The Moniepoint POS machine has become one of the most sought-after tools for entrepreneurs looking to tap into the booming POS business in Nigeria. With cashless transactions growing daily and many Nigerians depending on agent banking for their financial needs, choosing a reliable POS provider is critical, and Moniepoint is a name that continues to dominate this space.
Whether you’re just hearing about the Moniepoint POS or you’ve been researching the best way to get started, this guide will walk you through everything you need to know, from the different types of Moniepoint POS machines to their pricing, charges, daily targets, and how to get one quickly and start making money.
If you’re serious about launching or scaling your POS business, understanding how the Moniepoint POS machine works will give you a competitive edge.
So, what are you waiting for? Grab a seat, relax, and continue reading!
Also Check: Money Lessons I Wish I Knew Before Starting My First Business
About Moniepoint POS
Moniepoint is a leading financial technology platform in Nigeria that provides payment solutions for businesses and individuals. It is licensed by the Central Bank of Nigeria (CBN) and trusted by thousands of agents across the country. The Moniepoint POS machine is a powerful device that allows users to perform basic banking transactions such as cash withdrawals, transfers, airtime and data purchases, and utility bill payments.
What sets Moniepoint POS apart is its reliability, speed, and strong network performance. Unlike many other POS providers, Moniepoint offers a seamless user experience, even in rural or network-challenged areas, making it a preferred choice among POS agents in Nigeria.
In addition to offering competitive transaction charges and high success rates, Moniepoint also provides access to a robust agent platform, detailed analytics, and round-the-clock customer support. These features make the Moniepoint POS machine not just a tool, but a full business solution for anyone looking to earn through agency banking.
Also Check: Why Most Nigerians Think Money Is Evil — And How It Holds Us Back
Types of Moniepoint POS Machine
Moniepoint offers different types of POS machines to suit the varying needs of its agents. Whether you’re operating in a busy city center or a remote village, there’s a Moniepoint POS machine that fits your business model. Below are the main types currently available:
Do You Know?
- We offer expert financial advisor services that can help you achieve your goals.
- We help individuals gain financial freedom.
- We mentor individuals to become successful entrepreneurs.
- We coach or mentor individuals in various digital skills (such as Cybersecurity, Web Design and Development, content creation, Mobile App Development, Data Analysis and Data Science, Digital Marketing, etc).
1. Android POS Machine
This is the most advanced and widely used Moniepoint POS device. It features:
- A touchscreen interface (similar to a smartphone)
- Built-in printer for receipts
- Fast processing speed
- Intuitive navigation
The Android POS is ideal for agents with high transaction volumes or those who want a premium user experience.
How much is Moniepoint Android POS? We will discuss the price as we move further!
2. Traditional POS Machine
Also known as the keypad POS, this model features:
- Physical buttons
- Small screen
- Built-in printer
- Long battery life
It’s durable and simple, making it suitable for beginners or low-to-mid-volume transaction agents.
3. Mini POS Device (If Available)
Moniepoint occasionally offers a smaller, mobile-friendly POS that connects to smartphones via Bluetooth. While less common, it’s perfect for agents on the move or those who want something pocket-sized.
Note: Availability of these POS types may vary depending on your location and Moniepoint’s current stock.
No matter the type, every Moniepoint POS machine comes with a dedicated dashboard, strong transaction success rates, and access to customer support.
Also Check: Why Your Financial Struggles Are Not From Village People
How Much is Moniepoint POS?
One of the most common questions asked by new agents is: How much is Moniepoint POS? The cost is relatively affordable compared to many other POS providers in Nigeria, and Moniepoint operates on a refundable caution fee model.
Current Moniepoint POS Machine Price:
- ₦21,500 caution fee (as of the latest update)
- This is refundable if you return the POS device in good condition after a period of inactivity or contract termination.
- In some cases, Moniepoint may run promotions or price adjustments based on your location or partner aggregators.
