Are you considering getting a POS terminal for your business in Nigeria? With the increasing adoption of cashless payments, understanding POS systems is crucial for every business owner. Let’s break down everything you need to know about POS terminals and how to get started.
What is a POS Terminal?
A POS (Point of Sale) terminal is an electronic device that enables businesses to process card payments securely. Think of it as your digital cashier – it reads debit or credit cards, processes payments, and provides transaction receipts. Modern POS terminals are more than just payment devices; they’ve evolved into comprehensive business tools that can help track sales, manage inventory, and generate reports.
What’s the Difference Between a POS Machine and a POS Terminal?
While these terms are often used interchangeably in Nigeria, there’s a subtle difference:
- A POS machine typically refers to the basic hardware that processes card payment
- A POS terminal is a more comprehensive system that includes hardware and software business management capabilities.
Think of it this way: if a POS machine is like a calculator, a POS terminal is like a smartphone – it does much more than just its primary function.
How Much Does a POS Terminal Cost in Nigeria?
The cost of acquiring a POS terminal in Nigeria varies based on several factors:
Hardware Costs:
- Basic POS machines: ₦60,000 – ₦150,000
- Advanced POS terminals: ₦150,000 – ₦400,000
Additional Costs to Consider:
- Registration fees
- Monthly maintenance fees
- Transaction charges
- Internet connectivity
However, with modern solutions like Veedez, you can significantly reduce these costs while getting more features for your business.
How to Apply for a Veedez POS in 2024
Getting started with Veedez POS is straightforward and affordable. Here’s the process:
1. First, download the Veedez app.
2. Next, sign up on the app
3. Complete your KYC with your business details, Valid ID, Proof of address and Bank account information.
4. Then, request for a POS machine on the app.
Required Documents:
- Valid government-issued ID (National ID, Driver’s License, or International Passport)
- Proof of business registration (CAC and TIN)
- Recent utility bill
- Bank account details
Why Choose Veedez POS?
1. Affordable Pricing
Our POS terminals come at competitive rates with flexible payment options for Nigerian businesses. We also have
2. All-in-One Solution:
Beyond payments, you get:
- Inventory management
- Sales tracking
- Customer management
- Business analytics.
3. Reliable Support
- 24/7 customer service
- Technical support
- Regular system updates
4. Enhanced Security
- End-to-end encryption
- Fraud protection
- Secure transaction processing
Ready to modernize your business with a POS terminal? Veedez offers the perfect solution for Nigerian entrepreneurs looking to grow their businesses. Our POS terminals combine payment processing with comprehensive business management tools, all at an affordable price. Even better, you can negate
Click here for more info, or download the Veedez app today to apply for your POS terminal. Join thousands of Nigerian businesses already using Veedez for payment and business management needs.