15 Best POS Machines With Lowest Charges in Nigeria. (Cheap and Reliable.)

Are you looking for the Best POS Machines With Lowest Charges in Nigeria?

In Nigeria today with the rise of cashless transactions POS machines have become an essential tool for many merchants.

When POS machines made their entry into the Nigerian market they were given for free.

Now, because of their high demand, POS machines come with too many requirements.

I’ve been a businesswoman in Nigeria for 5 years.

From my vast business knowledge, I’ve compiled this list of the best POS machines with low charges in Nigeria.

I will discuss the cost of each machine as well as the cost of their transactions.

By the end of this article, you will have a clear understanding of the cost of each machine.

You will also know the cost of deposits, withdrawals, and transfers on each machine.

So, if you’re looking for a POS machine that will serve your business without breaking the bank, you’ll find what you need here.

Before we dive in let’s answer some questions.

Are Cheap POS machines reliable?

Yes, cheap POS machines are reliable.

For a low cost, you can get a POS machine that has great customer support, accepts all cards, and charges very little.

The cost of a POS machine usually depends on 2 things;

The company that owns the machine, and
The type of POS machine you get.

POS machines from banks are free, but they take a lot of time and process to acquire.

If you want to save time, it’s better to seek machines from fintech companies like Moniepoint, flutter wave, and Paga.

Types of POS Machines

There are three types of POS machines in the Nigerian market.

The mini POS machine. This is the smallest version of the POS machine.

MINI POS machines are compact and fit right in the hand. But, they don’t print receipts.

You also need to support them with a phone to function properly.

This can be an inconvenience for customers who demand receipts as proof of successful transactions.

Traditional POS machines are the more popular ones.

While they don’t have the best look, they’re usually very easy to use which makes it the right choice if you’re new to POS businesses in Nigeria.

Android POS machines.

These versions of POS machines are flat and sleek. They usually spot a touchscreen.

They’re smooth, have great network service, look great, and are easy to navigate.

The downside with the Android POS machines is that they cost way higher than the MiniPOS and Traditional POS.

But if you have money to spare, this is a great choice.

The Average POS Machine Price in Nigeria

Android POS machines go from N45,000 to N60,000. Anything higher than this is expensive.

The average cost of a Traditional POS machine is N30,000. Anything higher than this is expensive.

MiniPOS machines cost below N10,000

If you decide to get your POS machine through third-party companies like OPay, and Moniepoint, which I recommend you do, then it’s good you know the average POS machine price in Nigeria.

Going directly through the company costs lower than buying through online stores like Jiji, Jumia, Flutterwave, Konga, etc.

While buying from online stores is expensive, it is the easiest way to acquire a POS machine.

There will be no requirements to meet. If you decide to buy your POS machine through this route, keep your eyes open.

One great benefit of buying through a store is that you’ll only be required to pay a one-time fee that will make you the owner of the machine.

But getting your machine from the official websites of the company will require you to pay a cautionary fee.

This cautionary does not mean you have BOUGHT the machine.

You can return the machine in good working condition, and get your money back.

From this information above and through rigorous research here are the best POS machines with the lowest charges in Nigeria.

15 Best POS Machines With Lowest Charges in Nigeria

1. Bankly POS Machine

Bankly has one POS machine that cost N15000.

You’ll be refunded N10,000 if the machine is returned in good condition within a year.

Bankly POS charges.

Bankly charges 0.3% on POS withdrawals and
N35 for all transfers.
N3 for every N1000
N20 for every deposit.

2. Opay POS Machine.

Opay ranks as one of the most popular POS machines in the country.

They offer three types of POS machines which makes it great. You can acquire one with any budget.

Opay Android is N60,000
Opay Traditional is N45,000
Opay mini is N10,000

Half of the money you pay for any POS machine is a cautionary fee. You’ll get it back if you no longer want the machine within a year.

You have to keep the machine in good working order to get your money back.

Opay POS charges

Transaction charges are as low as 0.5%.
This is N5 for every N1000.
They charge 0.6% when you’re a beginner.
A flat N120 for every transaction above N20,000 NGN.

Also read: How To Apply for OPay POS Machine in Nigeria

3. Kudi/Nomba

Kudi or Nomba has only one POS machine that cost N20,000 to acquire. This is not a cautionary fee. Once you pay the N20,000 the POS machine becomes yours.

