Moniepoint POS Agent – Moniepoint, a mobile money merchant operating in Nigeria, utilizes Point of Sale (POS) machines as their primary devices for transactions and collections. Moniepoint deploys POS devices to agents who undergo a stringent Know Your Customer (KYC) process, ensuring enhanced security and reliability. Through this innovative approach, Moniepoint offers agents the opportunity to become neighborhood “mini-banks” and earn commissions.
Growing rapidly as a Fintech company in Nigeria, Moniepoint is actively exploring expansion possibilities across other regions in Africa. In this article, we address key inquiries about Moniepoint and the process of obtaining a POS terminal for withdrawals, transfers, deposits, and more.
Moniepoint POS Agent Eligibility
To qualify for a Moniepoint POS, you need to meet the following criteria:
- Be 18 years old or above
- Be a Nigerian citizen
- Possess responsiveness and tech-savviness
- Own a smartphone
How to Apply For MoniePoint POS Machine
Obtaining a Moniepoint POS machine is a straightforward process, making it one of the easiest agency banking POS options in Nigeria. Follow these steps to get started on www.moniepoint.com;
- Visit the Moniepoint website and click on “Get Started.”
- Provide your full name, email, phone number, and other necessary details.
- Select any other POS merchants you are currently working with, if applicable.
- Submit your application.
Within 48 hours of signing up, an Aggregator—an officer responsible for a cluster of agents—will contact you to guide you through the subsequent steps.
Alternatively, you can visit their office located at No.12 Wole Ariyo St, Lekki Phase 1, for a swift process once you are assigned to an aggregator.
Moniepoint POS Agent Registration Requirement
To complete the Moniepoint agency banking registration and fulfill the KYC requirements, you will need to provide the following documents to your aggregator:
- A valid identification card (International Passport, NIN, Voters’ Card, or Driver’s License)
- Utility bill (waste bill, electricity bill, land-use charge, water bill, or tenancy agreement)
- CAC documents (for registered businesses only)
- BVN (Bank Verification Number)
- A standard account number in any commercial bank.
Download the Moniepoint App
For Android users, the Moniepoint App can be downloaded from the Play Store. However, please note that the app is currently unavailable for Apple devices (iOS).
Moniepoint POS Machine Cost in Nigeria?
The application fee for a Moniepoint POS machine in Nigeria is N20,000 (Twenty Thousand Naira only). Upon successful application, the timeline for receiving the POS device is usually 24-48 hours.
Moniepoint POS Commission Structure
Moniepoint’s charges and commission structure for POS transactions vary based on the transaction volume conducted through the terminal. Here are some examples of the commissions and charges:
- For withdrawals of N1-N20,000, Moniepoint charges only 0.5% of the transaction amount.
- For transactions above N20,000, Moniepoint charges a flat rate of N100.
- For transfers, Moniepoint charges a flat rate of N20.
In addition to these, there are specific commissions for data top-ups and TV subscriptions, including various network providers like MTN, Glo, 9Mobile, Airtel, DSTv, GOTv, PHCN, and Star Times.
Rules for Moniepoint POS Usage
When using the Moniepoint POS, there are certain rules to follow, which may vary depending on your location. These rules include:
- A minimum daily withdrawal value of N80,000 (Eighty Thousand Naira only).
- A requirement of at least four deposits per day.
Furthermore, if an aggregator has any valid reason to withdraw your POS device within a year of issuance, you will receive a 50% cashback of the N20,000 paid during registration.
Support for POS Device Issues
As a Moniepoint agent, you can rely on timely settlements and dispute resolutions, ensuring that issues are promptly resolved. An assigned engineer from the aggregator will be available to address any concerns or technical difficulties you may encounter. Additionally, you will be added to a WhatsApp group with fellow agents, facilitating idea-sharing and problem-solving.
For any inquiries or assistance during the application process, you can contact Moniepoint via WhatsApp at +2348141500017 or email at email@example.com. Moniepoint’s physical office is located at 12 Wole Ariyo St, Lekki Phase 1, Lagos, Nigeria, and their working hours are from 9 am to 5 pm on weekdays.
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Moniepoint POS Agent FAQs
Q. How do I qualify to apply for a Moniepoint POS in Nigeria?
A: To qualify, you need to be 18 years old or above, a Nigerian citizen, responsive and tech-savvy, and own a smartphone.
Q. How do I request a Moniepoint POS machine?
A: You can request a Moniepoint POS machine by signing up on their website, contacting an Aggregator, or visiting their office in Lekki Phase 1.
Q. What documents are required for Moniepoint agency banking registration?
A: You will need a valid Identification Card, utility bill, CAC documents (for registered businesses), BVN, and a standard account number in any commercial bank.
Q. Where can I download the Moniepoint app?
A: The Moniepoint app can be downloaded from the Playstore for Android devices. It is not yet available on Apple devices (iOS).
Q. How much does it cost to apply for a Moniepoint POS machine?
A: The application fee for a Moniepoint POS machine is N20,000 (twenty thousand naira).
Q. When will I receive the POS device after applying?
A: The timeline for receiving the POS device is 24-48 hours from the time of application.
Q. What are the Moniepoint POS charges and commission structure?
A: Moniepoint POS charges and commission vary based on transaction volume. For withdrawals, there is a percentage charge or a flat rate, while transfers and other services have specific commission rates.
Q. Are there any rules for Moniepoint POS usage?
A: Yes, there are rules such as a minimum daily withdrawal value, a minimum number of deposits per day, and the possibility of cashback if the POS device is withdrawn within a year.
Q. What should I do if I have an issue with the POS device?
A: Moniepoint provides prompt support and dispute resolution. An assigned engineer and a WhatsApp group of agents can assist with any issues or challenges.
Q. How can I contact Moniepoint for assistance?
A: You can contact Moniepoint via WhatsApp at +2348141500017 or email at firstname.lastname@example.org. They also have a physical office in Lekki Phase 1, Lagos, open on weekdays from 9 am to 5 pm.