This article contain information on how to get new Opay POS machine, Opay POS Charges 2021 and how to become an Opay agent in Nigeria.
Since Opay started up in Nigeria as a fintech company, a lot of Nigerians had scaled through its diverse opportunities.
The company introduced a POS (Point of sales) means of transactions for users across the country and a lot of people had taken hold of this opportunity to become agents in the Opay POS business, in today’s article we will reveal how anyone can join the Opay POS Business.
We are going to share with you a few vital information on how to start OPAY POS business, we will share with you the opportunities in this space and what you stand to gain.
But let’s look at the viability of the OPAY business, OPAY happens to be a Chinese-backed company that came into the limelight 4 years ago, not just as a fintech company, but started its business model as an all-in-one lifestyle app, for which it financial services stood as the core focus of the company.
Opay is a Nigeran based company backed by a Chinese company that also owned the Operamini browser, since OPay started its business in Nigeria it has perhaps stayed as the most mainstream payment processor in the country at this moment.
A lot of POS businesses in the country now use OPAY POS to facilitate their business, POS has been a reliable business in Nigeria and its demand increased during the COVID-19 pandemic, nowadays people do not want to wait in the queue for financial transactions.
This article will show you how you can get into the Opay POS business in Nigeria, we will show you how you can get the POS machine and start processing financial transactions for profit.
This article is not sponsored by Opay; It’s written to guide people who would want to become an Opay agent easily.
As already introduced, OPay is a fintech company and they facilitate mobile payments, such as sending and receiving of money but outside this, you get the opportunity and the security of paying for foods, paying for your bills, airtime and data, and even withdraw cash from Opay agent.
Opay as a financial service company has been a profound means of livelihood for so many Nigerians and starting the OPay business.
Therefore if you are ready and willing to start the Opay business then you might fall in the category of those who do not know how to become an Opay agent in Nigeria, and we are going to be sharing all those information with you on this post. Apart from showing you how you can become an Opay agent, we show you where and how you can get the Opay Pos machine.
How much can I make by becoming an Opay agent in Nigeria
A lot of curious people tend to ask this question, are people making money from the Opay POS business? What is in it for me, will I become rich or have a steady flow of income when I start as an Opay POS agent?
Well, I believe sharing this information with you will help, it makes a lot of sense to know what are the opportunities available here before you jump right in, get the OPay Pos machine and start the business.
One thing I did tell anyone who asks how viable the Opay POS business is, I tell them this, some people do POS business and they transact in large amounts, they start big and facilitate both he and small payment and they make money than most salary earners in the country, sounds interesting right?
Take note, it is not all POS stand in Nigeria you go to that will be able to give you let mention for example N100,000 cash when you need them, yes but there those who are also able to transact in large amounts, and they get their profits in it especially in populated states in the country like Lagos, and areas where it will take more than 30 minutes to reach a bank and another extra 30 minutes to 1-hour stay in the queue before they are finally able to make their transaction.
This is why POS business has become viable in the country, you will find graduates running POS stands as their business, at times most people do transactions around N400,000 daily and they make a lot of profits at the end of the day.
In summary, there is a good chance of succeeding in the OPAY business, the demand for POS service is on the rise as the population of Nigeria increases, a lot of people will find it more comfortable to walk to an Opay pos agent and finish their financial transactions like sending money, receiving money or withdrawing money from their bank accounts instead of walking or travelling many miles to get to an ATM or standing in a very long queue before they can withdraw money or send money.
So if you are a person with no salary job or means of livelihood, this is a business opportunity for you, you can easily get the Opay Pos machine and start the OPAY POS business around your environment or a largely populated vicinity.
How to become an OPAY POS agent step by step
Now that you know what opportunities are available when you become an Opay agent, let me share with you some step by step guides that will help you become an Opay Pos agent in Nigeria.
There are a lot of people who already have shops where they sell items, goods and services, and they later decide to start a POS business alongside for an extra income, so if you already have a shop you can become an opay agent and increase your daily income.
