Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,151,628 members, 7,813,079 topics. Date: Tuesday, 30 April 2024 at 06:32 AM

How Are POS Operators Coping With The Current Cash Crunch? - Business (3) - Nairaland

Nairaland Forum / Nairaland / General / Business / How Are POS Operators Coping With The Current Cash Crunch? (16122 Views)

Cash Crunch Hits Ondo, Edo, Kwara, Delta, Plateau, Jigawa, Osun / How Much Are POS Operators Now Charging For Withdrawals In Your Area? / Cash Crunch: Rural Dwellers Resort To Trade By Barter (2) (3) (4)

(1) (2) (3) (4) (Reply) (Go Down)

Re: How Are POS Operators Coping With The Current Cash Crunch? by udemzyudex(m): 6:17pm On Feb 23, 2023
Who cares?
Re: How Are POS Operators Coping With The Current Cash Crunch? by akpota(m): 6:18pm On Feb 23, 2023
Axis313:


I know from the onset that POS business is not going to be around for a long time,that's why I don't venture into it,government may come anytime with their policies to kill the business.

Same with me.
Pos didnt go down well with me because i see it as a backward Nigeria.
If Nigeria and its people were technological smart, there would be no pos business.
Imagine paying for simple gotv, you get the money for account you will still go to pos to do it for you.

1 Like

Re: How Are POS Operators Coping With The Current Cash Crunch? by Lookingback: 6:19pm On Feb 23, 2023
iamsolasoul:
I am available for all your flight bookings, airtime and transfer needs via access more i charge only N300 per transaction and N100 per credit but there must be a description of payments to avoid stories that enter Kirikiri and criminality.

Flights is 10 percent

Can u get a cheaper flight?
Re: How Are POS Operators Coping With The Current Cash Crunch? by GentleRay: 6:24pm On Feb 23, 2023
They are coping by exploiting us, with dubious charges.

2 Likes

Re: How Are POS Operators Coping With The Current Cash Crunch? by riczy(m): 6:24pm On Feb 23, 2023
Dts their problem, I do bank transfer for any payment including Opioro mango #200 I bought our days ago

1 Like

Re: How Are POS Operators Coping With The Current Cash Crunch? by Irupetepete: 6:27pm On Feb 23, 2023
visaclick:
few weeke ago they were bragging on making 30k per day, literally off people who earn less than minimum monthly. i pity those that went far as renting 3bedroom flats to live large.
I own several pos stands... Una comments just dey make me laugh.... My people perish cos dey lack wisdom

3 Likes 1 Share

Re: How Are POS Operators Coping With The Current Cash Crunch? by Nwaide01: 6:27pm On Feb 23, 2023
Those who know road are making smart money now. They buy from traders and sell to those who need cash.
Re: How Are POS Operators Coping With The Current Cash Crunch? by angelfallz(m): 6:30pm On Feb 23, 2023
She needs to look for another business. if the cashless policy succeeds POS is dead
id4sho:
angry
My tenant's wife POS business have crumbled. No cash for about 3wks, she's just home sad
Re: How Are POS Operators Coping With The Current Cash Crunch? by youngking89(m): 6:32pm On Feb 23, 2023
Fraud....don’t go and look for something to do....this scam don cast
CodedWealth:
This is the reason I and a few programmers worked hard to automate artificial intelligence on sports trading, how would government affect Ai?

Over 100m in accumulated 128 bets and counting.
I'm just looking at the CBN policy with side eyes.

Artificial intelligence is taking over globally.

Artificial intelligence is modern oil.

Artificial intelligence sport trading is the modern age trading boost, find and join "Corg Ai" on telegram now.

In all you do today, don't miss this.
Re: How Are POS Operators Coping With The Current Cash Crunch? by OlawaleBammie: 6:33pm On Feb 23, 2023
Revolution2022:
None of them have returned to their respective villages.They don't have cash at hand to run their business.All their money are in their bank accounts.
Them no broke.
guy if u get softcopy but no hardcopy u re still half-broke ooh grin

Ordinary coke of 200 u won't be able to buy

1 Like

Re: How Are POS Operators Coping With The Current Cash Crunch? by angelfallz(m): 6:37pm On Feb 23, 2023
Wise man!! God bless your hustle
But please note, if the cashless policy holds POS business would die. So, please start looking for other business ventures to eanter
dkings101:
I run POS exclusively....since there is no cash to run the business...I take my POS to market and do withdrawal and transfer the value to traders for customer who want to pay for commodity with their ATM and charge a minimal fee. At all at all Na him bad pass.
Re: How Are POS Operators Coping With The Current Cash Crunch? by Bmaster(m): 6:48pm On Feb 23, 2023
CodedWealth:
This is the reason I and a few programmers worked hard to automate artificial intelligence on sports trading, how would government affect Ai?

Over 100m in accumulated 128 bets and counting.
I'm just looking at the CBN policy with side eyes.

Artificial intelligence is taking over globally.

Artificial intelligence is modern oil.

Artificial intelligence sport trading is the modern age trading boost, find and join "Corg Ai" on telegram now.

