Free Access To Email Exclusive ContentGet notified and be the first to know when new & hot content drops
HomeBanking7 Best POS Machine Providers for Businesses in Nigeria

7 Best POS Machine Providers for Businesses in Nigeria


Do you own a business in Nigeria, and you need a better way to carry out transactions, especially those that involve large sums of money? Then, you should try adding a point-of-sale (POS) system to your business operations. 

Using a POS for your business in Nigeria offers so many benefits. So if you have decided to get a POS machine for your business transactions and you are wondering where you can get the best one you are in the right place. 

The main providers of point-of-sale machines in Nigeria are commercial banks and FinTech companies. Hence, this guide discusses the 7 Best POS machine providers for businesses in Nigeria under the two categories of point-of-sale machine providers. 

Fintech Companies


Opay point-of-sale machines have become very popular and are one of the best in performing faster and limitless transactions. This machine is suitable for all businesses and is an excellent option for those who want to start a point-of-sale business.

Opay is one of the best POS machine providers in Nigeria that can provide you with a very affordable solution for all your business transactions. 

If you get a point-of-sale machine from Opay, you will be entitled to a 12-month warranty allowing you to lay complaints and get free repairs by their customer service team. The warranty also let’s return the machine if you discover it has a fault from the manufacturer. 

In addition, you will get lifetime technical support for free if you partner with Opay. The platform offers three different types of point-of-sale machines at different prices. 

  • Opay mini point-of-sale machine – 8,500 naira. 
  • Opay traditional point-of-sale machine – 35,000 naira. 
  • Opay Android/Smart point-of-sale machine – 50,000 naira. 

Requirements to get an Opay POS Machine

Regardless of the type of Opay point-of-sale machine you plan to get, the requirements are the same. So here are the essential things you will need to apply for an Opay point-of-sale machine in Nigeria. 

  • Your first name and surname. 
  • BVN number.
  • Utility bill.
  • Well-captured recent Passports.
  • Your Shop or company address.
  • Valid identity card (ID card).


Kudi is one of the fastest-growing Fintech companies in Africa. It is a leading international POS provider based in Nigeria and has many branches in Ghana and Kenya.

Whether you run a restaurant business, shopping complex, hotel, boutique, or any other business that requires monetary transactions, Kudi point-of-sale machines will make your business operations more efficient and secure. 

See also  UBA Bank Savings Account Limit

Kudi is CAC registered, so you don’t have to worry about insecure transactions or missing funds. Kudi point-of-sale machines are free, but you will pay a caution/deposit fee of N20,000. 

Requirements to get a Kudi POS machine 

  • You may be required to provide a statement of account or end-of-day transaction report to prove that you can consistently meet the transaction target on the point-of-sale system. 
  • A compulsory nonrefundable N20,000 fee. 


Moniepoint point-of-sale machine is designed to help big and small businesses process faster and more secure transactions. Moniepoint is a newly established Fintech company based in Nigeria looking to expand its services to other parts of Africa. 

Moniepoint point-of-sale machines are free. However, to get the machine, you must first become their agent by completing all requirements. This process might take some time, but there is a faster option if you cannot wait to get the free machine. 

You can simply visit their offices closest to you and purchase the point-of-sale machine at N25,000 to save you time and stress.

Requirements to get a Moniepoint POS Machine 

If you want to get a Moniepoint POS Machine either for your business transactions or to start a point-of-sale business, you must meet the following requirements. 

  • Be a Nigerian. 
  • Must be 18 years and above. 
  • Own a smartphone. 
  • Be tech-savvy.
  • Provide a recent utility bill, a certified business licence, BVN, and your bank account number. 
  • You may need a valid ID card. 

Commercial Banks

When getting the point-of-sale machine for your business, there are no advantages or disadvantages of commercial banks over Fintech companies, and there isn’t much difference between them.

The only difference is that banks have a longer application process and strict requirements, unlike most Fintech companies with faster and easier processes. However, if you want to get a POS machine from a bank, here are some of the best banks that provide POS machines in Nigeria. 

First Bank

First Bank has a POS agency known as Firstmonie. The Firstmonie initiative was introduced to help extend financial services and reduce the workload on the bank staff. Today the Firstmonie point-of-sale machine is one of the most reliable and affordable banking systems in Nigeria, making it a perfect tool to enhance your business operations. 