So many students in Nigeria too, get into the POS business as a side hustle, there is already evidence that it is a viable business to the big question is how can you become a successful Opay POS business.
For the records, Opay is not the only financial payment processor that offers POS, there are many other companies such as banks who offer POS to their customers, moniepoint, kudi and a few others. But Opay stand as a very preferred option by many POS agents, and one of the reasons is that it is free to obtain an Opay POS in Nigeria, you do not need to purchase it before you can start the POS business however there are some things checked by the company before you can become an Opay agent.
We will show you how can get the OPAY POS machine for free in this post, but for now, below are things to keep in mind on how to become an Opay agent.
- Learn and understand how the OPAY POS business works before you become an agent
- You need to have capital before you start the POS business
- Choose a very good location
- Get the Opay POS machine
- Start transacting
Now let’s look into the 5 steps of becoming an Opay agent highlighted above.
- Learn and understand how the OPAY POS business works before you become an agent:
Today in Nigeria it is easy to become a POS agent but without the right knowledge you will find yourself falling into the business, this is why before starting the Pos business using Opay terminal you need to be sure of what you want to do and you must know how the business works, what people charge per transaction amount, how much you need to have in hand as cash, what bank accounts you need, processing large transactions and so many other things.
Also, you need to know how much capital you will need and be prepared for the daily hustle.
This is the first step towards becoming an Opay agent in Nigeria, if you want to succeed in it, you need to step in with the right foot to avoid making too many mistakes that might cost you.
So learn as much as you can, find information about how the POS business runs and research on the best location to put your stand.
Also, there are times when you don’t need to start by building a roadside kiosk, sometimes what you need might just be to look for someone who already has a busy shop and start your POS business there, this will help you gain customers easily instead of starting in a corner, it all depends on the location however and how busy it is. Gather enough knowledge and it will help you start your opay POS business.
- You need to have enough capital before you start the Opay POS business:
This is one of the mistakes, POS agents make when they first start, you need capital to start the POS business, remember this aspect always. When you start big and transacts a large sum of money, it will help you stand out and you can gain man customers quickly.
Imagine having customers willing to withdraw a large sum of money and you do not have enough cash at hand, you will end up losing customers, when starting it I wise to have around N300,000 as capital, then start the business and make sure you don’t run out of cash see how well the business moves in the first 1 week to 1 month and study how much is the max transactions at average that you process daily, from here you can start growing big.
Having reasonable capital will you scale easily in the POS business!
- Choose a very good location to start your POS business:
Location matters very well in the Opay POS business, you need to understand that when you open a kiosk in an area where there are only a few people who may be the minors, then your POS business won’t move, you might be making only around N1000 to N1500 daily in a less populated area where there is no less demand for POS.
Another wise thing is not to start a POS where there are so many banks, if there are so many banks in an area, people will prefer going to these banks to withdraw or transfer money especially in ATM that allows its customers to withdraw with their ATM for free. Well yes, you might have one or two customers in areas where are there a lot of banks but it is not wise to start your POS stand in such areas.
Find a location where there are few banks, areas where there is a great population and that where you can succeed fast a day in the POS business, POS business is easy, but you will slowly fail out and making almost nothing if you don’t start well.
So find a good location to start your business and you will enjoy been an Opay POS agent, yes as we mentioned before if you start in a very good area, you will get a lot of customers and your profit at the end of every month can be more than what most salary earners.
- Get the POS machine:
We will guide you through how to get Opay Pos in this article, like we mentioned it is free, but there might be some limitations and what you must do to be qualified to get the Opay POS, also this part is very important because a lot of people ignore what is most important.
When you are prepared to start your POS business, the next thing is to get a POS machine which you will be needing to process payment.
Just as we said, there might be no fees tied to getting an Opay POS business, compared to most banks who charge a large amount of money before one can get a POS machine for the POS business.