In all you do today, don't miss this.
so,na artificial footballers go play d ball for stadium?
Dey play,just dey play

1 Like

Re: How Are POS Operators Coping With The Current Cash Crunch? by Pickmycall: 6:53pm On Feb 23, 2023
Some of you that is supporting the cashless policy should call your relatives who are in the village and ask them whether they know how to use mobile banking or ussd transfer?Network even worse.

1 Like

Re: How Are POS Operators Coping With The Current Cash Crunch? by benqo01(m): 6:56pm On Feb 23, 2023
SO YESTERDAY I WAS ABLE TO USE D POS,WITHDREW 10K GOT 7K U NEED TO SEE THE PRIDE THIS POS GIRL WAS DISPLAYING YESTERDAY TALKING ANYHOW I JUST JEJELY WITHDREW AND LEFT

VERY SOON E FO CLEAR FOR THIER EYE

5 Likes

Re: How Are POS Operators Coping With The Current Cash Crunch? by Googledotcom: 7:04pm On Feb 23, 2023
NotKnown:
Wicked people.

Before now we used to pity them as they charge N1000 for N5000.

Now we have seen their true colors. Very heartless Nigerians. Can you imagine that at under bridge Ikeja, they were charging N7000 for N2000. That is they charge you N2700 and give you N2000
One idiot told me 2500 to withdraw 5000 naira, I just walked away without looking back.
Re: How Are POS Operators Coping With The Current Cash Crunch? by Blackdisciple(m): 7:14pm On Feb 23, 2023
With the resent HUGE charges, mhennn they are fine just that no cash at hand but it's in the bank...
Re: How Are POS Operators Coping With The Current Cash Crunch? by temiyato(m): 7:18pm On Feb 23, 2023
To withdraw 10k, u pay 3k charges today
5k for 2k charges today
I vex Dey do transfer up and down. Even when I wan buy grand nut 100naira, na transfer
Re: How Are POS Operators Coping With The Current Cash Crunch? by rottennaija(m): 7:27pm On Feb 23, 2023
Reelmii:
upon all the charges wey them dey collect since January 31st...i think say they go don open microfinance bank by now grin
maybe collective they can
Re: How Are POS Operators Coping With The Current Cash Crunch? by edoairways: 7:36pm On Feb 23, 2023
visaclick:
their recent action proves just how wicked nigerians can be which is very bad. i hope they have built mansions with the 40percent charges they have collected. Then again that’s why long term skill is always the surest income stream because most businesses are just fast way to make few millions and that’s it. now lot of businesses now accept transfers, pos business is done!


FOR YOUR ARCHITECTURAL AND STRUCTURAL DRAWINGS SEND ME A DM. PLAN YOUR FUTURE TODAY GET YOUR MONEY WORKING FOR YOU TODAY!!
Have you forgotten that they buy cash? For example Mr A transfer N100,000 to get 70,000 cash,. how do you expect him to make profit if he doesn't increase his charges

2 Likes

Re: How Are POS Operators Coping With The Current Cash Crunch? by edoairways: 7:39pm On Feb 23, 2023
angelfallz:
Wise man!! God bless your hustle
But please note, if the cashless policy holds POS business would die. So, please start looking for other business ventures to eanter
That is not totally correct
Re: How Are POS Operators Coping With The Current Cash Crunch? by edoairways: 7:42pm On Feb 23, 2023
President2001:
After election majority of POS will close down , I mean as from coming Monday
How?
Re: How Are POS Operators Coping With The Current Cash Crunch? by yusluvad(m): 7:44pm On Feb 23, 2023
visaclick:
few weeke ago they were bragging on making 30k per day, literally off people who earn less than minimum monthly. i pity those that went far as renting 3bedroom flats to live large.
E be like say you know person wey this thing happen to.😂😂
Re: How Are POS Operators Coping With The Current Cash Crunch? by President2001(m): 7:49pm On Feb 23, 2023
edoairways:

How?
1, majority of citizen has exposed to cashless policy through transfer
2, from Monday people will troop to bank to get cash of new notes
3, many people have seen different in engaged their bank than POS [ third party]
4, pos that deposit old note has not and can never be as quick getting it
Re: How Are POS Operators Coping With The Current Cash Crunch? by gaddafe(m): 7:55pm On Feb 23, 2023
Axis313:
With the implementation of the now infamous CBN cashless policy, many Nigerians are groaning under the negative effect of it due to the absence of raw cash to run their day to day businesses and the POS operators are not exempted.

For example in my area, no POS operator opens again, no cash to run the business, except those that run other businesses with their POS, now I wonder how POS businesses in other places in the country makes ends meet without using other businesses to support it.

My brother, Dem don kill the business like that. I thank God I have other businesses. That is how I would have just been rendered jobless. This is the second time I would open a business that is destroyed by government policy. This was the reason I was reluctant last year to open a Poultry with. I just started processing my papers to leave the country. I pray Peter Obi wins.