You can perform different transactions with the Firstmonie point-of-sale machine, including enrolling for BVN, paying bills, opening a First Bank account, buying airtime, sending money to other banks, depositing money, and withdrawing money from any bank. 


First Bank’s point-of-sale banking system charges 0.75% per transaction, which is an amicable price that won’t affect your business’s profits or make your customers uncomfortable. 

Requirements to get a Firstmonie POS Machine

  • You must operate (send and receive money) a First Bank current account for at least one year before applying for the Firstmonie point-of-sale machine. 
  • If you need the point-of-sale machine for individual use, you may need at least N50,000 as working capital, but if you need the point-of-sale machine for your business, you may be required to have at least N250,000 as working capital. 
  • Lastly, you may be required to submit the location of your business office. 

Zenith Bank

Zenith bank point-of-sale machines offer fast and secure transactions, which is what every business owner desires. However, if you run a POS business, to get a POS machine from Zenith Bank, you must operate an account with the bank for at least six months before you can qualify to be a POS agent. 

Also, for business owners, you need to operate an account for at least six months, and the bank will monitor your daily transactions for that six months before they approve your business and give you the point-of-sale machine. Zenith charges 0.75% per transaction, which is a fair price for both big and small businesses. 

Requirements to get a Zenith Bank POS Machine

  • You must have an existing current account for at least six months before applying for the point-of-sale machine. 
  • You may need a valid ID card, a recent utility bill, and recent passport photographs. 

Wema Bank

When considering commercial banks to get the point-of-sale machine from, you might not consider Wema Bank because it is not so popular yet.

However, you might like to consider this bank because of their low charge rate compared to other banks, and regardless of their low charge rate, they still provide fast and secure transactions with their POS machines. Also, you can perform the same transactions that other commercial banks’ POS supports.

Wema Bank has a point-of-sale agency known as Wemapay, and this agency provides a reliable, affordable, and safe banking system for all kinds of businesses. So it is definitely one of the POS machine providers you should try in Nigeria. 

See also  Sterling Bank Loan Including  Code

In addition, Wema Bank’s charges are relatively lower than most commercial banks’ POS charges; this can be an excellent advantage to your business, especially if you run a small business. 

Requirements to get a Wemapay POS Machine

  • You may need a minimum capital of N50,000.
  • You must operate a Wema Bank current account before applying for the point-of-sale machine. 
  • Evidence of business registration. 
  • Valid ID card and recent passport photographs. 
  • You may also be required to provide a recent utility bill. 

GT Bank 

GT Bank, short for Guarantee Trust Bank is also one of Nigeria’s best point-of-sale machine providers. GT Bank point-of-sale machines are very popular in Lagos and other parts of Nigeria. These POS machines provide a modern, convenient, and safer means of processing payments for businesses whether big or small. 

The bank has made sure that there is no difference between the POS services and the real banking services; this is why most businesses love to use GTB point-of-sale machines for better and safer transactions. In addition, if you get a GT Bank POS machine for your business you may enjoy 24/7 customer support from the customer service team at the bank.

Requirements to get a GT Bank POS Machine 

  • You must operate a GT Bank current account for at least six months before applying for the machine. 
  • You may also be required to provide a valid ID card, recent utility bill, and passport photographs. 

Read also:  How To Easily Link Your National Identification Number To Your Mobile Number

Now that you know the best 7 POS Machine Providers for Businesses in Nigeria, it would be best to get one for your business to make faster, safer, and more secure transactions. This can significantly help improve your business operations and staff efficiency and can also help you satisfy your customers.

In addition, getting a POS machine for your business can help drive sales; since people now prefer easy and flexible payment methods, they might choose your services over others that still practice traditional payment methods. 


Free Access To Email Exclusive ContentGet notified and be the first to know when new & hot content drops




Please enter your comment!
Please enter your name here

Recommended for you

Free Access To Our Email Exclusive ContentIn investing, what is comfortable is rarely profitable.

Join thousands of subscribers benefiting from our exclusive premium content on savings, investing, small business, marketing, real estate, e-commerce, and logistics.