How To Get a Moniepoint POS Machine For Student Side Hustle In Nigeria

Moniepoint is a Nigerian fintech company licensed by the CBN to provide microfinance services.

At the heart of its offerings is the issuance of Point of Sale (POS) machines, strategically placed in the hands of registered agents to facilitate the delivery of financial services within their local communities.

For students seeking a flexible and rewarding side hustle, Moniepoint’s proposition becomes especially appealing. The application process for obtaining a POS machine is open to anyone, allowing individuals to capitalize on commission earnings for every transaction conducted within their community.

To ensure the integrity of its network, Moniepoint employs a stringent Know Your Customer (KYC) process, licensing and vetting agents before entrusting them with POS devices. This meticulous approach guarantees that agents are not only qualified but also committed to upholding the standards of the financial services they provide.

Functioning as a veritable “mini bank,” Moniepoint POS agents play a pivotal role in their communities. Beyond facilitating deposits into various Nigerian bank accounts, these agents proficiently process withdrawals and assist in completing diverse forms of digital payments for the immediate members of their communities. In this blog post, we delve into the opportunities Moniepoint presents for students to seamlessly integrate a lucrative side hustle into their academic pursuits.

Requirements to Apply for a Moneypoint POS Device in Nigeria?

Applying for the Moniepoint 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)

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How much is a Moniepoint POS Device?

A MoniePoint POS machine starting price costs N26,500 (twenty six thousand, five hundred Naira only), you can get a POS device within 24-48 hours. This amount is not to buy and permanently own the device, it is for insurance as all devices remain the exclusive property of Moneipoint. You are entitled to a refund of N10,000 when ever you have the need to return your device to the company within the first year of issuance.

How to Request a Moniepoint POS Machine

MoniePoint POS agent application process starts online. Download and install the official app 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.

Alternatively, just visit their No.12 Wole Ariyo St, Lekki Phase 1 office. Once you are mapped to an aggregator, you can get everything done in a short time.

What are the Moniepoint POS charges and commission structure?

The volume of transactions via the terminal determines the charges by Moneypoint POS. But as a starter guide, here are some of the commissions and charges by Moniepoint POS.
With withdrawals between N1-N20,000, Moniepoint POS charges only 0.5% of the transaction amount.
For transactions above N20,000, Moniepoint charges a flat rate of N100(charges may change at any time.
For transfers, Moneypoint POS charges a flat rate of N20 for transfers.

For Mobile/Data Top Up:
MTN 3% commission
Glo 4% commission
9Mobile 4.5% commission
Airtel 4% commission

  1. For TV Subscription:
    DSTv 2% commission
    GOTv 2% commission
    PHCN 2% commission
    Star Times 2% commission
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There is a similar commission structure for other payments including electricity, betting, Waec and Jamb fees, etc.

Moniepoint customer care number?

Send your complaints to the email address; [email protected].  WhatsApp line +234 908 843 0803 or  +2349062979733

Moniepoint stands as a beacon of financial empowerment, offering students a unique avenue to transform spare time into a lucrative side hustle. The accessibility of POS machines for registered agents not only facilitates financial transactions but also serves as a catalyst for community development.

By becoming a Moniepoint POS agent, students not only earn commissions on transactions but also play a vital role as financial intermediaries within their communities. The “mini bank” concept, involving deposits, withdrawals, and various digital payments, positions these students at the forefront of financial inclusion.

Moniepoint’s commitment to a rigorous KYC process ensures that its agents are not just participants but trusted stewards of financial services. This meticulous vetting process adds a layer of credibility to the network, assuring users that they are engaging with individuals dedicated to maintaining the highest standards.

As students explore diverse ways to balance academics with financial independence, Moniepoint emerges as a standout option, providing an accessible and rewarding side hustle. Embracing the opportunity to be a Moniepoint POS agent is not just a financial decision; it’s a commitment to fostering financial inclusion and community-driven prosperity. So, whether you’re a student seeking additional income or an individual passionate about contributing to local financial ecosystems, Moniepoint opens doors to financial possibilities that extend beyond personal gain, leaving a lasting impact on communities and individuals alike.

Ibrahim Ismail

A passionate and highly skilled individual who has seamlessly blended the worlds of statistics, technology, and finance.

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