How Much Is Pos Machine In Nigeria? If you want to know the cost of is a POS machine in Nigeria or are you searching for the latest prices for the POS machines, you are on the right track; coz here in this article we will be walking you through everything you need to about getting a POS machine in Nigeria.
There was a period in the past of commerce and trade that which one needed to carry a large number of yams for goats. The times changed and the payment method used was snails. In the following years, coins and paper money were used to make transactions. In this 21st century, all you have to do is take out a credit or debit card and select a couple of numbers and you’ll be able to complete your transaction.
A Point of Sale (POS) terminal, commonly called in Nigeria a “POS machine”, is an electronic device that allows businesses to accept credit card transactions. The majority of payment terminals are issued by banks. It was launched through the Central Bank of Nigeria in 2012 as a part of the policy to make cashless transactions mandatory in all financial transactions across the country.
The point-of-sale terminal has become a necessity to accept electronic credit cards at every business or retail store. This article on how much is pos machine in Nigeria will discuss some of the key factors regarding the advantages of selecting POS machines as well as the process of choosing the best products and the price range they are available.
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Why should you choose the POS machine?
In contrast to the conventional POS system, where the employee must enter the amount when the customer is making a purchase and this POS system is a more modern ATM design, with greater functionality. The POS system makes use of its database system to process transactions. When you input item codes the price will be instantly displayed, as well as that you purchase, as well as the inventory levels are tallied. Handheld devices are a cutting-edge technology that allows employees to conduct transactions anywhere in the shop.
It is important to consider the other advantages of smarter mobile computers that can improve the quality of service your staff members can offer.
POS machines ease the burden of transfer of money from point-of-sale to the bank. Also, it eliminates the threat of theft or loss associated when carrying cash across the nation. POS machines remove the hassle of cashing checks and the delays in processing transactions on checks.
Easy to use
POS machines are simple to operate. They can easily read credit cards, and the transaction is then processed for approval. In the end, the use of the machines reduces operating expenses and makes the entire system more efficient. These kinds of machines help you keep track of sales and process them quickly.
Instant payment confirmation
If you are a business owner, you will be able to immediately confirm the purchase of products and services into your account at the banks. When a transaction is completed and it will be confirmed by the POS machine will offer counters to the client who will then be informed of the transaction. They will also ensure the customer that they’ve paid exactly what they should and will receive the correct amount if they prefer to pay with cash.
How Much Is Pos Machine In Nigeria: Popular Brands
Some of the top brands that manufacture POS terminals are VeriFone, Hypercom, and Ingenico. They offer anything from simple credit card processing to more sophisticated models. The purchase of a terminal for payment is totally free.
The majority of banks in Nigeria offer POS assistance and services to existing customers of their accounts. The only requirement is to pay a fee in exchange for every transaction you make using the machine.
How Much Is Pos Machine In Nigeria?
As we mentioned earlier that getting a POS device in Nigeria is completely free so it is purchased through one of the most reputable commercial banks that operate in Nigeria.
If you are wondering how much is pos machine in Nigeria for the bank to provide you the machine at no cost know that the bank that issued the machine earns cash in the long run by charging a fixed fee (between 0.25 percent to 1.5 percent, based upon the institution) for every transaction made through any POS terminal.
To be able to get a POS at the bank of your choice, you have to have an account (preferably one that is a business or checking account) at the institution. Certain banks are even ok with an account in savings with them.
But, remember that there are a variety of companies that offer POS machines at a one-time cost. They will not be charged for any transaction since you have paid in advance for the equipment.
Purchase a POS machine from Nigeria
If you’ve decided to set get a POS machine, the next thing to consider is what type of machine to choose. Of course, the question of how much is pos machine in Nigeria is an important factor in addition to the demands of your company.
Consider the following:
Payment Types; before searching for a POS machine it is important to identify the payment methods you would like to manage with it. Transaction fees are typically assessed for various kinds of debit card transactions.
Electronic Check Conversions can process checks made of paper electronically. POS terminal software can be modified so that it accepts loyalty cards. ATM cards function like credit and debit cards. In order to process debit cards, the machine needs keys to process the customer their individual ID numbers (PINs).
Lease or buy If you prefer, you can purchase a brand fresh cash register. There are used machines accessible if you’re trying to stay within your budget. Another option is to hire a POS device or lease one.
The character of your customers – which kind of customer visits your establishment, are the customers who were attracted to debit cards? Or are they just ordinary people who have no idea of any kind of technology?
Usage Cost – It is important to understand the expenses associated with making use of a POS machine within Nigeria. If you buy a POS machine, you will be required to pay a certain amount in the amount of each successful transaction, or any payment that is accepted with the help of the machines. The cost of transactions varies between banks.
Power Supply – This POS equipment is powered with electricity because it is equipped with a rechargeable battery.
Network availability – POS machines require the internet for operation, which means you should consider the availability of networks in your workplace. Problems with networks can be very annoying and disrupting for business.
Conclusion – How Much Is Pos Machine In Nigeria?
For the bank to provide you the machine at no cost know that the bank that issued the machine earns cash in the long run by charging a fixed fee (between 0.25 percent to 1.5 percent, based upon the institution) for every transaction made through any POS terminal.
To be able to get a POS at the bank of your choice, you have to have an account (preferably one that is a business or checking account) at the institution. Certain banks are even ok with an account in savings with them.