Understand other POS related matters and all that is required to successful getobtain, enroll and use a POS device, anywhere in Nigeria.

Yes. You can start with your smartphone instead, and use cardless or USSD withdrawals in place of using an ATM card with a POS machine.  We always encourage new agents to start their mobile money business without POS machines - instead of exploring opportunities to purchase one. The money they spend to purchase can be used for float as they start their business.

Cardless withdrawal is  done through the App. Instead of the customer  using their card on a POS machine, they will follow the steps below:

  1. The customer will provide you their account details which you will put in the operator App.
  2. The customer will then get an OTP pin on the phone number attached  to their account, which they will input to the App.
  3. After verification, The money will then be transferred  from their account to yours (just like would have happened if they were using a POS).
  4. After you confirm, you can then give them cash.

There are a variety of reasons why there could be transaction failure on POS machines. Here are some:

  1. Most times, Telco Network challenges where the agent is.
  2.  System down time from the issuing bank, receiving bank or PTSP
  3. Customer having issues with his/her account
More information on handling transaction failure is treated in module 6.

A number of factors:

  1. You don't want to be caught with downtime of a particular operator
  2. Charges: You might be working with operators whose charges are fairer
  3. The services the POS offers

  • By ensuring that your POS devices are kept in safe and secure places.
  • Ensure that your PIN and Password are not revealed or compromised

  • Handle the device with care, because if the device falls, it can result in permanent damages.
  • Don't leave your terminals to customers
  • Avoid putting your POS in wet places or exposing it to liquid. Keep the device in a clean and dry place.
  • Don't over charge your POS battery.
  • Charge the devices with an appropriate energy source, preferably a power bank. Avoid using a generator (I pass my neighbor) to charge your POS.
  • Ensure there is printing paper and that the paper compartment is closed appropriately.
  • Clean cards before slotting them in to prevent dirtying of the card reader.
  • Avoid tampering with the device, call technical support when there is any issue.
  • If it's your personal POS, reduce the frequency of changing the SIM. That can damage the port.
  • Survey the area for the best data network and use that for your POS.

Issues most POSs have are mostly around:

  • Printing issues: e.g, it stops printing receipts
  • Battery Issues: e.g it can hardly stay on for long
  • Sim card issues: e.g, it never has network connectivity - even when other phone around have network connectivity.
If you notice any issue with your POS, the best course of action is to call the operator. Generally, operators frown at agents tampering with POS devices

The operator gives the SIM card and reloads the SIMCard data.

The operator will typically give a few at the beginning but you have to buy more when it finishes. Paper is N100 per roll and N1k for a bundle. A roll can do a minimum of 50 transactions. It is very advisable for Mobile Money agents to factor the POS paper into their cost and always have spare printing paper, so they are not caught unawares. Take note that some POSs will not work if you are out of paper, so unavailability of POS printing paper can slow down your business.