POS (Point of Sale) Business in Nigeria
💡 Why it Works
Nigeria has over 40 million unbanked adults, many still prefer cash for daily transactions.
ATMs are often overcrowded or “out of service.”
POS agents solve this problem by providing instant access to cash, transfers, and bill payments in local communities.
It’s a business with fast turnover, daily cash flow, and low barrier to entry.
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✅ Real Example
Chinedu in Surulere, Lagos started with just ₦150,000 float and an Opay machine.
He positioned near a bus stop where workers often needed quick cash.
On average, he serves 40–70 customers daily. With ₦100 charge on small withdrawals and ₦200+ on bigger ones, he makes ₦8,000–₦15,000 daily profit.
In less than 4 months, he recovered his investment and opened a second POS point.
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🚀 How to Start
1. Choose a reliable fintech provider
Popular options: Moniepoint, Opay, Palmpay, Firstmonie, Paga.
They provide machines, training, and support.
2. Get a good location
Look for areas with scarce ATMs, busy junctions, markets, or residential estates.
Visibility = customers.
3. Startup Cost
POS terminal: ₦20K–₦70K (depending on provider).
Float: ₦100K–₦300K (the money you use to pay customers who withdraw).
Table, chair, umbrella/kiosk (₦20K–₦50K).
4. Register properly
Some fintechs require basic ID, BVN, utility bill, and passport.
For trust, display your business name or a small banner.
5. Add extra services
Airtime & data top-up.
Bill payments (NEPA, DSTV, GOTV).
Betting & wallet funding (very popular).
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💰 Potential Earnings
Small town/estate POS point: ₦3K–₦7K per day.
Urban hot spot (bus stop/market): ₦10K–₦30K per day.
Monthly profits range from ₦100K to ₦400K+ if location is solid.
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🔑 Helpful Tips for Success
Security first: don’t handle huge cash at once; always balance float (cash vs. e-wallet).
Customer service matters: be polite, give receipts, and build trust—people prefer agents they trust with their money.
Stay consistent: don’t “close shop” too often; reliability keeps customers loyal.
Reinvest earnings: add more float or open a second POS point in another hot location.
Market smart: a simple banner like “Cash Withdrawal & Transfer Here – Fast & Reliable” works wonders.
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