Moniepoint POS Machine Price (Current Price)

While there are many POS machines used for POS business and receiving payments in different establishments across Nigeria, the Moniepoint POS terminal is one of the most popular POS machines that is widely used in every nuke and cranny of the country.

Although getting a Moniepoint POS machine is hassle-free, you’re expected to pay a certain amount of money before you can get the terminal. However, it is important to note that you can’t buy the POS terminal since Moniepoint doesn’t sell their POS machine; they only lease it to interested individuals who apply for it.

So, the Moniepoint POS price that we are going to outline in this article is not the price for buying the terminal outright, but the price for leasing it from Moniepoint. Hence, even if you pay this money, Moniepoint can still retrieve their terminal from you if you fail to meet their terms.

Requirements for Getting Moniepoint POS Machine

Moniepoint POS Machine Price

Before you can get a Moniepoint POS machine, there are certain requirements/documents that must be handy to enable you to get the machine with ease. The requirements are outlined below:

1. Valid Means of Identification

To get a Moniepoint POS machine, you must have valid ID card, such as driver’s license, voter’s card, International passport, National ID, etc.

2. Existing Business

An existing business with a specified location is needed before you can get the Moniepoint POS machine.

3. Capital

Before you apply for a Moniepoint POS machine, it is best to have a start up capital, especially if you want to use the machine for POS business, but if you want to use it to receive payment from your customers, then there is no need for capital.

4. Functional Bank Account with BVN

You will also need an active bank account, which you will use for transferring and receiving funds.

5. Phone

You will also need a smartphone so that you will be able to access the Moniepoint mobile app with ease when using their POS machine. 

6. Age

To get the Moniepoint POS machine, you’re expected to be at least 18 years old.

7. Contact Information

Moniepoint will also request your contact details before you can get their POS machine.

Moniepoint POS Machine Price in Nigeria

The price of the Moniepoint POS machine is set at N21,500. This means that you can lease the POS terminal for N21,500. As we noted in the introduction, you can only lease the Moniepoint POS machine; you can’t buy it.

So, this money is not for purchasing the terminal; it is for a caution fee, logistics, and insurance.  The breakdown of the Moniepoint POS machine price is;

  1. Caution fee – N10,000
  2. Logistics – N10,000
  3. One-year insurance – N1,500.

From the breakdown above, we have seen how the N21,500 was broken down. So, you’ve seen that you only paid for insurance, logistics, and a caution fee; hence, the POS machine was leased to you. In all, Moniepoint reserves the right to retrieve the POS terminal from you whenever you go against their policies.

Conclusion

The price of the Moniepoint POS machine is pegged at N21,500. This price is not for purchasing the terminal since Moniepoint doesn’t sell their POS machine; they only lease it to interested individuals. So, the money you will pay when applying for the POS machine is for logistics and caution; hence, Moniepoint can retrieve the terminal from you anytime you go against their policies.

Leave a comment