Flutterwave POS: The pros and cons 2023
Flutterwave, a leading payment infrastructure provider in Nigeria, has expanded into the POS market with the launch of its own POS terminals. The company is offering the terminals at a subsidized price of NGN20,000, which is significantly lower than the cost of traditional POS terminals.
Flutterwave POS details
| Price | NGN 20,000 |
| Time of delivery | 7 working days |
| Customer care number | +234 1-8889595 |
Pros
- Owned by a Unicorn worth over $1 billion.
- Flutterwave has other e-commerce services that can be integrated to help a merchant grow their revenue.
- Over 1 million merchants in more than 30 countries already trust flutterwave
- Available at just NGN20,000 within 7 days.
Cons
- Pricing is a bit high at 1.4% per transaction.
- Response from customer care service is slow.
Flutterwave’s POS terminals offer a number of advantages over traditional terminals, including:
- Lower cost: The subsidized price of NGN20,000 makes Flutterwave’s POS terminals more affordable for businesses of all sizes.
- Ease of use: The terminals are easy to set up and use, even for businesses that are not familiar with POS technology.
- Wide acceptance: Flutterwave’s POS terminals accept a wide range of payment methods, including cards, bank transfers, and mobile money.
- Real-time data: Flutterwave’s POS terminals provide real-time data on transactions, which helps businesses to track their sales and manage their finances more effectively.
Flutterwave’s entry into the POS market is a significant development for the Nigerian payments landscape. The company’s low-cost terminals and wide range of payment methods make it a more attractive option for businesses than traditional POS providers. This is likely to lead to increased adoption of POS technology in Nigeria, which will benefit both businesses and consumers.
In addition to its POS terminals, Flutterwave also offers a range of other payment services, including online payments, mobile payments, and bank transfers. The company has a strong track record of innovation and has been praised for its user-friendly platform and its commitment to customer service.
Flutterwave’s expansion into the POS market is a sign of the company’s growing ambition. The company is now well-positioned to become a leading player in the Nigerian payments market.
Requirements to Apply for a Flutterwave POS Device in Nigeria?
Applying for the Flutterwave POS machine is easy but you must be:
- Above 18 years,
- A Nigerian citizen with a valid NIN number
- Own a smartphone to enable you complete the registration
- Utility Bill to proof your residential address (waste bill, electricity bill, land-use charge, water bill, or tenancy agreement)
How to Request a Flutterwave POS Machine
Flutterwave POS merchant application process starts online. Complete the registration form on your smartphone to be connected with an aggregator in your locality.
Within 48 hours of signing up, an Aggregator (an officer who’s in charge of a cluster of agents like you) will contact you and take it up from there.
How much is Flutterwave POS transaction fees?
Fees and charges on flutterwave is as follows;
- 1.4% for ACH
- NGN 0.50K for NQR transactions below NGN 250
- NGN 1 for NQR transactions between NGN 250 to NGN 999.99
- NGN 5 for NQR transactions between NGN 1,000 to NGN 4,999.99
- NGN 25 for NQR transactions above NGN 5,000
Withrawal and transfers from Flutterwave to your bank account attracts;
| Transfer to Bank accounts and Mobile Money at NGN 5,000 and below | NGN 10 |
| Transfer to Bank accounts and Mobile Money from NGN 5,001 to NGN 50,000 | NGN 25 |
| Transfer to Bank accounts and Mobile Money above NGN 50,000 | NGN 50 |
Custom pricing is available to businesses with large-volume or high-value transactions. Contact sales to learn more.
