Starting a POS business in Nigeria is profitable and can serve as a financial source for you for financial stability.
Before you can start a POS business you will need to own or rent a POS machine for a smooth business.
This is where the OPay POS comes to your rescue, OPay POS is one of the popular POS machines in Nigeria in terms of services, price, and charges.
Let’s talk more about OPay POS…
What is OPay POS all about?
OPay is a mobile money platform operated by OPay Digital Services Limited and licensed by the Central Bank of Nigeria.
It was launched in June 2018, the company has spread its services across all 36 states in Nigeria with over 300,000 mobile money merchants.
OPay POS services comprise services that enable the smooth operation of micro banking which helps people bank without having to visit the bank physically.
The POS services are targeted at small neighboring areas which are under-banked, this boosts the banking process.
OPay POS Services:
- Airtime and Data purchase
- TV subscriptions payments
- Fast & Secure cash Transfers
- Electricity bill payments
- Deposit and Withdrawal of cash
Before you can be able to offer the above services and earn money while you do them, you have to register as an OPay agent via the OPay Portal for the OPay POS Terminal.
OPay POS Application Requirements
To apply for the OPay POS machine in Nigeria, you need to meet the below requirements:
- You must be above the age of 18 years
- Must possess any form of Valid Identity card (National ID, Voter’s card, and others)
- You need to present your business name
- Provide your first name and Surname
- You must also present your work E-mail
How to apply an OPay POS in Nigeria
To apply for an OPay POS machine in Nigeria, you must follow some steps and we will guide you with the below instructions:
- Start by downloading and installing the OPay App on your device
- Create an account (if you don’t have one)
- Sign in to your account
- Navigate to the profile and upgrade KYC to Level 3
How to Upgrade your OPay account to KYC Level 3
To upgrade your OPay Profile to KYC Level 3, you need to follow the below steps:
- Navigate to the ‘Me’ section
- Click on the picture icon (top left) to visit the Account Details
- Click Upgrade to Level 3
- Upload your photo
- Upload a valid ID Card (Int’l Passport, National ID, Driver’s License, or Voters’ Card)
- Upload a recent utility bill (PHCN bill, rent receipt, or water bill)
- Upload your BVN
- Click on the Submit button
After registration, you need to wait for at least 48-72 hours for the OPay team to review your application so as to approve or decline your KYC.
You will be notified about the status of your KYC submission.
How to Apply for OPay Merchant Profile
As soon as your account has been upgraded to KYC level 3 you will have the option to switch your profile to Merchant. To do that, follow these steps:
- Navigate to the “Me” section
- Click on the photo icon (top left) to see account details
- Click on Upgrade to Merchant
- Fill out your business information (Business name, address, email, and others)
- Click next and fill in the required information
- Finally, click on the Upgrade button
Right after the process, you will need to wait for the OPay team’s decision on whether to approve or decline your request.
OPay POS Machine prices in Nigeria
The OPay POS machine prices in Nigeria are as follows:
N8,500 for OPay Mini POS.
N35,000 for OPay Traditional POS
N50,000 for OPay Smart POS
OPay physical address is located at Alexander House, Otunba Jobi Fele Way. Ikeja. Lagos, Nigeria.
Their office service hours are Monday – Friday from 9 AM to 5 PM (WAT)
OPay Customer Support
You can contact the OPay customer support via the below channels:
E-mail address: email@example.com
Phone Number: +234 (01) 8888329.
OPay POS Application Frequently Asked Questions F.A.Qs
Where and How Do I Download the Opay App?
To download the OPay app for your Android device do that via the Google Play Store by clicking on this link here
To download the OPay app for your iOS device do that via the Apple Store by clicking on this link here
What are the requirements to get OPay POS?
First, you need to own an OPay account. You also need to have a good transaction history on your OPay account and must be active with multiple transactions on your POS machine.
How much is needed to apply for OPay POS Machine in Nigeria?
Applying for the OPay POS is free, under different situations. You are needed to keep at least N20,000 in your OPay wallet (known as the caution fee).
The fee serves as a surety for the return of the POS terminal machine in case of loss.
How do I get OPay Free POS in Nigeria?
To get OPay POS for free in Nigeria, you need to become an OPay agent. That is done via the OPay app which can be downloaded via the Google Play Store or iOS store.
How long does it take to get OPay POS?
To get hold of your requested OPay POS, you will need to wait for the OPay team review to be completed and it takes at least 24 – 72 hours. Once approved, you will get notified as to where you can pick up your OPay POS.
How much does OPay charges per POS transaction?
Charges for withdrawal are 1% for the amount below N20,000 and N120 for N20,000 upward.
The charge of 1% has become the fixed point of charge.
Making use of the OPay POS machine can be profitable, and it is affordable with minimum charges compared to some other POS.
It is easy to apply for the OPay POS machine as long as you have met the requirements and applied via the right portal.