How to Get a POS Machine in Nigeria in 2025: A Complete Guide
Are you looking for how to get a POS machine in Nigeria to start a business or support your shop, pharmacy, boutique, or supermarket? You’re not alone. With Nigeria’s economy becoming increasingly cashless, POS businesses are booming, and owning a POS terminal has become a smart move for both entrepreneurs and existing business owners.
In this comprehensive 2,000-word guide, you’ll learn:
What a POS machine is
How POS machines work in Nigeria
The best POS providers in Nigeria
Requirements for getting a POS machine
Step-by-step process for getting one
Startup costs and expected profit
Common mistakes to avoid
Let’s dive in.
Table of Contents
What Is a POS Machine?
Why You Need a POS Machine in Nigeria
How Does a POS Business Work?
Types of POS Machines Available in Nigeria
Requirements to Get a POS Machine in Nigeria
Best POS Machine Providers in Nigeria (2025)
Step-by-Step Guide to Get a POS Machine
Cost of Getting a POS Machine in Nigeria
How Much Can You Earn from POS Business?
How to Choose the Right POS Company
Mistakes to Avoid When Starting POS Business
Final Thoughts
1. What Is a POS Machine?
POS stands for Point of Sale. A POS machine is a handheld or desktop device that allows businesses or individuals to accept card payments, bank transfers, and cash deposits or withdrawals.
In Nigeria, POS machines are widely used in:
Shops
Markets
Pharmacies
Restaurants
Remote villages
Bus parks
Mobile banking businesses
2. Why You Need a POS Machine in Nigeria
The demand for POS services in Nigeria is driven by:
CBN cashless policy
High cost of ATM and bank transactions
Long queues at banks
Limited access to banks in rural areas
With a POS machine, you can:
Make money daily from commissions
Offer services like cash withdrawal, deposits, airtime, bills, and transfer
Reduce cash handling in your business
Accept card payments from customers
Serve as a mini bank for your community
3. How Does a POS Business Work?
The POS agent (you) acts as a middleman between banks and customers. Here’s how it works:
You request a POS machine from a licensed POS provider (like Opay, Moniepoint, or Palmpay).
The machine is linked to a wallet or merchant account.
You fund your wallet or terminal.
Customers come to you for withdrawals, transfers, deposits, or utility payments.
You earn a commission per transaction, which is your profit.
SEE Complete Moniepoint POS Review| Moniepoint POS Agent, Price, Charges
4. Types of POS Machines in Nigeria
There are two major types:
a. Android POS Machines
Touchscreen
Internet-enabled (WiFi/4G)
Fast and modern
More expensive
b. Mini/Traditional POS Machines
Keypad-only
Basic functions
Cheaper
Often provided free by banks or fintechs
Choose based on your business volume and budget.
5. Requirements to Get a POS Machine in Nigeria
To apply for a POS machine, you need:
A valid government-issued ID (NIN, Driver’s License, Voter’s Card)
BVN (Bank Verification Number)
A passport photograph
A utility bill (for address verification)
A functional bank account
Business location details
CAC Certificate (for registered business, optional)
Some providers may conduct a location inspection before approval.
6. Best POS Machine Providers in Nigeria (2025)
Here are the most reliable and widely used POS providers in Nigeria today:
1. Opay POS
Fast processing
Free or paid terminal
High network uptime
Low charges
2. Moniepoint POS
Best for high-traffic areas
Strong support
Durable machine
Offers loans
3. Palmpay POS
Easy approval process
Good commission structure
Offers personal and business account features
4. Baxi Box POS
Works with multiple banks
Good for rural areas
Affordable and easy to use
5. FirstMonie POS (First Bank)
Offered through First Bank branches
Good for trust and security
Requires account with First Bank
6. Kuda POS (Coming Soon Widely)
Digital bank entry into POS
Competitive charges
Others include Paga, PayCentre, Access CLOSA, Zenith POS, and Quickteller.
7. Step-by-Step Guide to Get a POS Machine in Nigeria
Here’s a typical process:
Step 1: Choose a POS provider
Research and decide on which provider best fits your needs.
Step 2: Register online or offline
Visit the provider’s website or download their agent app (e.g., Opay App, Moniepoint App). You can also visit their physical office or agent center.
Step 3: Fill the application form
Provide your details, including:
Name
Business type
Address
BVN
ID upload
Step 4: Submit required documents
Upload or present:
ID card
Utility bill
Passport photo
Step 5: Verification & Inspection
Some providers will:
Call you for verification
Inspect your shop or kiosk
Step 6: Pay terminal fee (if required)
Some providers give the POS for free (with targets), while others charge ₦20,000–₦50,000.
Step 7: Receive your POS
Once approved, you’ll receive the terminal in a few days.
Step 8: Fund your wallet
Transfer funds to your merchant account to start processing transactions.
8. Cost of Getting a POS Machine in Nigeria (2025)
Here’s an estimate:
Provider Cost Refundable? Processing Time
Opay ₦20,000–₦30,000 Yes (if target met) 2–5 days
Moniepoint ₦25,000 Yes 3–7 days
Palmpay ₦15,000–₦30,000 Yes 2–5 days
FirstMonie Free No Up to 2 weeks
Baxi POS ₦10,000–₦30,000 Yes 3–7 days
You may also need to buy a table, umbrella, or shop space.
9. How Much Can You Earn from POS Business?
Here’s a breakdown of commission earnings:
Cash withdrawal (₦1,000–₦5,000): ₦30–₦100
Deposit to bank: ₦10–₦50 per ₦1,000
Airtime & data: 2–4% per sale
DSTV/PHCN bills: ₦30–₦100 per transaction
Monthly Earning Potential:
If you do:
50 transactions/day × ₦100 = ₦5,000/day
₦5,000 × 30 days = ₦150,000/month (minus expenses)
10. How to Choose the Right POS Company
Consider:
Transaction speed and reliability
Charges and commission
POS terminal type and cost
Network coverage in your area
Customer support
Settlement time (instant, daily, or weekly)
Moniepoint and Opay are great for volume, while Palmpay and Baxi offer good agent support.
11. Mistakes to Avoid When Starting POS Business
Not researching your provider: Some POS companies delay or fail to settle agents on time.
Operating without capital: Start with at least ₦50,000–₦100,000 working capital.
Ignoring security: Keep your machine and cash secure.
Charging excessive fees: This will drive customers away.
Poor record-keeping: Track every transaction and your earnings.
12. Final Thoughts
If you’ve been asking, “how to get a POS machine in Nigeria?”, this guide has given you all the answers. The POS business is one of the most profitable low-capital businesses in Nigeria in 2025. With the right approach, provider, and location, you can make steady daily income and even grow to manage multiple terminals.
Whether you’re starting afresh or adding a POS machine to your shop or pharmacy, the opportunity is massive. Start now and build your way to financial independence.