Moniepoint POS Daily Target, Charges, Price, How to Get it

148 Likes 10 Comments
How to get Moniepoint POS Machine

What is moniepoint pos daily target? What is the machine price? How much is the Withdrawal charges and can you get it. In this post, we’ll answer all these questions in details.

Moniepoint POS Machine is an innovative business device introduced by a Nigerian fintech startup, Moniepoint Inc. Currently, the company is investing in expansion plans to extend its services to other parts of Africa.

For those seeking more information about how to get Moniepoint POS, how much it is, what’s the daily target, withdrawal charges, etc; you have landed on the right page!

Moniepoint offers a convenient payment solution that enables businesses to accept card payments via POS, generate receipts for bank transfers, monitor walk-in customer payments and, most importantly, earn revenue as a mobile money agent.

Almost 250 thousands businesses in Nigeria presently make use of Moniepoint POS for payment acceptance. Moniepoint is ideal for conducting POS business in Nigeria.

With a Moniepoint POS Machine, almost anyone can become a “mini-bank” for their local community and earn a significant commission on people’s financial transactions.

This guide will walk you through obtaining a Moniepoint POS machine, the cost getting it, and the associated Moniepoint charges.

Moniepoint POS Requirements

Are you wondering how to obtain a Moniepoint POS? It’s simple! Just ensure you meet specific prerequisites.

  • You must be a Nigerian citizen
  • Above the age of 18
  • Have a valid ID card (NIN, Voters card, etc)
  • BVN

You can easily get a Moniepoint POS once you have all the criterion above.

How to Get Moniepoint POS Machine

To get Moniepoint POS Machine, follow the steps below:

  1. Visit Moniepoint official website at https://moniepoint.com/. Alternatively, you can download moniepoint app on Google play store
  2. Look for a button that says, ‘Get a POS machine’. Click on it to begin registration process
  3. Fill out the registration form by entering your full name, Contact Number, email, and other required details.
  4. Then Select the other POS merchant service you’re working with (if any)
  5. Click on the Submit button
  6. You will need to confirm your email address and phone number
  7. Once the above is completed, an agent from Moniepoint will reach out to you within 2 days of registration
  8. The agent will walk you through on what next to do.
  9. Once you follow through, you will be fully confirmed as an agent
  10. Now you can login to your POS dashboard to manage your account

Moniepoint Daily Target

Moniepoint operates with Daily target. Their daily target is 50,000 naira. If you cannot meet this daily target, there’s another option. Just ensure you make upto 150,000 naira withdrawal transactions and you’ll be good.

If none of these is met, they will retrieve their pos from you and pay you 10,000 naira as a refund for the POS Machine.

However, you can buy money point pos outrightly so that you don’t have to worry about daily target or them retrieveing their pos from you.

Moniepoint POS charges and Commission

Moniepoint offers some of the lowest transaction fees compared to other POS providers.

Their charges are based on the number of transactions carried out. The fixed transfer charge to any bank in Nigeria is N20.

For withdrawals, Moniepoint charges 6 naira for N4,000. However, this fee increases as the withdrawal amount increases.

Unlike some other POS providers, Moniepoint does not impose any additional bank fees.

Here is a detailed breakdown of Moniepoint’s charges:

  • 0.5% of the transaction amount for withdrawals between N1 to N20,000
  • N100 flat rate for transactions above N20,000
  • N20 flat rate for transfers

In terms of data charges, Moniepoint POS offers the following commissions:

  • MTN 3%
  • Glo 4%
  • DSTv 2%
  • GOTv 2%
  • PHCN 2%
  • 9Mobile 4.5%
  • Airtel 4%
  • Star Times 2% for TV subscriptions.

Overall, Moniepoint offers some of the most affordable transaction fees in the industry.

How much is Moniepoint POS?

Moniepoint POS Machine is not for sale. You only need to pay cautionary fee of 26,500 only to get it. This means the device still remains the property of moniepoint.

If for any reason the POS is withdrawn from you, or you don’t want to use it any more, you’ll get a refund of 10,000 naira.

How to solve transaction limits

If you haven’t upgraded to a business level on Moniepoint, you may come across a transaction limit. When you reach the maximum transfer limit for the default KYC level 1, you may receive an error message indicating that “the transaction exceeds the daily transaction limit.”

To resolve this issue, simply upgrade your KYC level to a business level, and the limit will be removed. Here are the steps to follow to upgrade to the KYC business level:

  1. Go to moniepoint.com and Log in to your account
  2. Click on the menu on your dashboard and select “settings.”
  3. Go to the KYC level.
  4. Choose “upgrade” from the drop-down menu.

If you encounter any issues upgrading, you can also contact Moniepoint customer care for assistance.

All rights reserved. Do not copy, rewrite or republish this content, in part or in whole, without proper credit to the source.

About the Author: Femi Olawole

Femi Olawole is a seasoned blogger with interest on providing helpful Contents on online loan apps, Tech and Business.

10 Comments

  1. Hi, I am already into the business but the problem is for withdrawal of 5000 I am being charged 25naira which means 5naira is for one thousand naira, pls what can be done

  2. I am an agent, , have been using Moniepoint going to 2months now . I noticed I have been on 2star and I have been meeting the target for 3stars . I want to know why this cud be happening

  3. In addition to this article, please be informed that the least daily target for Moniepoint is 20k or 140k per week..

    Alternatively to applying through Moniepoint website, you can also buy terminal from a known BRM(Business Relationship Manager )

    For those in Lagos, you can reach me for your POS terminal @09067351811

    Payment on delivery.

    Note:Don’t give anyone money without seeing what you are paying for.

  4. My question is as a beginner who wants to start the moniepoint pos bus. What if am not able to reach the daily target of 50,000. What then does it mean to get the withdrawal target of #150,000

  5. Hi I just want to start the moniepoint POS business but I have a question

    If I can’t meet up with the daily target of 50,000 naira then the option of 150,000 naira withdrawal transactions should mean what? Does that mean that I must we draw 150,000 naira daily?

  6. Hi, I just want to start the moniepoint POS business but I have a question,

    If I can’t meet up with the daily target of the 50k, the option of the 150,000 naira withdrawal transaction means what? Does it mean I must withdraw 150k in a day??

Leave a Reply

Your email address will not be published. Required fields are marked *