How to Make Huge Money through PoS Machine

The major thing we all think about doing all the time is making money and there are several ways by which we can make money in life.

Making money is the thing we consider to be the hardest thing in life while people use different ways to make their money.

Some use legitimate way to make their money while some use the other way to make money.

Whichever way you use, you still making money.

It is now left to you to decide whether to use legitimate way to make your own money or otherwise.

You have been making money through different ways but I want to show you another spectacular way in which you can start making money 

PoS business. A Point of Sale business is the business trending in town now. it is very easy to start and doesn't cost you fortune to start.

 

 

all you need is a small capital and a business location with your banner.

now, let's get down to real business.

A PoS is a hardware machine that you use to process card payment at a retail location.

You want make a transaction without visiting the bank or going to the ATM centre, PoS is another retail outlet you can use to perform your transaction.

If you are also running a super market or any other business that requires people to pay by hand, you can request for a PoS terminal and this will surely make payment for your goods more easier. 

It also safeguards both your money and the seller's money because you guys don't need to be afraid of thief before transacting with each other.

There are some services you can perform through the use of PoS machine which are:

• Withdrawal of Money.
• Sending of Money.
• Payment of Bills.
  
• Purchase of Recharge cards.
• Purchase of Data.
  

Withdrawal of Money

If someone sends you money, it's a thing you visit the PoS to withdrawal the money with a token amount of charges depending on how much you're withdrawing.

Sending of Money

You can use PoS to send money to your loved ones within the country.

Payment of Bills 

Bills such as Electricity bill, Water bill, Cables like DSTV, GOtv, StarTimes and so on.

 

How to Make Money through PoS Business

Making money through PoS is simple and straightforward.

 

But, let us discuss how to request for the PoS first  

You can request for PoS terminal in two ways  namely:

1. Bank
   
2. Merchant
   

  

Let's look at the procedure to follow if you're requesting it through bank

• The first thing to know is that you have to have an account with that particular bank before you can request for their PoS.
• If you already have an account with the bank, you'll be given a PoS application form to fill
• After submitting the form, your bank will assess your creditworthiness.
• If you are creditworthy, they will link your bank account with the PoS.
• You will then be asked to deposit at least #50,000 in the account that will be used to be running the transactions daily.
• Then, you will be given a quick teller application which will serve as initial means of using the awaiting POS

 

Note: bank wants to see how well you are transacting through the mobile application before they can give you the PoS machine as it may be difficult to get the PoS if you are not performing well with the quick teller application

 

If your transaction is going well, bank will then come to your business centre to ascertain whether you truly have a shop or not.

 

Note 2: your shop must be at least 100meters from any other shop that has the same PoS machine of the same bank.

After a few weeks of application, you will be contacted that your PoS is ready for collection.

 

Procedure for collection of PoS through Merchant

• Contact any PoS merchant you know. If you do not know any, you can read more list of PoS merchant we have in Nigeria.
  
• You will be asked to complete the PoS application form
• After successful filling of the application, you will pay a sum of #25,000 depending on the merchant. Some may ask you to pay below or above that amount.
• After having paid, they will come to your business centre to verify your location.
• If your application is successful, you will be contacted to come for the collection.

Note1: you have to make transactions of at least #100,000 everyday through merchant PoS to make your account stay active all the time.

Failure to do so can make your account to be blocked after several warnings from the merchant.

Note2: There is no transaction limit for that of bank

Note3: I will advise you to look at the charges of different banks and also those of the merchants before requesting for their forms because they charge different charges.

 

How to Make Money through This

After you have been given the PoS machine either through bank or merchant, showcase your banner at your business location, this will tell people about your product.

When they patronise you and you help them send, withdraw money or pay bills, you charge them based on the amount they transact with you. 

Some agents charge #50 while some charge #100 on #1000 based on personality and how congested the place is.

It's so simple isn't it?

 

Which other way do you think people can make money through PoS business?

Tell us by commenting below.