How to Get a POS Machine in Nigeria: Your Ultimate 2025 Guide

So, you’ve been thinking about getting a POS machine? Good. ‘Cause if you’re still collecting only cash in 2025, you may as well be accepting cowries. 

These days, every sharp business, whether you’re selling akara, phone accessories, or managing a small supermarket, needs a POS machine.

Maybe you’re here because you want to start a POS business, add another payment method to your shop, or become that neighborhood “POS plug”, I’ve got you. 

This no-fluff guide breaks down how to get a POS machine in Nigeria, without headache, hidden costs, or unnecessary wahala.

Let’s get into it before your next customer starts murmuring, “You no get POS?”.

Why Get a POS Machine? 

Do I even need to tell you why you need to get a POS? 

I mean, it’s very obvious that Naija is going full cashless. I, for one, don’t walk around with cash anymore, and neither does a large number of the nation’s population. Having a POS machine is no longer just a “nice to have.”

Here’s why you should get one:

• Cashless convenience: No more chasing change or dealing with “Madam, I go pay later, I no get cash.”

• Extra cash flow: Charge transaction fees as a POS agent, and you get a daily income by offering a variety of services.

• Better customer service: Nobody likes hearing “we no get POS or our POS no dey work.” Be the business that makes sense.

• Business growth: Accept payments everywhere, market, salon, or that hustle you’re running from your parlor.

Trust me, your POS machine’s beeping is basically the sound of money entering.

Step-by-Step Guide: How to Get a POS Machine in Nigeria

Alright, let’s get down to the nitty-gritty. Here’s your roadmap.

Step 1: Meet the Basic Requirements

Before anyone hands you a POS, you’ll need to show you’re serious. Here’s what most providers ask for:

For Individuals (POS Agent Requirements):

• A valid means of ID (National ID Card/NIN Slip, Driver’s License, International Passport, or Voter’s Card).
• BVN (Bank Verification Number).
• Your account number (linked to your BVN, of course).
• Two passport photographs.
• Proof of address (e.g., a recent utility bill like your NEPA or LAWMA bill).
• Sometimes, you might need guarantors.

For Registered Businesses (Merchants):

• All of the above, plus:
• Your business registration documents from the CAC (Corporate Affairs Commission).
• Your business’s Tax Identification Number (TIN).
• A corporate bank account for your business.

Quick Tip: If you’re applying through a fintech, the process may be much faster and sometimes doesn’t require CAC registration.

Step 2: Decide Where to Get Your POS Machine

You’ve got options, my friend. You can get a POS machine from:

• Commercial Banks: These are the GTBank, Zenith Bank, Access Bank, etc. They’re a reliable choice, especially if you already have a good relationship with your bank. They often provide the machine for free, but you’ll need to meet certain criteria, like a minimum monthly transaction volume.

• Fintech Companies: When you talk about fintechs, a few names are kings of the street. OPay is everywhere, known for its massive agent network and fast sign-up. Then you have Moniepoint, which many agents swear by for their super-reliable Android terminals. But other players are changing the game, especially for business owners who want full control. A company like Supply Smart, for instance, focuses on a different model. Instead of leasing a machine, you buy it once and own it forever, with no fear of someone coming to collect it.

• Agent Banking Networks: These are companies that specialize in building networks of POS agents across the country. They provide you with the machine, the branding, and the support you need to run a successful POS business.

Step 3: Start the Application Process

So, how do you actually apply?

• Walk into a Bank Branch: The old-school, reliable method. Go to your preferred bank, ask to speak with the person in charge of e-business or merchant services, and they’ll guide you through the process.

• Apply Online: Many fintech companies have a seamless online application process. You just visit their website, fill out a form, upload your documents, and wait for a response. It’s fast, easy, and you can do it from the comfort of your home.

Step 4: Understand the Cost

“So, how much is this going to cost me?” How much to budget, so you don’t end up shouting “Ah-ah! Just for machine?!”

The POS machine cost varies. Here’s the breakdown:

• Banks: Often, banks will give you the machine for “free,” but there’s a catch. You’ll likely have to pay a security deposit or a non-refundable caution fee (usually between ₦25,000 and ₦75,000 – please make sure you confirm this). You also need to meet a monthly transaction target, or they might take the machine back.