Not to worry in the next section of this post, we will guide you through every step on how you can easily get the Opay Pos machine to start your POS business.
- Start transacting:
Once you have obtained your Opay POS, gotten a location or a POS stand to use then congratulations you have successfully become an Opay POS agent, the next step would be to start processing payment for people.
You do not need to advertise yourself, the business will advertise itself as long as your POS machine and POS stand is in an open area where people can easily spot you and do business with you.
However, once you start, remember to be very careful, some people make a lot of mistakes, assuming a customer wants to withdraw N15000 from their account, they type in N1500 on the POS machine and give the customers N15000 (That is fifteen thousand nairas) or a customer who wants to withdraw N40000 they type in N4000 and give the customer N40000.
Be very cautious in the business, when people say they make a transfer to you to get cash, verify the transactions well and be sure you have gotten it as most people can show fake alerts and so on.
How to get the Opay POS machine (Application form)
This part is very important, this definitely might be why you are here reading this post, you want to know how to get the Opay POS machine.
So let’s discuss and share with you the steps to take to get your POS machine.
Opay POS is not the only terminal used by POS agents, but again it has remained the most used POS terminal since 2018, and like I stated part of the reason is that it is free to get, you don’t buy the POS. But there is a process to follow before you can get the POS machine and start operating your business.
So we are here to make it easier for you, in your journey to become an opay agent, we have provided you with step by step guide to request for Opay POS machine and how you can receive it after applying.
Here are some steps that you need to take to request the Opay pos machine anywhere you live currently.
- Step 1: Login to the OPay app, you can get this app from the App store on your smartphone.
- Step 2: Click on the More icon which you will find on the Opay app
- Step 3: Click on my POS icon which is also visible on the Opay App
- Step 4: You will be asked to accurately fill in the required details asked by Opay to get the POS machine, this will usually take you one or 2 minutes to supply.
- Step 5: You will be asked to submit your bank statement for the last three months, this is also important, you can get your bank statement from your bank app, or you can visit your bank.
- Step 6: You will be asked again to upload a valid ID Card of yours, most of the accepted means of id (Identification) are your international passport, National ID or Driver’s License, once you submit this you can move to the next step.
- Step 7: You will be asked next to upload a picture of your business residence (Image clearly showing your storefront), this will help opay to verify that you have a store and you are ready to become an Opay agent.
You will not be asked to pay any amount for the POS, as it is offered free to eligible agents; however, agents must have a caution fee of ₦20,000 available in their OPay wallets.
Also to take note of, once your request for POS terminal is approved by opay, then the caution fee charge will take effect.
What is worthy to also take note of is that the sum (caution fee) will be refunded to you as an agent when you return the POS terminal.
How long will it take to get the Opay POS machine?
After you successfully apply for the POS machine/terminal, you do not have to wait for days to be approved or disapproved, all OPay POS requests are reviewed and processed within 24 hours.
Once your request for the POS terminal is approved, the agent support team will contact you to inform you about the best available date to pick up the POS terminal.
There you have it, you can then pick up your POS and start your POS business swiftly as an Opay agent.
Step by step instruction for people who want to open a Kiosk as an Opay agent
In your journey of becoming an Opay agent and starting the POS business, one thing that we have mentioned as very important is your POS stand, you can have the machine and capital and not have people who would like to patronize your service so it is very important to get your POS to stand in the right place.
We know this information will help you, so we will share with you just what you need to know when planning how you can get a POS stand.
As we formerly advised, if you can find a shop which is already existing in an area where there is a flow of customers, people coming to buy things, you can talk to the shop owner for a space in the shop, inside or outside to run your POS business, you can reach an agreement for monthly settlement fees.
This is one of the advice we give to early POS agents, if you can get this part well worked out, your business will run smoothly, the advantage of starting your POS in an already existing shop is that it will give you more visibility, especially on big shops.
Well, in most cases you might not find a shop where it is best to run your POS business and if this becomes the case, what you can do is find a good corner, usually, we advise people to find a spot along the road, or inside a street to community where banks are not close. Then build a small kiosk or POS stand and you can begin your POS business.
