Top 5 Best POS Machine In Nigeria And How They Works (2022 List)

Are you planning to start a POS business? If yes, I am going to show you list of the best POS machine in Nigeria, their price, charges and how they works.

Over the years, POS business has grown to become one of the most profitable businesses to start in Nigeria.

POS business is also one of the fastest moving business in Nigeria. A lot of students on the other hand set up POS businesses around institutions where the demand for POS is high.

In this article, we have decided to discuss the best POS machine in Nigeria, it is already a fact, starting a POS business is a profitable business.

But another important thing that everyone considers at the stage of setting up their POS business is “What is the best POS machine in Nigeria?

Well, to answer the rhetorical questions, it is also a fact that there are many means and types of POS that one can get today to start the POS business.

For example, there are banks that give POS to their customers, POS can also be ordered online from online shops, it can be purchased from the market and there is also a company in Nigeria which gives out POS free to its customers.

As there are several types of POS one can get and use, then this subject of which POS is the best will always come to mind.


What you will get when you read this post on “best POS machine”.

We are going to discuss some important information relating to getting a very good POS machine for those who are just starting the POS business.

As you may already know, a POS (Point Of Sale) machine or what most people refer to as a POS terminal, in Nigeria, is a very great gadget that allows organizations to make and receive payments directly from the customer’s ATM card, for a small amount or processing fee.

So we will cover which best is best, this will help you start your POS business effectively, while most POS terminals are given by banks, they can also be gotten from other sources and in this post, we will discuss how all possible type of POS machine works.

For the record, the POS terminal was presented by the Central Bank of Nigeria in 2012 as a feature of its plans to uphold the cashless policy that was introduced then by banks all over Nigeria.


Individuals are now using the POS terminals to facilitate their business by helping people do financial transactions, the POS terminal has become a fundamental machine at any store or business that accepts card payment.

Therefore in this article, we will examine some significant aspects of the POS machines available in Nigeria, in regards to the advantages of owning a POS machine.


Some of the things we would evaluate while discussing the best POS machine in Nigeria.

To give you a good idea of the best POS machine in Nigeria, we are going to discuss some aspects on which this article will base its evaluation on, that way you will know what to look out for when making a purchase or opting for a POS machine to start or scale your business.


Some of those things are as follow;


  1. We would evaluate the popular brands and what kind of POS machine these brands offer:

To determine and present a well-structured list of the most reliable POS to use in Nigeria, we are going to analyze the brand equity of this POS machine.

From careful research and according to the Wikipedia website, some of the famous brands that produce POS terminals are VeriFone, Hypercom, and Ingenico.

In this light, getting a POS machine in Nigeria can sometimes be in the bank, bought or gotten from companies who make’s it available free to its customers.


These brands offer basic Mastercard payment to the handling of more complex payment, like sending payments to other accounts, in actuality.

Getting a POS don’t come free and even companies like Opay who gives out this POS free to its customers have a system and a means of meeting base on their business.


The majority of the banks in Nigeria offer POS machines and support to their customers, such as firstmonie from the first bank.

You may however be required by the bank providing you with this service to make a few POS charges to the bank for each effective payment you acknowledge with the utilization of the machine.


  1. We would evaluate the best POS machine base on the price:

Another thing we looked at when determining the best POS machine in Nigeria is the price it is been sold out or offered.


To get a POS machine, you can order it online, however, getting a POS machine in Nigeria from most organizations is free, if you get yours from one of the legitimate banks in Nigeria or from OPAY.


In the event, it is important to also know what banks who give out the POS machine free tend to acquire from giving you the POS machine at no cost, this is one of the points we would portray when analyzing the best POS machine in Nigeria:

Any organization offering POS machine to its customers make their money on the long run by charging a decent transaction fee.

(somewhere in the range of 0.25% and 1.5%, depending on the bank or even N100 fixed fee for most banks) per payment done through every POS terminal that you got.


To get a POS machine from any bank in Nigeria, usually, all you need is to have an account (ideally current or business account) with the bank.

A few banks however will let you get the POS machine if all you have with them is a savings account on certain conditions.


Remember, while POS machines can be obtained free in most banks and companies within Nigeria, some will require you to get them at a one-time expense fee.

These vendors/providers don’t charge you for payments since you would have paid for the machine beforehand.


  1. Ease of use:

The last thing that we will use to evaluate the best POS machine in Nigeria is the ease of use, not all POS machines are operated the same, some are touch screens and some are buttons, and yet some have both.


Knowing how easy it is to make transactions on these machines will help you determine which of the POS machines to get.


With the points discussed above….


You will be able to determine which POS machine will be best for your business, now let’s dive into the next section of this article.


List of best POS machine in Nigeria

Best POS Machine in Nigeria

In summary, these are the best POS machines in Nigeria according to concise research;


  1. Opay POS machine
  2. Moniepoint POS machine
  3. Baxi box POS machine
  4. Kudi POS machine
  5. Dataway POS machine.


It is important to know that the list of pos machines/system is endless, there are so many POS machines people can get for the POS business.

Some come in handy in a very small size, and some are big, the interesting fact is that new ones are coming out consistently.

In any case, how effective is their service, that is the question to ask, and since it is one of the most important things that ought to be asked before the time of getting any of these pos terminals.

We are going to look again into the list of best POS machines that we presented The point of in this article we are going to list the best POS and the service offered including how the transaction fee looks like?

To know which one to pick when starting your pos business, use the information we have conveyed.

In the list we presented, we thought it would be helpful for you to know that there is some offline POS machine in Nigeria,

Such POS does not demand that you are connected to a WIFI connection to have it work, for such POS you can visit Aliexpress or Amazon to buy time.