• Fintechs: With fintech companies, you might have the option to buy the machine outright or pay a lease/caution fee. Prices can range from ₦20,000 to over ₦100,000 depending on the type of POS. The good news is that their transaction fees are often very competitive. 

This “buy outright” model is a major advantage. For example, with a Supply Smart POS, once you make that one-time payment, the machine is 100% yours.

As for timelines? It can take anywhere from 24 hours (with some fintechs) to a few weeks (with some banks). It all depends on how quickly you submit your documents and the provider’s backlog.

Quick Tip: Don’t be afraid to look around! Compare the fees, the transaction charges, and the support offered by different providers before you commit. The POS business in Nigeria is competitive, so use that to your advantage.

In a nutshell, to get a POS machine in Nigeria, you need to apply through a commercial bank or a fintech company. For most providers, you’ll need to prepare basic documents like a valid ID (NIN, Driver’s License), your BVN, proof of address (like a NEPA bill), and passport photos. While fintechs often allow individuals to apply online quickly, banks might require you to have a business account and visit a branch.

Types of POS Machines in Nigeria: Know Your Options

Now that we’ve talked the “how,” let’s look at the “what.”  Here’s the rundown:

• Traditional POS Terminals: These are the sturdy, classic machines you see in supermarkets and banks. They’re reliable, print receipts, and are perfect for businesses with a fixed location.

• Mobile POS (mPOS): These are smaller, often handheld devices that connect to your smartphone or tablet via Bluetooth. They’re perfect for businesses on the go, like delivery services, food trucks, or Instagram vendors who do pop-ups. They’re sleek, portable, and very convenient.

• Android POS Terminals: These are very cool. They look like a smartphone but with a built-in printer. They run on Android, so you can often install other business apps on them. They’re the all-in-one solution for the modern business owner.

Common Mistakes to Avoid (Don’t Be That Person)

Lol, let me spare you the “I wish I knew…” regrets. Watch out for these rookie mistakes:

1. Falling for scams

That “guy” in your compound selling POS with a loud mouth may be vibing you into tears. Only buy from verified agents, banks, or fintech companies.

2. Ignoring location rules

Some providers restrict where their machines can operate. Applying for Lagos and trying to activate in Aba? Wahala ahead.

3. Not meeting transaction targets

If you go ghost for too long, many companies block or collect their machine back. Stay active and move transactions, even small ones.

4. Paying for fake training

Becoming a POS agent should not involve “pay ₦10,000 for orientation.” If it smells fishy, it probably is.

POS Application Form

First Name * Phone Number * Address * State * Monthly POS Transactions * -- Select --Less than ₦100,000₦100,000 – ₦500,000₦500,000 – ₦1 millionOver ₦1 million Submit

Frequently Asked Questions

How can I get a POS machine online?

Easy! The fastest way to get a POS online is through a fintech company. Just visit the website of a provider like SupplySmart, Moniepoint, or OPay. You’ll typically fill out an online application form, upload digital copies of your documents (like your NIN slip and a utility bill), and submit. If approved, they will contact you for machine delivery or pickup. No need to enter a bank hall.

How much do POS agents make daily in Nigeria?

There’s no single answer, as it all depends on your location and how many transactions you do. A POS agent in a busy market can make anything from ₦5,000 to over ₦15,000 in profit daily. Someone in a quieter residential area might make ₦2,000 to ₦4,000. The key is volume; the more people you serve, the more you earn from charges.

Can I get a POS machine without a CAC registration?

Yes, you can! If you are applying as an individual to become a POS agent (not as a registered business merchant), most fintech companies will give you a machine without CAC documents. You will just need your personal details, like a valid ID and BVN. However, if you want a POS for your registered business name, you will need your CAC papers.

What are the cheapest POS machines?

The “cheapest” can be tricky. Banks might offer you a “free” machine, but you’ll pay a caution fee and be pressured to meet high transaction targets. If you want to own the machine outright with less pressure, the cheapest options are usually the smaller, mobile POS (mPOS) devices from fintechs, which connect to your phone. Their prices can start from around ₦20,000.

Final Word

If you’ve read this far, I can say you now have all the insider info on how to get a POS machine.

So, what are you waiting for? Get your documents ready, pick your provider, and start the application.
And if you’re ready for a POS you own completely, apply for your Supply Smart POS today. I’m rooting for you!