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. One of its main products is the issuance of Point of Sale (POS) machines to registered agents to enable them provide financial services in their local communities.

This can be a perfect fit for students who are looking for a side hustle that they can do in school. Anyone can apply for a POS machine and earn a commission on every transaction they perform in their local communities.

These POS devices are given to agents who have been licensed and at the same time vetted in a rigorous Know Your Customer (KYC) process.

A Moniepoint POS agent can act as a “mini bank”, accepting deposits into various bank accounts in Nigeria, processing withdrawals and helping to complete different types of digital payments for the immediate members of their communities.

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)

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.

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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

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;  WhatsApp line +234 908 843 0803 or  +2349062979733

Ibrahim Ismail

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

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