Kudi POS charges

Kudi charges waver between 0.6% to 0.5% on withdrawals.
You get charged N5 for every N1000 withdrawal.
N20 flat for deposits.
N25 for transactions below N5000
N110 for transactions above N200k
N150 for transactions above N500,000.

4. Kolomoni POS machine

Pay an onboarding fee of N15,000 and acquire a Kolomoni MPOS terminal.

Get your money back if you return the machine in good working condition within a year.

Kolomoni POS charges.

0.55% for withdrawals of N20,000 and above.
They charge their agents N8.25 for transfers less than N5,000
N21.25 for transfers from N5001 to N50,000.
N37.50 for any amount above N50,000.

5. Dataway POS Machine

Dataway has two types of POS machines. The Machines are given free of charge if you meet their requirements.

They charge only a caution fee of N10,000. Return the machine in good working condition within a year and get your money back.

Dataway POS charges

0.5% on withdrawals of N20,000 or below.
N100 fee on withdrawals above N20,000.
O.5% for transfers of N1000 to N19,999
N100 for all deposits

6. Moniepoint POS Machine

Moniepoint has one machine that costs N21500 to acquire.

You’ll get a moneyback of N10,000 if you decide to return the machine within a year.

Moniepoint POS charges

0.5% on withdrawals of N20,000 or below.
N100 flat fee on withdrawals above N20,000.
O.5% for transfers of N1000 to N19,999
N100 for all deposits

7. Palm Pay POS machine

Palmpay offers two types of machines. This makes it super convenient for any budget you have.

The Traditional machine costs N20,000
The Android version costs N30,000

You’ll get a moneyback if you return the machine in good working condition within 15 days.

You can also buy the machine for

Traditional N40,000, and
Android N60,000, if you prefer to own the machine outright.

Palmpay POS Machine Charges.

0.4%-0.5% for every withdrawal.
This means N5 for every N1000 you transact.
N10 for bank transfer of any amount.
Utility bill payments are for free, you have the liberty to charge your customers anything you want.

8. Baxi

Baxi has two POS machines. This is great as you’ll find something that meets your budget.

The Baxi Android costs: N30,000NGN, and
The smaller version, Baxi MPOS costs: N10,000

Baxi POS charges

All cash transactions below N20,000 go for 0.55%. This is N5.5 for every N1000.
N100 for all transactions above N20,000
N30 for deposits.
Utility bill payments and data subscriptions start from as low as N0.8% to as high as N20%

9. Dataway POS Machine

Dataway has two types of POS machines. The Machines are given free of charge if you meet their requirements.

They charge only a caution fee of N10,000. Return the machine in good working condition within a year and get your money back.

Dataway POS charges

0.5% on withdrawals of N20,000 or below.
N100 fee on withdrawals above N20,000.
O.5% for transfers of N1000 to N19,999
N100 for all deposits

10. Paga

It costs N30,000 to get a Paga POS machine.

This is a cautionary fee to make sure the POS machine is safe with you.

It does not mean you have BOUGHT the machine. You can return the POS machine in good form and get your money back.

Paga POS charges

For withdrawals of N1 – N20,000 Paga charges only 0.55% of the transaction amount. This is N5.5 for every N1000
You’ll get charged a N100 for transactions of N20,000 – N100,000
Transactions above N100,000 is N150
N30 on every deposit.
You’ll get commissions for Data top-ups and utility bill payments from as low as 0.5% to as high as 2.8%.

11. Payforce

Payforce charges a fee of N20,000 for their one POS machine.

You get a cashback if you return the machine in good working condition within a year.

Payforce POS charges

0.5% for every transaction below N20,000.
N100 for transactions above N20,000
N25 for every transfer.
Earn commission from 2.8% to N60 for subscribing to DSTV

12. Flutterwave

Flutterwave has two types of POS machines.

The Android POS machine and the
Mobile POS.

The Mobile POS machines are FREE, while the Android costs N10,000 to acquire.

They offer no money-back guarantee but the machine can be taken from you if you breach the terms of the agreement.

Flutterwave POS charges

0.6% on every withdrawal.
N6 for every N1000.
N20 for every deposit.
N20 for transfer.