Are There Any Hidden Charges?
No, Moniepoint is transparent with their pricing. However, it’s important to note that you’ll still pay transaction charges per use (which we’ll cover in the next section).
Is the Moniepoint POS Machine Free?
No, it is not free, but the ₦21,500 you pay is a caution fee, not a purchase price.
The device still remains the property of Moniepoint, but you get full access to use it as long as you’re an active agent.
Tip: Always apply through the official Moniepoint website or a verified aggregator to avoid scams or inflated prices.
Akso Check: The 7 Worst Money Habits Nigerians Need to Unlearn
How to Get Moniepoint POS Machine
Getting a Moniepoint POS machine is a straightforward process, especially if you follow the official procedure. Whether you’re a first-time agent or switching from another provider, the steps are simple and fast.
Step-by-Step Guide to Get Moniepoint POS:
Step 1: Visit the Official Moniepoint Website
- Go to www.moniepoint.com
- Scroll down a bit or navigate to the Point of Sale Terminal section and click on “Open an account” to get started.
Step 2: Fill the Application Form
If you are already a user, simply log in to continue. Otherwise, follow up with the filling of the form process and provide all the necessary information.
Some of the requested information includes phone number, full name, email, and location. Also, choose your state and local government area so Moniepoint can assign an aggregator close to you
Step 3: Submit Required Documents
You’ll need:
- A valid government-issued ID (NIN, Voter’s Card, Driver’s License, or International Passport)
- Utility bill (not older than 3 months)
- Passport photograph
- BVN (for verification only)
Step 4: Wait for Aggregator Contact
- After submitting your form, a Moniepoint field officer (aggregator) will contact you
- They will schedule a meeting to verify your location and give you orientation
Step 5: Pay the Caution Fee
Once verified, you’ll be asked to pay the ₦21,500 caution fee. After payment, your POS machine will be delivered or handed over to you
How Long Does It Take to Get the POS?
The entire process can take 2–5 working days, depending on your location and response time.
Alternative Method:
You can also walk into a Moniepoint office or authorized partner center to register physically and apply directly.
Important: Do not pay any fee to third parties unless you’ve been officially contacted by a Moniepoint staff or verified aggregator.
Also Check: The World Is Changing Fast! 5 Powerful Reasons You Must Learn a Digital Skill Today
Moniepoint POS Charges and Commission Structure
Understanding the Moniepoint POS charges is crucial if you want to run a profitable POS business. Moniepoint offers one of the most competitive and agent-friendly fee structures in Nigeria, which is why many agents prefer it over other providers.
Moniepoint POS Withdrawal Charges
These are the fees deducted when customers withdraw cash through your POS:
| Amount Range | Charges (₦) |
|---|---|
| ₦1 – ₦4,500 | ₦6.20 flat rate |
| ₦4,501 – ₦25,000 | 0.6% of the amount |
| Above ₦25,000 | ₦150 flat rate |
Example:
If a customer withdraws ₦10,000:
- 0.6% of ₦10,000 = ₦60
You earn the difference between what you charge the customer (e.g., ₦200) and Moniepoint’s fee (₦60) — your profit.
Transfer Charges (to Bank Accounts)
- ₦20 per transfer to any Nigerian bank.
- You may charge customers ₦50–₦100, depending on your area.
Airtime & Utility Bill Payments
- Zero or minimal charges from Moniepoint
- You earn commissions for every transaction:
- Airtime/Data: up to 3%
- Cable TV, Electricity, etc.: between ₦20–₦100 per transaction (varies)
POS Machine Maintenance or Inactivity Fee
- Moniepoint may deduct a fee or reclaim the device if inactive for a long time (e.g., no transactions for 30+ days)
- No daily maintenance fees if actively used
Why Agents Prefer Moniepoint’s Charges
- Transparent and easy to calculate
- No hidden deductions
- Higher earning potential, especially on high-volume withdrawals
Tip: To maximize profit, set your customer charges slightly above Moniepoint’s rate — while staying competitive in your area.
