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What Are The Requirements For Getting A POS Machine? - Business (3) - Nairaland

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Re: What Are The Requirements For Getting A POS Machine? by rayval(m): 10:36am On May 08, 2017
iMerchant:


What you need:

1. An Account - Before any bank deploy a POS terminal to your business outlet, you need to maintain an account with them.

2. POS Document and Agreement - You need to collect POS document from your account officer or the nearest branch of the bank.

3. POS Charges - POS terminals and support are free but you pay a fee per transaction. (Typically, 1.25% with a cap or NGN2,000).

Regards

fee differ. depending on the merchant category. churches, schools, wholesale , saloon etc.. have different charge rate per transaction
Re: What Are The Requirements For Getting A POS Machine? by lizarazus(m): 10:53am On May 08, 2017
you must operate a current account. then, apply to your bank to use a pos terminal and you are good to go. everything is free. just that you will have to negotiate a transaction charge on the terminal(1.75% OR 0.2%, depending on?).

1 Like

Re: What Are The Requirements For Getting A POS Machine? by gpmorgan: 11:04am On May 08, 2017
1. Maintain account with the bank. ( I always advice savings account , cos of excess COT Charge)
2. Approach the Bank Branch (branch where the account is domiciled is recommended)
3. complete the POS request form and sign off the Service level Agreement with the bank.
4. Deployment and support is free of charge, but there is charge on transaction based on the nature of your business. whole sale 0.2%, hotels 1.25%, general merchants 0.75 %.
5. @ FirstBank, we deploy within 7 days both outside Lagos and our support is 24/7.
for further inquiries, inbox me. at Firstbank, we put U first.

2 Likes

Re: What Are The Requirements For Getting A POS Machine? by jist2day: 11:50am On May 08, 2017
Hello fellow nairalanders, I need retail/sales App/software for retailing in a chain of supermarkets and pharmacy company,for retailing and easy accounting purposes.
It should also have good pos interaction
Contact me on whatsapp if you're a vendor 08175246439
Re: What Are The Requirements For Getting A POS Machine? by Harrymig1(m): 2:34pm On May 08, 2017
deniguy01:

bro, if u got one, I got a business for you. .its gonna generate a lot of cash

I've got one...let me in on the biz

1 Like

Re: What Are The Requirements For Getting A POS Machine? by projet: 4:22pm On May 08, 2017
damosade:
For first bank, walk in to any branch. Ask for the retail dept .any relationship manager or marketing associate will do the work. Make sure you have any account the pos will be linked with. Sign agreement form week later you go and get it....that's all.. Note : 0.75 % on transactions free for filling stations. You can also use your pos as agency banking in your area.
Please can u share more light about agency banking you said.
Re: What Are The Requirements For Getting A POS Machine? by ayusco85(m): 8:04pm On May 08, 2017
dahdah:


I've been looking for someone to put me through on the MCASH stuff, I heard its an instant value Pos.

Please how do I get that ?

Sorry for the late reply, was at work. Mcash is better than POS in that u get paid using a ussd code, just by dialing *402*your unique code*Amount #.

No need of data, instant and u can use any phone, even China phone or torch light phone. U get instant credit.
Re: What Are The Requirements For Getting A POS Machine? by dahdah: 10:12pm On May 08, 2017
ayusco85:


Sorry for the late reply, was at work. Mcash is better than POS in that u get paid using a ussd code, just by dialing *402*your unique code*Amount #.

No need of data, instant and u can use any phone, even China phone or torch light phone. U get instant credit.

That also means the person that wants to pay me must also have his/her own unique code which I think can only be gotten through bank.

Thanks Sir, I appreciate.
Re: What Are The Requirements For Getting A POS Machine? by ol2012: 9:43am On May 09, 2017
cosade:


You need to be mindful of what your POS is used for because you'll be held responsible if a stolen debit card is used on it. Imagine if the card was taking at gun point, that is armed robbery which attracts death penalty!

For businesses with POS it is a good practice to have CCTV installed in their business premises.
Thanks for your advise
But I'm wondering, will I also be "held responsible" if a customer pays me for goods sold/services rendered with stolen cash?
Or how am I supposed to know a debit card is stolen if the cardholder supplies the correct pin when making payment with my POS terminal?
Re: What Are The Requirements For Getting A POS Machine? by ol2012: 9:49am On May 09, 2017
dahdah:


That also means the person that wants to pay me must also have his/her own unique code which I think can only be gotten through bank.

