Top 20 Cheapest POS Machine In Nigeria (Price And Charges 2024)

Will you like to know the cost of POS machine in Nigeria? So you can buy the cheapest POS machine with strong battery.

POS machine is one of the most advanced payment accepting machine that enables people to perform financial transactions using there credit or debit card.

This has been helping business owners to make more sales since people do no longer prefer going out with much cash again rather they now prefer going to the market with their debit card.

Most individuals has been finding it very difficult to get this POS machine for their business but, getting it is not too difficult, they do not know how, and where exactly they can get it and the major requirement to get the POS machine.

However, I am here to facilitate your process of getting it by showing you different types of POS machine in Nigeria, Best POS machine and the cheapest POS machine in Nigeria that you can start using for your offline businesses.

But wait!

These are what I will be pointing out here;

• Requirements for getting POS machine in Nigeria.
• Where you can buy POS machine in Nigeria.
• POS machine suppliers in Nigeria.
• POS machine price in Nigeria.
• Cheap POS machine in Nigeria.
• Best POS machine In Nigeria to use for your business.

Technology has turned our society into cashless era where by people can easily go to the market to buy anything without going with cash and pay using their ATM card.

Trust me, this will help your business to boom and you need to try and get the POS machine now that you have the opportunity.

 

What are the requirements for getting a POS machine?

Different financial institutions has there own major requirements that you need to meet before they can offer you POS machine.

Some provide you with free POS machine while for others you need to pay for the machine before they can give it to you.

Some bank like Fidelity bank may tell you that before you can qualify to get POS machine from them that you need to start generating some huge amount of money monthly in your account before they can be able to offer you the point of sales machine.

How to get POS machine from first bank; just walk into the bank and ask for retail department or marketing associate once you see the person incharge just tell the person that you want to apply for POS machine, you will be given a form to fill.

Requirements:

You must have a valid account that is linked correctly with valid BVN, on the form that you will been given you will fill your details and sign an agreement with them.

Wait for one or two week before you go and get your machine by then it will be ready.

But for banks like GTB and Zenith bank, you must have a valid current account in not less than six month before the day of your application.

However, for Polaris bank you can use both savings and current account, after applying you can wait for at least 14days from the day of application before you can and get your POS machine.

What you really need:

1. An account: Before any bank can deploy a POS terminal to your business outlet, you need to maintain an account with them, this account is what they will link your POS to.

2. POS document and agreement: You need do collect POS document from your account officer or the nearest branch of the bank close to you, sign the agreement with them and become a registered member.

3. POS charges: Banks usually offer the POS machines free but for each transactions that you make they will always pay a fee.

That is, bank will always charge you for any transaction that you perform that is up to N1000, some charge 0.7% will some charge 1% or 0.75% of any transactions that you perform.

 

Where you can buy POS machine in Nigeria:

There are many dealers that you can buy the POS machine from both new or used one, depending on your choice and your budget for the machine.

Just note that the POS machine that you get from any commercial banks for free they will always collect a small commission per transactions that you make.

But for any POS machine that you purchased either online or offline you will not be charged for any transactions that you performed with it.

That is; if you buy POS machine on Jumia let say N30,000 you will never be charged for anything again, even if you perform thousands of transactions perday.

However, I will be sharing with you, POS machine price in Nigeria, top platforms to buy the cheap POS machine with the best network, good cusomer care services, and with high quality battery.

1. JUMIA

Jumia is an e-commerce website that focused on the sales of electronic devices which POS is not an exception, on this platform you can get different kinds of POS machines for your business.

There are many quality and sustainable POS terminals that are very cheap on Jumia but the prices depends on the features and the quality.

The good news is that any POS machine that you buy on Jumia you will not be charged by any financial institutions for transitions that you performed.

Now, let know the POS machine price in Nigeria on Jumia store.

 

How much is POS machine on Jumia?

The price of POS machine on Jumia is very cheap and you can ordered for any kinds from the comfort of your home.

The price of the POS terminal depends on the type of POS machine that you need, let take a look at some of them and their prices;

1. Genuine portable wireless bluetooth 58mm 2in thermal receipt printer N19,000.
2. All in one handheld PDA printer smart POS terminal wireless portable printers N62,640.
3. All in one handheld printer smart POS terminal wireless N72,180.

There are more but I just have to list out the best and the most sold POS machine on Jumia store.

 

2. Jiji

This is another online shopping mall that sales the cheapest POS machine in Nigeria with high quality at a very affordable prices.

Any POS machine that you buy on Jiji is for lifetime, that is you do not need to be paying for each transactions that you perform using the POS, unlike the one you get from commercial banks.

At this point let take a look at the POS machine price in Nigeria on Jiji online market store.

 

How much is POS machine on Jiji?

The prices of things on Jiji is not the same with jumia, prices of some products are high or low on Jumia but low or high on Jiji.

But, you have to buy from any platform that you are more familiar with online, for fast delivery.

