On this page, you will discover how to apply for, an get an approved POS machine from Opay.
Are you looking forward in opening a POS outlet in any part of the country? Or are you interested in knowing how to successfully apply for an approved POS machine from Opay Nigeria?
We welcome you to this page as all you need to know in relation to getting an approved POS machine from Opay will be revealed shortly.
POS business is one of the easiest and lucrative businesses to start in Nigeria which doesn’t require much. Lots of POS business owners in Nigeria makes between ₦5 to ₦20k in profit daily.
This is surely a mind blowing business idea which a lot of people haven’t understand the benefit yet. However, the business is saturated in some environments which in turn reduce the earning potentials of operators with POS outlets in that location.
In some locations, POS operators are opportune to service 50 to 100 transactions daily while charging ₦100 to ₦150 for every ₦10,000 transaction. This result them in earning a lot which makes POS business a profitable business idea to start in Nigeria.
Surely, I know you are already interested in getting started having seen the earning potentials of operating a point of sale (POS) outlet in Nigeria. See below for a detailed guide on how to get started with POS business with Opay.
Starting POS Business in Nigeria with Opay
Opay is one of the leading micro finance banks/platforms in Nigeria serving the nation with top notch finance services. The company is licensed under the Central Bank of Nigeria (CBN) to carry out financial services to Nigerians within their jurisdiction.
Ordering for a POS machine from Opay and finding a suitable location to open your POS outlet is all you need in getting started with POS business with Opay.
However, a little capital will be required from you in acquiring for a POS machine itself from Opay as it is not free. See the costing below;
What is the Cost of Opay POS Machine in Nigeria?
An Opay POS machine comes in various sizes and price too. The cost for an Opay POS machines are; ₦8,500 for mini POS machine, ₦35,000 for traditional Opay POS machine and ₦50,000 for Opay smart POS.
All are a great choice and perform basic features to get your POS business going smoothly. Having known the prices of an Opay POS machine above, let’s get started with the requirements for applying for an approved POST machine from Opay.
Requirements for Starting a POS business with Opay
The basic requirements and eligibility of applying for an Opay POS machine can be seen below;
- You must have an Opay account
- Applicant must upgrade KYC to Level 3 on the app
- Applicant must have a BVN linked to his profile on the app
- Profile photo of applicant must also be uploaded for verification
- Applicant must apply for and be converted to a merchant account on the application.
- Interested applicant must have uploaded a recent utility bill
- Possession and uploading of any government issued ID card is also compulsory.
With all above documents and requirements completed from your end, you can begin with the POS application process as seen below.
How to Get a POS Machine from Opay [Full Process]
The below procedures will walk you through on how to apply for and get an approved POS machine from Opay within 72 hours.
Complete KYC verification to Level 3
The first step to take in applying for a POS machine from Opay is making sure you’ve completed the KYC verification stage to level 3. See below for how to complete;
- Launched the Opay application on your smartphone
- Navigate to your profile section on the app
- Tap on KYC verification batch to proceed. (you can skip remaining step if your batch is showing “Level 3”)
- Now upload a new profile photo
- Upload a snapshot of your government issued identity card
- Upload a recent utility bill of not more than 3 months in appropriate field and submit.
- Verify if you are in level 3. Otherwise, make sure to completely fill all empty spaces in your account.
Having completed the KYC verification processes, you can then begin with applying for a merchant account. See below for full details.
Apply for a Merchant Account
Owning a merchant account is that which allows you get a POS machine from Opay. Without a merchant account, you won’t be issued a POS as you will be considered as a private individual and not a business. See below guide for how to apply for a merchant account on Opay;
- Navigate to your profile section in the Opay mobile application
- Tab on “account details” just below your profile photo
- Scroll down, locate and click on “Upgrade to Merchant” option
- Completely fill the form on your screen with all needed information (business name, address etc)
- Tab on upgrade when done filling the form to submit your application.
You will be contacted within 48hrs by Opay team via an email you provided while filling the application form. The email you receive will let you know whether or not your application is approved.
If approved, it means you can now request for a POS machine. Otherwise, you will have to send a new entry.
Order for a POS Machine
Having upgraded, you can follow below process to order for a POS machine from Opay.
- Launch the application and go to merchant section
- Tab on the POS application option on your screen.
- Select the POS type and click on order button.
- You will get a debit from your account and the POS machine will be delivered to your location.
Hopefully, this guide should serve you perfectly. You can reach to us if you have further enquiry to make in relation to how to get a POS machine from Opay.