Moniepoint POS: How to Become a Moniepoint Agent (in 24hrs)

In this article, I’m going to be showing you how to get the Moniepoint pos very fast and become a certified Moniepoint agent in Nigeria.

But before we dive into the purpose of this article, I wrote this article on how to make 1 million monthly from POS business. make sure to check it out, because I gave a lot of secrets out for free in that article.

Moniepoint is a rapidly growing and dependable mobile money platform in Nigeria. It enables users to conduct various financial transactions such as; withdrawals, transfers, airtime, and more with the aim of making a profit.

Furthermore, the company has an outstanding network, which eliminates the common issue of “no network” experienced by many point-of-sale (POS) centers.

Moniepoint is TeamApt’s banking arm, established by Tosin Eniolorunda to provide a comprehensive business solution that offers last-mile banking services.

Their objective is to drive the entrepreneurial aspirations of the African economy and advance the financial sector.

In summary, these are the areas we shall be touching on in this article;

• How much is Moniepoints POS
• Type of Moniepoints POS
• What is Moniepoint’s daily target?
• How long will it take you to get a Moniepoint POS?
• What are Moniepoint POS charges?
• How to Become a Moniepoint Agent
• What do I need to apply for Moniepoints POS?
• What are the things you can do on the Moniepoint?

Let’s get right into it❗️

How much is Moniepoint POS

Moniepoint POS is twenty thousand Naira (N20,000). But there might be other additional fees like logistics. The twenty thousand Naira you are paying is called the “Caution fee”.

The caution fee doesn’t mean you’ve bought the POS. Because even with the caution fee the Moniepoint company has the right to call back the POS from you.

If the Pos is still in good shape, 50% of the caution fee (ie N10,000) will be returned back to you. But if the POS is not in shape when you returned it, the caution fee is what will be used to cover the repair cost meaning; “you will have no refund”.

So, the caution fee you pay for a Moniepoint POS can be seen as a guarantor (in legal terms).

Type of Moniepoints POS

Moniepoint has two types of pos machine

• Traditional POS
• Android POS

The traditional Moniepoint POS has both the button and the touchscreen function. It is also the most common Moniepoint pos among Moniepoint agents.

The reason why the traditional Moniepoint pos are common is, that, most Moniepoint agents feel it is stronger than the android Moniepoint POS.

The Andriod Moniepoint POS has no button, but only the touchscreen function. To most Moniepoint agents, it might not be strong compared to the traditional Moniepoint pos, but it is more convenient and easy to use.

Another setback, why most Moniepoint agents prefer the traditional Moniepoint pos, is because the traditional Moniepoint pos is easy to carry about and can hardly develop fault if it falls down by mistake.

But normally Moniepoint aggregator usually advises you to have both (if it is available) as a Moniepoint agent.

What is Moniepoint’s Daily Target?

The Moniepoint official daily target for all their agents is 40,000 (Withdrawal, Transfer, and bills Inclusive).

The Moniepoint daily target is the total volume of transactions done both from the POS machine and from the web; whether the transactions are coming from withdrawals, transfers, or from bills payment. if the total volume makes up to N40,000 for that day, you have met your daily target.

But aggregators won’t tell you the official Moniepoint daily target (N40,000), because they get more commission if you do more transactions.

So what they normally tell those who want to register as a Moniepoint agent under them is; “the daily target is N100,000”.

Some aggregators even go as far as saying it is N300,000 daily target.

It is not really their fault that they are giving agents such outrageous daily target figures, it is because they want to avoid monthly bad reports. And the high daily target they give is also a way to filter out lazy agents.

But to be sincere with you, it is very easy to meet the official daily target of N40,000 and even the estimated aggregator daily target of N300,000.

Because one person can come and do a card transfer of N500,000 once to one account. -That one transaction alone has met your daily target.

So you don’t need to be scared when they tell you about Moniepoint’s daily target.

This article will reveal more to you on how you can make 1 million Naira monthly from POS business.

In case you asking, “What will happen if I don’t meet the Moniepoint pos daily target?”

If you don’t meet the Moniepoint pos daily target, you will be asked to return the POS after a set day, week, or month of grace. If you decline, the POS will be blocked and useless to you.

How long will it take you to get a Moniepoint POS?