Below are some of the POS and their prices on Jiji online market place;

1. POS S90 mobile payment terminal N65,000.
2. Brand new Pax S90 GPRS payment POS terminal N70,000.
3. Pay Android POS N70,000.
4. All in one POS system touchscreen kit wifi N250,000.
5. Supermarket, restaurants, hostel, bar, lounge POS system N155,000.

Above are some hot selling POS machines on jiji that business owners are buying for their business, there are a lot of other POS machines on jiji but the ones above are the popular ones.

 

Other POS machine suppliers in Nigeria:

These are some dealers that also issue POS machines to people, if you do not want to get from your bank or you do not want to pass through the bank stress then, you can get the POS machine from these suppliers at a very low price;

1. Citiserve Limited ( 368, Ikorodu Road, Maryland, Ikeja, Lagos, Nigeria).
2. ICT and I (Suite 4, 21, Opebi Road, Opebi, Ikeja, Lagos, Nigeria).
3. E-Print Solutions (E13/01, Arena Shopping Complex, Bolade, Oshodi Isolo, Lagos, Nigeria)
4. Wamcom Associates (5, Medical Road, Adjacent Computer Village, Ikeja, Lagos, Nigeria).
5. Elite ShieldPro (2, cmd road, ikosi ketu, Magodo, Kosofe, Lagos, Nigeria).
6. Neo Hitech Solutions Ltd (62B, Opebi Road, Opebi, Ikeja, Lagos, Nigeria).
7. Boromax Global Limited (12, Simbiat Abiola Way, Computer Village, Ikeja, Lagos, Nigeria).
8. BFM Consulting (36B, 2nd Floor, Toyin Street, Toyin Street, Ikeja, Lagos, Nigeria).
9. Platinum Grade (5, Mojisola Street, Ifako-Agege, Ifako Ijaiye, Lagos, Nigeria).

These are some of the companies that also offers cheap POS machine, you can simply go to their office in Lagos and request for the device and you will get it fast without delay.

 

POS machine price in Nigeria:

As I have stated earlier that POS machine is free in Nigeria as far as you get it from any commercial banks, and most companies like OPAY also due offer free POS machine to their customers.

You may ask what will they gain for given free POS machines to their customers?

They will always charge you small commission for any transactions that you perform using the machine!

Unlike the one that you buy from any POS machine company or dealers you will never be charged for any transactions that you perform.

The price of a POS machine depends on the platform or where you want to buy it, it may be the same product but different prices because of the location and dealers differences.

For you to get quality new POS machine in Nigeria it will cost you between N50,000 to N100,000.

Most people sometimes think of purchasing used POS machine but I will not advice you to buy that since you are dealing with money, to avoid waste of money or regret in the future I won’t advice you to go for used one rather buy a brand new one that will last longer.

 

Cheapest POS machine In Nigeria:

When we talk about cheap POS machine we actually mean high quality POS machine that is affordable with strong battery.

There are a lot of POS machine but choosing high quality one with your small cash shouldn’t be a problem.

High quality, low price: more gain. Is that not what you need for your POS business?

Continue reading as I will be showing you some low price, high quality POS machines that you need for your business.

Note: We got our information about the current prices on Jiji, Konga and Jumia. The price may go up or down at any time.

1. Flutterwave POS (N10,000)
2. Surebanka POS (N10,000)
3. Opay mini POS (N15,000)
4. Dataway POS (N15,000)
5. Palmpay traditional POS (N15,000)
6. Bankly POS (N20,000)
7. Pay force POS (N25,000)
8. Palmpay POS machine (N30,000)
9. Dot pay POS terminal machine (N30,000)
10. V71 POS terminal (N35,000)
11. Pax POS machine (N40,000)
12. Smart button POS (N40,000)
13. Nexgo G2 POS machine (N43,000)
14. Bank NEW8210 POS machine (N43,000)
15. POS S90 machine (N50,000)
16. Baxi Android POS machine (N50,000)
17. Smart POS terminal (N70,000)

18. M1S Android Mobile POS Terminal (N89,380)

19. A920 POS machine (N90,000)

20. Supermarket, restaurants, hostel, bar, lounge POS system (N155,000).

Now that you have seen the cheap POS machine price list in Nigeria, let now calm down and look at the types of POS machines that has the lowest transactions charges in 2023.

 

Cheapest POS charges in Nigeria:

 

You may be asking which POS company has the lowest POS transactions charges in Nigeria?

Is it all best POS machines that has the lowest transaction charges?

does worst POS has cheap POS charges?

The answer to your questions are simple and I will be sharing it with you right now!

From my experience I noticed that almost all the commercial banks in Nigeria has the highest POS transaction charges.

While almost all POS companies provide their customers with low POS transaction charges.

Note: This is not my personal opinion, rather the result of my research conducted in Ishieke market, Abakaliki Nigeria.

Please, I urge you to drop your questions in the comment box, if you have any.

