A POS machine is required to run a successful business, whether small or large. This is because most customers prefer to carry their debit cards with them rather than carry cash. As a result, it is critical for your company to invest in a POS machine to handle such sales.
That is why I will show you how to get a Point of Sale machine for your small-scale business in this post. Most people avoid getting a POS machine because they believe it is too expensive to own, but this is not the case. This post discusses the requirements and procedures for obtaining a POS machine.
What exactly is a POS machine?
A POS machine is a portable machine that enables businesses to accept cash payments via bank card. Point of Sale is an acronym that literally describes what it does. You can pay at the register. Using a POS device has numerous benefits that are enticing many business owners and individuals to do so.
Point-of-sale machines and payment systems were among the first to facilitate simple business transactions. You can now exchange a specific amount of money with a swipe, eliminating the need to sort or carry large sums of cash.
Types of POS Machines
There are different types of Point Of Sale machines available, however, the mobile Point Of Sale machines are the most common in Nigeria.
There are two other Point Of Sale Machine versions which are much larger, better, and can perform some additional functions. However, they are more expensive and are only found in high-end supermarkets.
The following are the types of Point Of Sale machines you can find in Nigeria:
- Countertop Point Of Sale machine
- Retail Point Of Sale machine
- Mobile Point Of Sale machine
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How to Get POS Machine for Your Business
To get a POS machine in Nigeria, you will be required to visit a Banking institution or Fintech company. However, these banks and financial institution have their own distinct procedures and forms you must complete to be able to get a POS machine.
Hence, there is no set procedure to get a Point Of Sale machine.
However, in this post, we will be showing you how to get a Point Of Sale machine from notable financial institutions.
You must have held your current account for at least six months prior to applying for a zenith bank Point Of Sale machine. They would present you with a form to fill out if you expressed interest. This form includes the following information:
- Account number for the business owner
- Your company’s email account
- Telephone number
- Additional information
Processing takes approximately 72 hours, and you must email the completed form to email@example.com. The final step is to sign a POS agreement document with the bank, and your device will be ready for pickup.
GT Bank current account holders have exclusive access to Point Of Sale machines. They also require that the account be open for at least six months and that you fill out a request form.
This form can be emailed to firstname.lastname@example.org or handed into a supervisor. Upon collection, you must sign a POS agreement form.
To get a Point Of Sale device from First Bank, simply go to the nearest bank branch and complete the POS device application form. The machine would be ready a week after a successful application, and it would be completely free.
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Polaris Bank appears to be the most lenient among Nigerian banks, allowing both savings and current accounts to own a Point Of Sale device. Simply apply for the machine by completing the required form and waiting 14 days for it to be ready.
Visit the Polaris Bank website to fill the online form, or head to the closest Polaris bank branch near you to complete the form.