits, withdrawals, airtime purchases, bill payments, etc.

Requirements for starting a Nomba (Kudi) POS business

Of course, some conditions must be met before you can start earning as a Nomba POS agent. You will need your BVN, identification card, utility bill, and passport photograph.

How much is the Nomba Pos machine?

The Nomba POS machine is currently N25,000. Since you are paying for the exquisite machine, you will not need to pay a security fee. The machine will only be provided to you after you have been approved as an agent.

You can order the terminal by visiting the official website and click on order now which will take you to where you are to sign in before you can successfully order.

How to become a Nomba POS Agent

1. To become a Nomba POS Agent, visit and click the menu.

2. Next is to click “Get Started” to begin your registration. This will begin with providing your basic information. You can also download the app from the store and sign up from there.

3. Once approved, you can now apply for your POS machine. Creating an account is totally free on Nomba.

How to start a POS business with UBA POS

UBA also offers an opportunity for anyone looking to make money by providing services such as Cash transfer from one bank account to another, withdrawal of cash, cash deposit, bill payment, and airtime purchase.

To become a UBA POS agent, you will need to apply as one. After approval, you will be given a POS machine that you can use to carry out various transactions. It is very portable and very important for New Nigeria especially when banks are trying to enable a cashless society. The UBA terminals are not only available for POS agents, they can also be used by various businesses, merchants, and stores.

Requirements to become a UBA Pos Agent

  • An existing business or a start-up capital to set up. The start-up capital should be at least N50,000.
  • A UBA account. Even if you do not have one, you can open a zero-saving account at the branch.
  • Valid Identification cards, eg International passport, driver’s license, voter’s card, or national id card.
  • Utility Bill (issued not more than three months)

How to become a UBA POS Agent

To become a UBA Pos Agent, simply visit the bank and talk to customer care. You will be given a form to complete. You can also download the form from Alternatively, Click “Help” and reach out to an officer using your preferred channels.

How much is the UBA POS Machine?

The POS terminal is free for customers, but United Bank for Africa (UBA) always puts their main focus on applicants who can transact a minimum of N35,000 daily or one million naira in a month. If you are in a very busy location, meeting the threshold should not be an issue for you.

Requests for a POS terminal may take 3 days for Lagos residents. For those outside Lagos, this may take up to a week.

How to start a POS business with Ecobank Xpress point

Bank Customers want to access the best services with no stress, this is one of the reasons why Ecobank is providing opportunities for businesses as well as people who want to earn an income to partner with them. With Ecobank Xpress point, you can carry out the basic banking duties for customers and earn money while doing so.

Some services Pos agents can provide to customers are withdrawing of funds, opening an Ecobank Xpress Account, Funds deposit, transfer funds into any bank account, and airtime purchases. Do note that Ecobank Xpress point is majorly exclusive to Ecobank customers.

They also have Cashless Payments (POS) which will remove all the restrictions that come with Ecobank Xpress Point. With this, you can do more for not just ecobank customers, but other banks’ customers to earn even better.

How to become an Ecobank POS agent

To start earning as an Ecobank agent using their mobile money platform, you will need to visit any Ecobank branch near you and request to speak with the Officers in charge of POS.

An application form will be provided to you which you are expected to complete. You will need to attach some documents for identification purposes. They are any valid ID card used in Nigeria, utility bills received not more than 3 months, and a passport photograph. You will also be required to provide your BVN number for verification purposes.

How to start a POS business with Palmpay POS

Introducing Palmpay, one of the most used mobile money platforms for airtime purchases, bills payment, cash transfers, deposit and withdrawal, and more. The platform has taken the stage and is a direct competitor to Opay. You can enjoy bonuses and discounts from the wide range of services they offer.

If you are looking for a way to make money, we recommend the Palmpay POS. With them, you can earn a big commission as a PalmPay Mobile Money agent. Whether you’re just getting started, or just want to open another source of income, you will find Palmpay enough for you.

Palmpay also has many POS AGENT activities which will allow you to make more in commission and bonuses.

After completing your registration with Paypal, you will be contacted for business training. They will also give you marketing materials which will no doubt go a long way in creating awareness for your small scale business.

Requirements to become a Paypal POS agent

  • Bank verification number (BVN)
  • Any Govt Issued ID cards like a National ID card, International Passport, Voter’s card, and Driver’s license.
  • One passport photograph and utility bill.
  • A phone number and email address for Paypal account creation.

How to become Palmpay POS agent

1. To become a Palmpay POS agent, go to or install “PalmPay Agent” from Play Store or App Store depending on your device.

2. If you are registering on the web, simply click “Get Started Now”.

3. Fill out the form below and click “Apply Now”. One of the team members will get back to you after your application has been vetted.

How much is the cost of obtaining a Palmpay POS?

Obtaining a Palmpay POS is free. However, there is a security fee that is to be paid which will be credited to your account.

For Traditional POS terminals, the caution fee is N15,000 while the PALMPAY Android version goes at the rate of N30,000. When you return the Palmpay Machine to the PalmPay office, you will get your money back after considering the state of the machine which may take up to 15 days. If it is in good condition, there won’t be any need for deductions.

How to start a POS business with Fidelity POS

Fidelity POS machine, also known as Fidelity terminal is an electronic device designed to aid financial activities.
The POS is very secure and can be used to accept payments from your customers without any worries. It can also be used for POS business which normally involves making deposits and withdrawals for customers who want to avoid the long queues at the banks.

What you need to start a Fidelity POS

  • BVN, a copy of a valid Identity card, and a utility bill.
  • One passport photo.
  • A bank account. If you are yet to open one, they can open one for you.
  • Email address and phone number.
  • An identified location for use of the POS.

How to become a Fidelity POS Agent

1. To start a POS business using the Fidelity Bank Pos platform, visit any Fidelity Bank branch.

2. Fill out a POS request and agreement form. Once completed, return to the officer in charge.

3. The forms will go through a review process. In due time, normally between 48 hours to 72 hours, you should get a rejection or approval letter.

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