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People Into POS Business In Nigeria & Those Planning To Start Soon - Business - Nairaland

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People Into POS Business In Nigeria & Those Planning To Start Soon by Ffbt(m): 12:33pm On Apr 30
In this thread we will all be sharing helpful experiences in our different areas.
Our discussions will help those in the business and those who are about to start.

We will be focusing on new trends and development in the mobile banking industry.

Kindly share your experience as a POS business owner here.
Re: People Into POS Business In Nigeria & Those Planning To Start Soon by boyag: 4:49pm On Apr 30
POS agents, businesses and kiosks seem like something that will be around for a very long time as financial inclusion becomes a hot topic in Africa. However, the lucrativeness of this business has led to the fast-rising number of agents we see everywhere, literally, it is becoming difficult not to find one in any street you find yourself in; while this is good for the average Nigerian, the consequence it for other operators is that the profitability of the business may drop drastically, then there may not be any incentive for people to continue with it in the long run.
Nevertheless, the business remains profitable and would continue to be so for the next few years. Here are some challenges you need to keep in mind as you consider venturing into this business:

1. Security Challenge: This is one of the main challenges that most POS agents face in Nigeria. Insecurity issues ongoing in some areas and environments in Nigeria have prevented most Nigerians from actively engaging and being profitable in the business.

2. Network Challenge: POS agents make use of the point of sale terminal device either the traditional or mobile device and this device requires network coverage for its operation. The network has been one challenge that these POS agents face.

3. Lack of trust: Due to the rise of fraudulent and criminal activities ongoing in Nigeria, Some Nigerians no longer trust POS agents.

Find more insights on how to start a POS business and become profitable.
Re: People Into POS Business In Nigeria & Those Planning To Start Soon by Ffbt(m): 5:26pm On Apr 30
There are 3 ways to make money from POS in 2022

1) You need to have a physical office or shop or kiosk. You can employ people there or operate the business if you are available to monitor. You can add other things like sales of airtime,data, cable sub, result checkers etc..



2) You can get POS machines from legit sources and not scammers and resell.
You simply connect interested buyers to sellers. You can make profit of 5k and above. You can do this from any part of Nigeria.
All you need is your smartphone and internet data.
People involved in number 1 will need more than 1 machines while new people who want to start will also need to buy.


3) You can also set up systems that will give you the opportunity to make money on the transactions carried out by people who bought the machines from you. So anytime they use the machine, you make money. This is very cool.

I believe this has been helpful.

Feel free to ask me questions by clicking the link below.

I Have Questions
Re: People Into POS Business In Nigeria & Those Planning To Start Soon by Ffbt(m): 7:34am On May 04
The thread is open for contributions..

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