Moniepoint is one of the transaction processing channel in Nigeria. With moniepoint, you can easily make withdrawal, transfer, buy recharge card and also, pay for utility bills.
How Do I Become MoniePoint Agent ?
To become a Moniepoint POS agent, you need to follow the processes below:
- Visit their official website at https://moniepoint.com/
- Fill the registration form for Moniepoint agents and submit
- Confirm your email address and phone number and an agent would reach out to you after 48 hours of registration
- The agent would guide you on what you need to do, after which they would confirm you as an agent
- Lastly, login to the Moniepoint POS dashboard to manage your account
What are the documents required to become an Agent?
The following documents will be required
- A verified Identity card such as International Passport, National ID Card, Drivers License or Voters Card
- Utility Bill (Nepa Bill)
- Business License (For Registered business only)
- Valid BVN
- Valid Bank Account Number
How much is moniepoint POS machine in Nigeria?
Moniepoint POS machine cost N25,000 flat rate. This machine can only be gotten in their approved centers nationwide.
How to Operate moniepoint POS
You might be trying to open a POS business and want to know how to operate moniepoint POS business. Moniepoint POS is one of the easiest POS to operate among others in Nigeria. This is due to fact that their POS is plug and read type of POS.
All you need to do is to just slot in your card to the card reader then allow the machine to read the card.
You will be prompt to enter your password and then select the kind of transactions you’ll like to do.
Thereafter, you’ll be advised to provide the amount and account type, then proceed to perform transaction.
Vendors are allow to often load their wallet in order to perform aforementioned transactions.
How can I contact Moniepoint POS?
You can contact the company through any of the following means:
Office Address: 2 Wole Ariyo St, Lekki Phase 1, Lagos, Nigeria.
Phone: +234 814 150 0017 (Whatsapp only)
How to solve Moniepoint transaction limits
Transaction limits happen because you’ve not update your KYC(Know Your Customers). No organisation trust someone that they didn’t know very well because all the liability from the client is on moniepoint.
Moniepoint would like to know you better that’s the reason they put you on transaction limit.
Moniepoint set a transaction limit for those who haven’t upgraded to a business level. Basically, at some point, you might encounter an error stating “the transaction exceeds the daily transaction limit”, because you have hit the maximum you can transfer for the default level (KYC level 1). Therefore, at that point, all you need to do is upgrade your KYC level to a business and they would remove the limit. Follow the process below to upgrade to KYC business level:
- Login to your Moniepoint account and navigate to KYC level
- Scroll to your dashboard, click menu, and select settings
- Select upgrade from the menu that drops down and that is all
Also, you can contact the team if you’re finding any trouble upgrading.
Moniepoint transaction charges
Compared to other POS facilitators, Moniepoint’s transaction charges are really low, and arguably the cheapest. Basically, the charges are based on the number of transactions you carry out and not depending on the bank unlike other POS services do. This fixed charge stands at N20 to all banks in Nigeria.
Also, the charge for withdrawing up to N4,000 is simply N6.2, although it increases as the amount withdrawn increases. Basically, asides from these, Moniepoint does not charge any extra bank fees, unlike many other POS services providers.
Adeyinka is the founder and content creator at Career Acada. He’s a technology expert and web developer. He holds a degree in Genetics and loves impacting life for a better society.