You do not have to worry about having huge capitals, you can find a carpenter around you to construct a POS stand for you on your desired location once you have successfully obtained your POS machine and become an Opay pos agent, you can start your business.
How to grow big in the Opay POS business, and what are the Opay POS charges.
Wait before you click away from this post, read this section carefully.
As someone who has been in the POS business for a very long time, there are a lot of areas we wish to educate you in and guide in, POS business, a lot of people are rushing into it these days but only a few make a reasonable profit from their POS business.
So we are going to share with you how to grow your POS business in Nigeria, this is for those who have known how to become an Opay agent or have successfully been approved and is already running the Opay business.
Another thing you would also want to know is the Opay POS charges, what fees are charged and how much fee should you charge your customers?
It is easy to start and grow big in the point of sales (POS) business once you have the right knowledge, most people who start in the rural areas have more advantages as there are few or almost no banks in those areas, even in urban areas POS business still appears to be profitable as the population in these cities dictate that not everyone would want to go and queue up in banks to withdraw money or do other financial transactions, POS solves the problem of a queue in bank areas and ATMs. So there is no iota of doubt that there is a good business and a good market here.
The charges per denomination will determine on the area where your Opay pos stand is located, for example, in a student area, they charge as low as N30 for transactions below N2000 and most areas charge N50, so you should study what people charge in your area to know what to charge your customers.
But to survive we have some key information for you.
- Once you become an Opay agent successfully, make a good relationship with your customers:
A good relationship with people makes them feel comfortable whenever they come to your POS stand or store. And this will help you grow because a lot of customers will always come to your shop especially if there is more than one POS around you.
Maintain a good relationship, be calm when talking with your customers and ensure that you give them the machine to type in their password themselves so they can feel safe.
When a customers credit card says insufficient funds, tell them calmly and if they defend otherwise ask them calmly to double-check their balance, if you are rude to them, they might not come to your shop or POS stand again.
This is one of the keys pieces of advice we give to all Opay POS agents.
- Try to be available on Sundays, most POS businesses will be closed on this day but people still do financial transactions on Sunday.
A lot of POS agents takes Sunday as a resting day, why it is fine to do so too, it might be wise to be available on Sunday when most people are not, that way people who do not know you before will do, and you can make extra profits. You can close earlier than the normal days and resume probably in the afternoon.
This is also good advice for people who wants to grow their POS business. Simply find what Is best for you and if it is not convenient for you to open your POS kiosk on Sundays it is up to you and you can take the day off but this will help you grow your Opay POS business fast.
- Always be first to come and first to leave, this will help your customers know you are serious and readily available whenever they need to make quick financial transactions.
Resuming on time, helps you reach more customers and become visible, closing late also helps you reach more customers. We give this advice to people who are mostly in an area where there are many POS stands around, and in those cases standing out helps you reach more customers and one of the wise things to do is resuming earlier and closing later than the time everyone else closes.
Again this choice should depend on how convenient it will be for you.
- Calculate your daily profit, and see how well you are performing. This will help you know if the area your POs stand is located is okay:
Keep a record of your daily transactions, so that you can keep track of your business, when you record every transaction you can do a sum up at the end of the day to know who much you started with and ensure that you are not running into loss.
It will be easier for you to know when you overpaid a customer and debited less from their account unknowingly and you can then readjust and be more careful on processing transactions. There are other reasons why it is good to keep a record of your transactions and most of it is to know how your business is profiting and to separate the profit from the capital.
- Be calculative and avoid making mistakes during each transaction you process:
If you wrongly debit a customer, they will get furious and will not come to your POS stand again.
Some agents make a lot of mistakes, listen to the customer care and reconfirm how much they want to withdraw, if you do otherwise most customers will not be happy and they will become furious. That might means they will not come to your POS stand again so be very cautious when processing transactions and dealing with people’s money.