13. Quickteller POS Machine

Quickteller has one POS machine and this machine costs N85000. You can acquire this machine by visiting their official website.

While this fee may seem higher than others, the machine becomes yours when you make payment.

Quickteller POS charges.

Quickteller charges N152.5 for every withdrawal. You get N50 from this transaction.
They charge N100 for the transfer of N100 – N10,000. You get N50 for this transaction.
Quickteller also charges N150 for transfers of N10,000 and above. You get N75 for this transaction.

14. Surepadi

You will have to pay a cautionary fee of N15000 to get the Surepadi or Polaris POS machine.

This fee does not mean you have bought the machine. The machine can be taken from you if you breach the terms of the agreement.

Surepadi POS charges

Cash withdrawals: 0.75%
You will be charged N75 for every N1000.
Deposits between Polaris bank accounts: 0.5%
Fund transfers: N40 flat rate.
Bill payments: N100

15. Access Closa POS machine

The access POS machine is free of charge but you will need an active Access bank account, along with N50,000 starting capital.

Your POS account will be funded with this N50,000 so that you can start transacting ASAP.

Access Closa POS charges

Transactions between N1 and N5,000: N100
Transactions between N5,001 and N10,000: N200
Transactions between N10,001 and N15,000: N300
Transactions between N15,001 and N20,000: N400

16. Zenith POS machine

The Zenith POS machine is free of charge. But you will need to have an active Zenith account and a starting capital of N50,000.

Your POS account will be funded with this money for you to start doing business.

Zenith bank has the liberty to seize the POS machine if you breach the terms of the agreement.

Zenith Bank POS charges

N50 to N300 for deposits or withdrawals within N100,000
N100 for transactions above N100,000

Now, these are the 15 best POS machines with the lowest charges in Nigeria.

FAQS

Where can I buy cheap POS machines?

There are two places where you can get cheap POS machines in Nigeria.

You can buy it directly from the company that owns the POS machine.
You can buy it from online vendors.

Acquiring the POS machine from the official company is usually the best way to get a POS machine.

But if you would rather avoid the requirements, then buying from an online store is your best bet.

If you choose to buy from the official website all you have to do is call their official number or reach them on social media.

If you wish to avoid going through this long process, then buy from an online store like Jiji or Jumia.

How much is the POS machine on Jumia?

POS machines on Jumia go from as low as N20,000 to as high as N100,000. This is an average.

The real price of a POS machine depends on the type of machine you want, the company you want, and the vendor you are buying from.

Jumia is a large e-commerce store and there is hardly anything you cannot find there.

If you visit Jumia and think the machines you have found are too expensive, keep looking. You will find cheaper options.

How much is the POS machine on Jiji?

POS machines on Jiji go from as low as N20,000 to as high as N100,000. This is an average.

The real price of a POS machine depends on the type of machine you want, the company you want, and the vendor you are buying from.

Jiji is a large e-commerce store and there is hardly anything you cannot find there. If you visit Jiji and think that the machines you found are too expensive, keep looking.

You will find cheaper options.

How much are POS fees in Nigeria?

POS fees in Nigeria go from as low as N7000 to as high as N60,000. This is the cautionary fee you have to pay a company before you can acquire their machine.

This cautionary fee does not imply that you have bought this machine. Return the machine in good working condition within a year and get your money back.

Opay POS fees are N7000 for the MINI POS

While Their Android POS goes for N60,000

Which POS has the Cheapest Charges in Nigeria?

Bankly is the machine with the cheapest POS charges in Nigeria as of today.

Bankly charges 0.3% on POS withdrawals and a flat rate of N35 on all transfers.
N3 for every N1000
A flat N20 for every deposit.

That’s a wrap…

POS machines are essential for cashless transactions and contactless payments in Nigeria.

However, many businesses find them unaffordable due to high charges and requirements.

In this article, I have provided a list of the best POS machines with lowest charges in Nigeria, including Opay, Bankly, and Kolomoni.

Cheap POS machines are reliable, and the cost of a machine depends on the type and company that owns it.

So, don’t hesitate to make a choice. You can also check out this list of the Best POS machines in Nigeria if you are still undecided.

More articles on POS Machines in Nigeria