Let go!

1. Bankly POS Machine (charges 0.3% on every withdrawals and a flat rate of N35 on all transfers).
2. Moniepoint POS Machine (charges 0.5% of transaction amount. For transactions above 20,000 naira and a flat rate charge of N20 for transfers).
3. Kolomoni POS Machine (charges 0.5% on withdrawals from N1000 to N19, 900. N30 fee for transfer of N2000 and above).
4. Opay POS Machine (charges 0.6% for withdrawals below N20,000 and a flat rate charge of N120 for withdrawals from N20,000 above).
5. Kudi POS Machine (Charges N25 for transaction from 100 – 4,500; Charges 0.6% for every transaction between 4,501 and 25,000. And a flat rate of N150 for transactions above N500,000 and charge N150 flat fee from above 500,000 naira).
6. GTBank POS Machine (Charges 0.75 as POS routine maintenance).
7. Palmpay POS charges 2022, they charge N5 for each 1k and 20k is N100 charge. While N10 for all transfer.
8. Dotpay POS charges 2022 (They charge 0.5% for withdrawal for transactions of below 19,999 and N100 flat rate from N20,000 and above, while deposit charge is N25).

From our list above, GT Bank POS charges is the highest while Palmpay POS charges is the lowest.

 

Best POS machine in Nigeria:

People choose POS machine based on; Secure payments that protect you and your customers, easy-to-use operating system, Instant dispute resolution whenever you need it, compatible with all cards, long-lasting battery, accepts card and transfer payments.

And this best POS machines have the above feature.

• Opay POS machine
• Moniepoint POS machine
• Dataway POS mamachine
• Baxi POS machine
• Kudi POS machine
• Palmpay POS machine
• Firstmonie POS machine.

Nonetheless, the type of POS machine you use for your business depends on some factors such as;

1. The location of your business.
2. The type of business you are using the machine for.
3. Are you operating big or small business.

Most individuals usually prefer to get free POS machine from commercial bank or POS company like OPAY which offer free POS machine.

But the fact is that if you intend to make more gain from your POS business I will advice you to buy new POS machine from POS dealers

The reason been that if you buy new POS machine from a company, the company will never charge you for any transaction that you perform using the machine.

But if you are using free POS machine, the financial institution that give you, will keep charging you for any transaction that you perform.

Now, think which one did you think you will make more gain from? Drop your answer in the comment box below.

The best POS machine that I usually recommend for people operating big business is (Supermarket, restaurants, hostel, bar, lounge POS system which cost N155,000).

This is the type of POS machine that companies like; Robam and fine brothers are using for financial transactions.

Learn more: Best POS Machine In Nigeria And How They Works

 

How much is Palmpay POS machine price in Nigeria?

Palmpay is am Agency Banking Network that aims to provide all banking and financial services to all it customers including those in Rural areas.

Palmpay POS machine is N30,000 while the palmpay traditional POS machine price is N15,000.

 

How to get moniepoint POS machine

Here is how to apply and get moneipoint POS machine for your business in any location in Nigeria, including Lagos state.

1. Create a business account and login: Provide the required information and a business account will be created for you instantly. Once done, login to your business dashboard and click on the POS menu.
2. Request a new POS by Clicking on the Add a new POS button and follow the instructions
3. Fund your account and pay for the terminal
4. Fund your newly created Business Account with a minimum of N21,500 for the POS Terminal and complete the request.
5. The N21,500 covers a N10,000 caution fee, N10,000 logistics fee, and N1,500 insurance fee for 1 year.
6. Get your POS delivered within 48 hours

You will be instantly assigned a dedicated Relationship Manager from Moniepoint.

The Relationship Manager will deliver the POS terminal to you within 48 hours, train you on how to use the terminal and answer any questions you may have.

 

Cost of moniepoint POS machine in Nigeria

Moniepoint POS machine price in Nigeria is N21,500. This covers everything about the POS.

 

How long does it take to get a Moniepoint POS machine?

After you make a request, you can get the Moniepoint POS terminal within 48hrs in your location.

 

How much is Moniepoint daily target?

The daily target for Moniepoint agents is N70,000 worth of transactions. If you fail to meet the daily target at least three times, Moniepoint may take your POS terminal.

Read=> Moniepoint POS Registration (Login To Get Machine Fast)

 

How to get Dotpay POS machine in Nigeria?

If you register for Dotpay POS in the office, you will get it immediately. However, if you make a request for a device through their website, it will be delivered to you by a courier service or an aggregator closest to you.

Dot Pay POS is one of the affordable agency banking provider with a goal to help people of under-banked Nigerians to access a convenient and secure banking services.

 

Conclusion

I know, I have being able to reveal everything you always want to know about affordable POS machines and charges in Nigeria.

I strongly believe that this write up will help you to choose the best high quality cheap POS machine in Nigeria for your POS business.

Let me hear your own Opinion about POS machine prices and requirements in your area.