Also Check: Top 10 Fast-Growing Businesses in Nigeria with High Profit Potential
Moniepoint POS Daily Target
If you’re considering becoming an agent, it’s important to understand whether there’s a Moniepoint POS daily target you must meet to keep your machine active or avoid penalties.
Does Moniepoint Have a Daily Target?
Technically, Moniepoint does not impose a strict daily transaction target on its agents. However, they expect agents to remain active. Inactivity for a long period (typically 30 days or more) may result in:
- Deactivation of your POS machine
- Retrieval of the POS device
- Loss of your agent account privileges
What Does “Active” Mean?
Being active simply means performing regular transactions such as:
- Withdrawals
- Transfers
- Airtime or bill payments
There’s no fixed number of daily transactions required, but consistently low activity over weeks may raise a red flag.
What Happens If You Don’t Meet Expectations?
- You may receive a warning or call from Moniepoint support
- Your commissions may reduce if your usage is very low
- In extreme cases, your POS may be taken back
Tips to Stay Active and Profitable
- Position your kiosk in a busy area (near banks, markets, or bus stops)
- Promote additional services like airtime, bills, and betting payments
- Offer good customer service to retain and attract more users
Pro Tip: If you’re going to be inactive for a while (e.g., travel or illness), inform your aggregator or Moniepoint support ahead of time to avoid device retrieval.
Also Check: Top 10 Safe Investments With High Returns in Nigeria
Pros and Cons of Using Moniepoint POS
Like every POS provider, Moniepoint POS machines come with their advantages and a few limitations. Understanding both will help you make the right decision before committing your time and money.
Pros of Moniepoint POS
1. High Transaction Success Rate
Moniepoint is widely known for fast and reliable transactions, even in rural areas with weak networks. This reduces failed transactions and customer complaints.
2. Low and Transparent Charges
With as low as ₦6.20 for small withdrawals and 0.6% on mid-range transactions, you get a better margin than most other POS providers.
3. Easy Onboarding Process
Signing up for a Moniepoint POS machine is simple and doesn’t require a bank reference or huge capital.
4. Responsive Customer Support
Agents have access to 24/7 support via WhatsApp, call, and email. Their field aggregators are also usually quick to respond.
5. Extra Earning Opportunities
You can earn from multiple streams: airtime, data, DSTV/GoTV subscriptions, electricity bills, and even paying taxes or betting platforms.
6. Secure and Easy-to-Use Platform
The POS machine and agent dashboard are user-friendly and come with security features like PIN protection and real-time reports.
Cons of Moniepoint POS
1. Device is Not Permanently Yours
You’re paying a caution fee, not buying the device. It still belongs to Moniepoint and can be withdrawn if misused or inactive.
2. Limited Availability of Device Types
In some locations, you may not have access to all POS machine types (e.g., Android POS may not be available at the moment).
3. Inactivity Penalties
While there’s no strict daily target, long-term inactivity could result in device deactivation or loss.
4. Delays in Device Delivery
Depending on your area and aggregator, there may be a delay of a few days before your POS is delivered.
Also Check: 10 Hidden Business Opportunities in Nigeria You Can Start Today
Final thoughts
The Moniepoint POS machine stands out as one of the most reliable and profitable options for anyone looking to start or expand a POS business in Nigeria. With its low transaction charges, fast processing speed, responsive support, and strong network coverage, it’s easy to see why thousands of agents across the country trust Moniepoint.
Whether you’re curious about the types of Moniepoint POS machines, the cost, daily targets, or how to get one, this guide has provided all the answers you need to make an informed decision. The onboarding process is straightforward, the platform is secure, and the earning potential is high — especially when you stay consistent and active.
If you’re ready to enter the agent banking space and want a partner that offers both performance and support, getting a Moniepoint POS could be your best move.