POS Booming Business: How To Start.

One of the business that is fast growing in Nigeria is POS business which is also called Agent Banking business.

Some have also assessed it as being lucrative. In fact, few days ago, I was in a rush to meet up with an appointment. And I need cash urgently. Luckly for me, as early as 8am, a POS vendor has already opened shop.

I made a withdrawal of N20,000 and was charged N250! That was income from one transaction.

Now, Imagine if he does 100 transactions today, he will be making not less than N25,000 income!

What I observed is that, with a good location and network, you stand to make good daily income from this business as a lot of people are embracing this banking medium especially because of its convenience.

With POS business, you can

✓ Make withdrawal,
✓ Deposit cash,
✓ Transfer funds,
✓ Recharge cable & phone,
✓ Pay utility bill, etc.

So how can one start this business?

1. Get a Host:

Your host can be your bank, Paga, Quick Teller, etc. Successful vendors use host like moniepoint, kudi, opay and kolomonie

2. Get a Location:

Identify a place with good human traffic, a place where many people live or do business, and a place with little or no bank presence.

3. Get a POS Machine:

Getting a pos machine is the first stage of setting up your pos business because your terminal have a lot to do with your success in agency banking, you need a terminal with lower charges, swift network and effective customer support

4. Start Advertising Your Business.

Get more people to know you have started small bank around your corner. Put up a banner to that effect. Use words of mouth also. Remember to keep proper records of every transaction made.

You can message me for any brand of pos machines at 0 8 1 84 23 55 14 whatsapp only

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