Thanks Sir, I appreciate.

http://www.mcash.com.ng/

You'll get all info you need about mcash by opening that link
Re: What Are The Requirements For Getting A POS Machine? by cosade(m): 10:13am On May 09, 2017
ol2012:

Thanks for your advise
But I'm wondering, will I also be "held responsible" if a customer pays me for goods sold/services rendered with stolen cash?
Or how am I supposed to know a debit card is stolen if the cardholder supplies the correct pin when making payment with my POS terminal?

You're likely to be questioned by the law enforcement officers. This is why it is a good practice to have a CCTV installed in your business premises. With this, you'll have the evidence that an exchange (of goods and services) took place and you have the picture of the customer. In a situation the business cannot afford to install a CCTV it would be good to take the alternative measures to protect yourself, such as taking electronic pictures of the customers like commercial banks do when large sums of money are withdrawn. This additional measures may look burdensome but when you think of "police wahala" in situations like this, then no measures taken would be too much. My take.

1 Like

Re: What Are The Requirements For Getting A POS Machine? by dahdah: 3:21pm On May 09, 2017
ol2012:

http://www.mcash.com.ng/
You'll get all info you need about mcash by opening that link
Thanks
Re: What Are The Requirements For Getting A POS Machine? by ultrazone(m): 9:38pm On Jul 14, 2017
Re: What Are The Requirements For Getting A POS Machine? by odimbannamdi(m): 3:44pm On Aug 20, 2017
ayusco85:


Sorry for the late reply, was at work. Mcash is better than POS in that u get paid using a ussd code, just by dialing *402*your unique code*Amount #.

No need of data, instant and u can use any phone, even China phone or torch light phone. U get instant credit.

i am interested in knowing more about this. Can we chat?
Re: What Are The Requirements For Getting A POS Machine? by raphaelpius: 12:53pm On Oct 31, 2017
Please your contact details (quote author=gpmorgan post=56318121]1. Maintain account with the bank. ( I always advice savings account , cos of excess COT Charge)
2. Approach the Bank Branch (branch where the account is domiciled is recommended)
3. complete the POS request form and sign off the Service level Agreement with the bank.
4. Deployment and support is free of charge, but there is charge on transaction based on the nature of your business. whole sale 0.2%, hotels 1.25%, general merchants 0.75 %.
5. @ FirstBank, we deploy within 7 days both outside Lagos and our support is 24/7.
for further inquiries, inbox me. at Firstbank, we put U first.[/quote]
Re: What Are The Requirements For Getting A POS Machine? by raphaelpius: 12:55pm On Oct 31, 2017
Please your contact details,
Re: What Are The Requirements For Getting A POS Machine? by raphaelpius: 12:58pm On Oct 31, 2017
[quote author=gpmorgan post=56318121] please your contact details
Re: What Are The Requirements For Getting A POS Machine? by bhankymyk(m): 5:09pm On Oct 31, 2017
Please can I get a POS terminal that will be deducting a specific amount of money, on every transaction.
Ur responses are needed. Thanks
Re: What Are The Requirements For Getting A POS Machine? by udeh3(m): 5:33am On Dec 21, 2017
gpmorgan:
1. Maintain account with the bank. ( I always advice savings account , cos of excess COT Charge)
2. Approach the Bank Branch (branch where the account is domiciled is recommended)
3. complete the POS request form and sign off the Service level Agreement with the bank.
4. Deployment and support is free of charge, but there is charge on transaction based on the nature of your business. whole sale 0.2%, hotels 1.25%, general merchants 0.75 %.
5. @ FirstBank, we deploy within 7 days both outside Lagos and our support is 24/7.
for further inquiries, inbox me. at Firstbank, we put U first.