- Have a very good network and make sure your Opay POS machine is always charged:
One of the worst scenarios is to insert your card in POS and they tell you shits related to networks, most POSs such as the one from opay require internet access, so ensure that you have a good network always.
Also keep your POS charged, if you run out of battery you will not be available when customers need you.
I hope the information we have shared above will guide you on how you can become a good Opay POS agent in your area.
Without further ado, let’s discuss the very last part of this article.
Areas where you can make more profit as an Opay agent
There are some smart moves to make if you want to profit well in the Opay POS business. I have mentioned this particular point almost twice in this post, I cannot overemphasize much on it but it should be useful to you.
If you want to make a good profit from your Opay POS business, just move away from the city and open it in a community that has no banking services, sometimes you can pay policemen that will be patrolling the area with their Hilux and you’re good to go. I’m telling you this particularly from experience, you will end almost in the means of nothing that can be an advantage in the city (urban areas) can also be a disadvantage for many.
You can also have several POS stand in different locations, place people there as you can not run it alone and this will put you at the forefront and increase your daily revenue from the POS business.
A lot of people start POS business and they do it as long term business or use it to support their other businesses, having many mainstreams of income gives you more chance to succeed easily and quickly.
Another smart area to start your POS business is around schools, Universities, Polytechniques, colleges of education and others. The population in this area is huge so the demand for POS will be on the rise.
In most campus areas, there are no banks or banks are located only In the cities, so putting a POS stand in a school area will help you make a good profit in the POS business.
Places, where ATMs are always crowded, is also a good place to start your Opay Pos business or you can start in areas where there are shortages of banks/ATM posts, they both work vice versa.
When an ATM is crowded, and people want to leave there on time they will prefer using the POS, also when there are no banks or ATMs around, they would find POS to make transactions, POS business also thrives well close to markets and banks because of the many transactions carried out in these places. In populous business: premises like supermarkets, malls and large vendors, putting a POS kiosk in these areas will help you make good profit an Opay POS agent.
Before opening your POS stand, see if there are already many around and avoid such areas.
This is a piece of very important information for every Opay POS agent to keep in mind, it is important and yet many people fail to check this properly when choosing a location for their POS business, and I have mentioned it here to guide you.
You need to know what your competition is like in whichever area you plan to start your POS business.
It is important to worry about those that already operate in your desired area of operation (that’s to say, where you want to site your pos business).
Secondly, those that are closest to your desired area of operation should also be carefully analyzed. Knowing the number of competitors you have in a particular area, you are looking to situate your POS business helps you to be more strategic on how to go about running your POS business.
This will also help you check that you are not losing too much, in most cases if the area is already filled with many POS stands and you are finding it hard to get customers or daily patronage, do not hesitate to change your business location.
Use Banners and a good name to make your store attractive
You can attract people easily when you have a banner labelled well showing that you are a POS agent, people who do not know you before can easily find you if there is a good banner that advertises your POS, you can have this built-in your POS stand, or built separately and placed in front of your PSO stand.
Use a good name for it; find a good venturing name for your business. It may not necessarily be your name. You can dub your business any name you feel is the best and could be easily pronounced by your would-be customers.
Also do not rush to change location when you are just starting, allow people to get used to you and know about tour store then they can start doing business more with you.
The POS business is very lucrative and easy to start. But you need to be smart in the game, you need to stand out and ensure that you are focused, when you keep being relevant and serve your customers well they will come to you again and again, and again, and that is how you get to make a lot of daily profit from the POS business.
If you need help getting an Opay POS machine, you can seek help from us, you can also find more information related to becoming an Opay agent but we have provided you with everything you need to know to become an Opay agent.
You can always find more information on how Opay POS business works from your friends, and that should be people who are already in the Opay POS business, you can also get startup loans to start your Opay business, as you will need capital for you to do well in the business.
Feel free to leave any comment or ask any questions and we will respond to you, wish you the very best in becoming an Opay agent.