POS is becoming a fast means of transacting and making payments for something quickly.
POS terminals play a key role in the actualization of the cashless banking objectives as they become a more popular means of receiving payments and transacting business.
There are many banks that you can use to start the POS business in Nigeria.
What is the minimum size of merchant business to qualify for POS?
POS equipment is expensive. Therefore, we target merchants that do a minimum of N1,000,000 turnover per month, or N35,000 per day. The business should also have controlled access to the POS terminals.
- Payments for purchase
- Balance enquiry
- Accepts all Cards (Visa, MasterCard, Verve)
- Other Value Added Services (Bill Payments, Air time vending)
- Merchant has access to view transactions online real
How to get POS Machine from UBA Bank
To get POS from UBA is also simple as well. Their requirement is not that difficult to meets. All you need is to do do a minimum of N1,000,000 turnover per month, or N35,000 per day.
You can even request for more than one POS from UBA. To apply, you will have to print a form on the internet, scan it and deliver it to any UBA office close to you. After that, you will now have to go to e-Banking Helpdesk and log in, choose New Log, and select the e-Banking option, on the Request Type: Select Request, on the class select PoS, on the select PoS – TAMS (PoS Multi cards Acceptance) Request.
After completing the form, click CONTINUE and on the new screen that pops up, click Browse to attach the scanned mandate and submit. Now you will be issued a number similar to this IT201206283615 for future tracking.
UBA Bank will contact you to deliver the POS machine which usually takes up to 5-7 working days outside Lagos and 3 days within Lagos.
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