Presently, I lived in Benin but planning to open a business in Delta State. Can I register for POS via firstbank Benin?
Re: What Are The Requirements For Getting A POS Machine? by tolumyti: 11:06am On Feb 15, 2018
adollyboy:
When I visited my bank, UBA@Acme road, Lagos, recently, I was told that that my business must be turning over one million naira(1,000,000) every month. I just ran away. Then I went to first bank on the same road, they told me I must guarantee or be sure that at least 20 customers will use it in a day. Because that is the condition they (marketers)can use to convince the management for approval. But allocation is free sha! And for every transaction, there will be a charge. (I have forgotten that) may be 0.75 or 0.25 sha!
adollyboy:
When I visited my bank, UBA@Acme road, Lagos, recently, I was told that that my business must be turning over one million naira(1,000,000) every month. I just ran away. Then I went to first bank on the same road, they told me I must guarantee or be sure that at least 20 customers will use it in a day. Because that is the condition they (marketers)can use to convince the management for approval. But allocation is free sha! And for every transaction, there will be a charge. (I have forgotten that) may be 0.75 or 0.25 sha!
adollyboy:
When I visited my bank, UBA@Acme road, Lagos, recently, I was told that that my business must be turning over one million naira(1,000,000) every month. I just ran away. Then I went to first bank on the same road, they told me I must guarantee or be sure that at least 20 customers will use it in a day. Because that is the condition they (marketers)can use to convince the management for approval. But allocation is free sha! And for every transaction, there will be a charge. (I have forgotten that) may be 0.75 or 0.25 sha!
how much is the minimum amount you should have in your first bank Acc and can it be individual savings Acc or compulsory business Acc
Re: What Are The Requirements For Getting A POS Machine? by Emdee590(m): 6:06pm On Apr 12, 2018
Please anyone using pos for recharge card Biz here ? Please answer asap
Re: What Are The Requirements For Getting A POS Machine? by skydancer: 3:45pm On May 02, 2018
Emdee590:
Please anyone using pos for recharge card Biz here ? Please answer asap
How do you mean? Buyers pay with POS?
Re: What Are The Requirements For Getting A POS Machine? by Emdee590(m): 2:22pm On May 03, 2018
i mean you print the card out and sell
skydancer:

How do you mean? Buyers pay with POS?
Re: What Are The Requirements For Getting A POS Machine? by skydancer: 2:28pm On May 03, 2018
Emdee590:
i mean you print the card out and sell
Oh, that has nothing to do with POS na
Re: What Are The Requirements For Getting A POS Machine? by chyldvoodoo: 10:55pm On Jul 18, 2018
Please I need insight on POS that accepts foreign credit cards, majority of my clients are foreigners. What do I need to get it and if you have one can you please signify. I'll appreciate your assistance

2 Likes

Re: What Are The Requirements For Getting A POS Machine? by refugee: 8:13pm On Nov 03, 2018
Pls reach me. ..08077444242
gpmorgan:
1. Maintain account with the bank. ( I always advice savings account , cos of excess COT Charge)
2. Approach the Bank Branch (branch where the account is domiciled is recommended)
3. complete the POS request form and sign off the Service level Agreement with the bank.
4. Deployment and support is free of charge, but there is charge on transaction based on the nature of your business. whole sale 0.2%, hotels 1.25%, general merchants 0.75 %.
5. @ FirstBank, we deploy within 7 days both outside Lagos and our support is 24/7.
for further inquiries, inbox me. at Firstbank, we put U first.
Re: What Are The Requirements For Getting A POS Machine? by felixawe(m): 8:59pm On Mar 17, 2019
sassygal:


I believe Pos are assigned to businesses alone and not individuals maybe if your savings is for your business but ask your account officer

They aren't for business alone. Make sure ur account must be current
Re: What Are The Requirements For Getting A POS Machine? by sassygal(f): 8:36am On Mar 18, 2019
felixawe:


They aren't for business alone. Make sure ur account must be current

That response is 5years old. It was valid then.

Please don't jump into conclusions just because a lot of changes has happened.
Re: What Are The Requirements For Getting A POS Machine? by AdeOracle(m): 10:56am On Mar 18, 2019
sassygal:


That response is 5years old. It was valid then.

Please don't jump into conclusions just because a lot of changes has happened.

Sure you need run a current account . Best is to apply as an agent,... thats agent banking from any bank that handles that. First bank will be better just that they can delay atimes
Re: What Are The Requirements For Getting A POS Machine? by felixawe(m): 5:29am On Mar 19, 2019
sassygal:


That response is 5years old. It was valid then.

Please don't jump into conclusions just because a lot of changes has happened.
I have pos... Just for the purpose of research , which is inexhaustable. No info is old someone needs it.
Re: What Are The Requirements For Getting A POS Machine? by cifo1145(m): 5:57am On Mar 19, 2019
klipse:
Hi, may I introduce to you "Uxie" a brand product from our start-up company.

Uxie is a simple light-weight mobile application that runs on your smart phone. It is designed to overcome the flaws of the clumsy POS devices issued by our banks such as No network, incomplete transactions, battery life, portability and bank account restrictions etc.
Uxie can be linked to any bank account (savings or current).

We have just launched this new product and would like to have you as one of our pilot users hence all transaction costs will be waived for your first 25 transactions.

If you are interested in being a pilot user, please contact us on uxie@panthelope.com

Thanks

Your email is not accessible.
If u are on WhatsApp let's chat on the Ts n Cs

1 Like

Re: What Are The Requirements For Getting A POS Machine? by kentochi(m): 9:39pm On Mar 21, 2019
I need first bank pos

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