Why they may come at a more expensive cost, they are sure to be one of the best in service. These sites have dealers who probably purchased their POS machines from China.

I haven’t utilized any of these but we have based our research based on people who have used any one of these POS.


1. How Opay POS machine work:

Opay is one of the organizations in Nigeria that give POS machines free to people upon request and we consider it currently the best POS machine in Nigeria.

The organization just expects you to download their application from the play store or on the Apple application store, fill the mandatory form that will be required from you.

After following the due process that the company asks of you then you will be called to discuss where and when you can collect your POS machine.

For more insight on how to apply and get the free Opay POS, you can go through our guide on How To Apply For Opay POS Machine In Nigeria.

That being said, the organization will charge a certain transaction fee for every successful transaction and this is usually not on the high side.


2. How Moniepoint POS machine works:

Moniepoint POS is likely the easiest to use POS machines in  Nigeria and their POS is one of the most used POS all over Nigeria by many businesses.

POS terminals are sent to people who have been screened thoroughly with a system called Know Your Customer (KYC).

The significant level KYC has now guaranteed the security and unwavering quality of Moniepoint and the others.

We also noticed that their charges are not ludicrous as with regards to execution it’s a first-class POS machine.

The initial step to getting a Moniepoint POS machine is by going to their site (

You are to fill in certain forms concerning yourself and the structure of your business, this is to say that you are relied upon to have a place where your business is located (business area) before your application will be approved.


3. How Baxi box POS machine works:

Baxi box gives out truly outstanding and most easy to use offline working and online POS machines in Nigeria, they are also one of the best POS machine in Nigeria.

Getting the POS machine is not so difficult and anyone ready to start a POS business can easily get one, All you have to do is follow a few steps to get your POS machine.

The machines are not very complicated to use and they work without a network, and you will get commissions when individuals do payments on the POS machine.


Baxi Box takes around 0.65% in charges when you complete a withdrawal. So you may need to manage to charge higher rates to clients when a huge amount of cash is being removed.

While I think this is a detriment for this POS business, It is also important for you to have the option to get around it by including like 50 Naira for every 1000 Naira that your customers withdraw.


4. How does the kudi POS machine work:

Kudi is also one of the most famous POS machines used in Nigeria that makes internet banking and payments easy, Kudi POS machine over the years has been an effective POS terminal that people use in Urban and rural areas.

The POS machines are free. Nonetheless, you will need to pay a security deposit/caution fee of N20,000 and also provide an end-of-day transaction report or statement of account to prove that you can meet the transaction target on the POS terminal.


With Kudi POS machines people don’t need to pay a huge sum of money to get P.O.S machines for facilitating financial transactions.

At the same time, buyers presently have a system that incorporates the entirety of Kudi usage.

And at the very best, Kudi keeps a safe record of financial transactions carried out on the POS machines.


5. How Dataway POS machine works:

POS machine

Dataway POS is one of the cheap POS machine in Nigeria currently that is very affordable. It has the best network, fast customer care service and the best charge rate.

Dataway charges 0.6% for withdrawals from N100 to N10,200. And a flat rate of N100 for withdrawal from N10, 201 to N200,000.

Before you can apply for dataway POS machine you need to first register, it is after the registration before you can be able to request for the POS machine from your dashboard.

The registration fee is N2,000 only, dataway has both mini POS terminal and Android POS machine that are easy to use.


Other things you should consider also to determine the best POS machine for you:


You can pick a POS machine outside our presented list in case you think there are other better POS machines in Nigeria that you can use for your POS business;

we have decided to also give you the following things to consider so that you do not end up getting a POS that would affect your business.


The cost will be a factor just as the requirements of starting any business. The following also ought to be thought of:


  • What type of payments are you in need of POS for Apart from people who use POS to make payments via Credit cards, most people also use it for electronic payments, in any case before you begin to search for a POS machine, analyse the kind of payments you want to deal with.


Credit cards payments in most POS machines generally incur a transaction charge.


With a POS machine, people can send money to other bank accounts electronically. POS terminal setup can be modified to accept debit cards or just make payments.

POS machines in Nigeria must be able to make transactions from a VISA card, Masters Card and Verve cards.

To have the option to charge debit cards on your POS machine, your machine needs to have a keypad that allows customers to enter the pin of their cards.


  • Buying or renting: There is another possibility for people who do not have so much money, they can rent or get it for free and the service will always depend on the organization you are getting your POS from. You might decide to purchase the machine and avoid transaction fees.


Other companies will rent you a POS machine on certain conditions.


  • Getting simple to use POS machines: Another thing many people also consider when getting a POS machine is the ease of use, so this should be one of the things to check when buying or getting a free POS machine, your POS machine must be fast and efficient, it if takes time to respond then most customers will not be able to wait for you which will be bad for your business.


So try to get a POS machine that works smoothly.


  • Cost of Usage: You need to also be aware that the expense of utilizing a POS machine in Nigeria comes at different rates. If for example, you got a POS machine from banks, for each successful transaction, the bank removes a transaction fee and the fee varies upon banks.


Having known this will help you when searching for the best POS machine in Nigeria.


  • How strong is the battery of the POS: POS machines need to be charged for them to continue working, if you get a POS machine with a battery good you will be forced to keep charging it and this might be very bad for your business if it is not available at the time of need.


  • What type of network does it use: POS machines need network connections to work so you might have to think about this too, examine the network of the POS and then you can decide if it will work for you



You now have the list of the best POS machine in Nigeria, what to look out for when getting a POS machine and how they work; we hope you have gained enough insights from this post, wishing you the best in your business.

Remember to comment if you find this post useful.

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