To start a POS business in nigeria,follow us and read carefully to know and to get the knowledge of the business on how get more profits in the business. Whether it’s in the ancient city of kano or Nigeria,(POS) business is now gradually becoming one of the most profitable business ventures any entrepreneurs can thrive in Nigeria or in any African country or in the world.
Sometimes some sceptics express doubts on the business profitable after the Central Bank of Nigeria (CBN) the have make a rules in 2013,which is eight years after,the business seem to be burning due to huge adoption which include anyone who has a bank account I need to perform any transaction who pay utility bills.
Ways of how to become a pos agent
The ways of starting a pos business is a easy way and you can complete within two weeks to a month, provided you meet the requirements of the host bank.
Startup capital:
The best way to start a business like this expect say the amount of money will rangefrom 80- 100000 naira including money to get the POS machine. This will always cover expenses in getting other Logistics needed to start business
The location
This is the one of the most important things you must have thought about when deciding to run this kind of business.A a location is a place where they are a good number of people who will need to perform simple financial activities. Remote areas student wouldn’t environment marketplace.this kind places can make get you to make you to get more customers and to have Good and more profits in pos business.
Have a Shop or Kiosk
This this process will serve as local as the local or nearest financial institution, College, university to the people where where they can perform simple transaction like making withdraw, bank transfer, payment e t c.your shop or kiosk should designed in such a manner that people you are running a pos business. You can achieve this with a small board put in front of your shop and use banners in road side that would alert your customers from a far distance who are looking for a pos terminal.
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Get the POS machine
This is one of the most important tasks of the business of POS. According to experts, there are ways of getting a pos machine, through Commercial Bank and other finance agents.
The cost of acquiring the POS machine varies from issuing agent and how strong advanced the connection runs. to get a pos machine from a Bank there are some requirement that ought to be met in accordance with the cbn directives it is your advantage that you on an active account with them.
According to the cbn the requirement for starting POS business include a ballot meaning of identification, for example, national ID, ID card, active drivers licence or International passport. A registered business name is also needed as a pos location, passport photographs, account number, phone number, business email address and bank verification number (BVN).
Some of the designer Ted bank assigned to to issue POS machines include first bank, United Bank for Africa, guaranty Trust Bank diamond access bank, keystone bank,wemabank and some others Banks.