Getting a Moniepopint POS takes a day as a new POS agent, but as an established POS agent from Monieponit or any other pos company, it can take less than 2hours.

But you will have to get the POS through an aggregator.

If you don’t have an aggregator and you need me to help you with one, drop a comment in the comment section below saying; “I need a Moniepoint aggregator” and I will be there to assist you😎.

What are Moniepoint POS charges?

Moniepoint charges differently on the type of transaction. For withdrawals, Moniepoint charges 0.5% on every N100. That is N5 on every N1,000.

But for withdrawals of N20,000 and above, Moniepoint charges a flat charge of N100. That is if a person withdrawals 200,000 from a Moniepoint POS, Moniepoint charges the agent N100 for that transaction.

For transfer, which is also known as deposit, Moniepoint charges a flat charge of N20 only no matter the amount.

While bill payment and Airtime are absolutely free of charge.

Now you might be thinking, why are agents now charging high? The reason why Moniepoint agents charge high is because of the cost of running the pos business such as;

• Office Rent
• Tax
• Salaries
• Stationaries; pos papers, books, pens, chairs, fans, etc
• Recurrent expenses

The POS paper alone cost N18,000 to N26,000 per carton depending on the POS size.

So don’t think they are extorting you, even though some are. But majorly the expenses to run a pos business, big or small are on the high side with inflation a major key player in the high cost.

Also, with this CBN cashless policy, many POS agents are buying cash 💰 to run the business because part of the policy says, you can’t withdraw more than N500,000 per week (including agent accounts).

All that factors have made the POS charges higher than it was before.

How to Become a Moniepoint Agent

There are two ways to become a Moniepoint Agent;

1. Through Moniepoint physical office
2. Direct contact with Moniepoint aggregator.

Through Moniepoint physical office

You can become a Moniepoint agent, by going to their physical office to get registered.

To Locate the physical Moniepoint office in your state, you can check this list.

When you get to their office, tell any of the staff you see that you want to become a pos agent with them”.

They will take you through the whole process and register you under an aggregator; who could possibly be the same person registering the agency account for you.

Direct contact with Moniepoint aggregator.

This is the common and convenient way to become a Moniepoint agent.

All you have to do is to meet any Moniepoint pos agent to help you with his or her aggregator’s phone number.

Call or chat with the Moniepoint aggregator, and tell him you want to become a Moniepoint pos agent.

He will ask you for some important information which we shall be talking about next.

Either of the two ways of becoming a Moniepoint agent is good, but contacting an aggregator is preferred by many pos agents because it can be done from the comfort of your home.

When the aggregator is done registering your agency account, he will send it to you (most times you pay for the logistics).

One thing that is common in both ways is, you must go through an aggregator before you can become a Moniepoint agent.

What do I need to apply for Moniepoints POS?

Before you apply to become a Moniepoint pos agent, there is a list of things you must provide to the Moniepoint aggregator before you can be registered as an agent. Such things are;

• Valid ID Card (NIMC, Voters card, International passport, or Drivers license)
• Nepa Bill (not older than 3 months)
• Passport Photograph (a selfie can also be accepted)
• BVN
• Email Address
• Signature

For the Signature, you can sign on a white plain piece of paper, snap it and send it to the aggregator (if you are registering through a direct aggregator).

The reason for the BVN is because of the CBN policy on “Know Your Customer (KYC)”

What are the things you can do on the Moniepoint POS?

With the Moniepoint POS, you can do a list of things such as;

• Withdrawals,
• Transfers/Deposit,
• Card Transfer
• Check Balance via ATM Cards
• Airtime,
• Pay bills,
• Lodging of Dispute,
• Cashout,
• Check Balance,
• Check Statements,
• Collections, and
• Synchronize the POS transactions manually,

Most of the things listed above can’t be done by most other companies’ pos machines. And in addition, they have a very tight security system that protects against fraud from both the agent and the customers.

Also Read:

• How much can I use to start a POS Business
• How to Become an Opay POS Agent 
• Learn the ways to make 7-figures in POS business
• PalmPay POS: How to Become a PalmPay Agent (in 5 minutes)

Conclusion

That is all you need to know about the Moniepoint POS and how to become a certified Moniepoint agent.

I hope you found this article helpful.

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