1 Like

Re: How Are POS Operators Coping With The Current Cash Crunch? by greatefa1011(m): 8:10pm On Feb 23, 2023
They are. In yenagoa swali market to withdraw 20k you will pay 8k charges. While in some shops you pay POS charges even for buying from them. The matter tire us.
Re: How Are POS Operators Coping With The Current Cash Crunch? by hardon1(m): 8:14pm On Feb 23, 2023
The sharp ones don dey middle man work o. They help collect transfers for market men and women who don't have bank accounts...

One pos babe in one small market in my area collect transfers for people selling smoked fish, pepper tomato, yam, garri etc. I don't know how she charges and balance them all at the end of the day sha

1 Like

Re: How Are POS Operators Coping With The Current Cash Crunch? by maco1: 8:15pm On Feb 23, 2023
Axis313:
With the implementation of the now infamous CBN cashless policy, many Nigerians are groaning under the negative effect of it due to the absence of raw cash to run their day to day businesses and the POS operators are not exempted.

For example in my area, no POS operator opens again, no cash to run the business, except those that run other businesses with their POS, now I wonder how POS businesses in other places in the country makes ends meet without using other businesses to support it.

POS. Point of sale, it's ment to process merchandise sale not ment for cash disbursement.We are using it for the wrong purpose in Nigeria. POS operator does not contribute to GDP they fleece people.

5 Likes

Re: How Are POS Operators Coping With The Current Cash Crunch? by ogene144(m): 8:41pm On Feb 23, 2023
BigBrother9ja:
MOST PEOPLE DOING THIS BUSINESS ARE VERY WICKED, SELFISH AND OPPORTUNISTIC, JUST LIKE THE BANK STAFF THAT STARTED THIS MESS.

BANK STAFF DIDN'T DISTRIBUTE THE CASH WITH FAIRNESS AND SINCERITY.


They hid the cash in order to sell or exchange with the rich and politicians...
This is why I didn't have any pity on them, when some of their branches were burnt...

POS thieves are doing their too.
Imagine one useless girl telling me to pay 14k for 10k!
That's 40% shocked shocked shocked shocked
I just told her she's a thief and part of the problem of Nigeria.
Most of them do buy the cash so before u abuse them fear God
Re: How Are POS Operators Coping With The Current Cash Crunch? by NoToPile: 9:01pm On Feb 23, 2023
They are still making money oo, was at Alaba international yesterday all my transactions except 1 were with POS, some sellers have personal pos machines and those who don't have use the POS peeps in the market, you use their POS they charge a flat rate of 200 naira and then they transfer to the traders account, that way the bank transfer issues is solved, instead of waiting in vain for the amount transfered to drop.

This evening at one filling station too, a pos lady was around those who didn't have cash used her pos to pay and were charged a flat rate of 200. She will later transfer to them.

The only problem is all these charges are simply transfered to the customer.
Re: How Are POS Operators Coping With The Current Cash Crunch? by highness25(m): 9:02pm On Feb 23, 2023
Axis313:
With the implementation of the now infamous CBN cashless policy, many Nigerians are groaning under the negative effect of it due to the absence of raw cash to run their day to day businesses and the POS operators are not exempted.

For example in my area, no POS operator opens again, no cash to run the business, except those that run other businesses with their POS, now I wonder how POS businesses in other places in the country makes ends meet without using other businesses to support it.
Amidst all the challenges, I made 102k today. It's not easy getting cash Sha. I had to become a problem to one man that sales fish in bulk (cold room), I refused to leave his shop until he coughs out 500k cash and give to me but I had to settle him Sha. Fuel stations and supermarkets are the sure plug now since the people that gives me money inside Bank are doing their selves, nothing for them again.
Re: How Are POS Operators Coping With The Current Cash Crunch? by TheMostComplex1: 9:11pm On Feb 23, 2023
Goodlady:
I just bought drugs and I was debited twice and without reversal so far.
Many PoS operators has closed down due to this stupìd political move against a particular candidate that sentiments has now favoured him cos he's being justified before the start of the election. All the plots of PDP has been uncovered.
I v evidences that showed Tinubu's not guilty of all accusations against him and it's just pure hatred towards him which was hatched by PDP. PDP knew he's the candidate to beat and they v decided to ruin him. PDP hide among Obidients here to cause confusion and division among southerners. Most people that abuse politically here are PDP bots.
But I blv God factor is in his matter. So who God don bless, no man can curse.

Note I don't have a candidate.
Whatever you feel Tinubu is reaping today is what he had sowed in 2015. They propagated politics of evil ie evil campaign
Re: How Are POS Operators Coping With The Current Cash Crunch? by Okortor: 9:14pm On Feb 23, 2023
Are you minding the bittered soul and enemy of progress? Abi it's this time they are making cool money despite the scarcity if only they are able to get cash. I don't know why some person's just have hatred for POS people as if they are the cause of Nigeria's problem!
Revolution2022:
None of them have returned to their respective villages.They don't have cash at hand to run their business.All their money are in their bank accounts.
Them no broke.

1 Like

(1) (2) (3) (4) (Reply)

Naira May Rise Further Against Dollar As CBN Pumps Additional $195m / Why Inverter Is Advisable Rather Than Generator / The Story Of Nigeria’s King Of Money: EZEGO (VICTOR OKAFOR)

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 45
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.