7 Steps on how to start up POS business in Nigeria

Starting a POS (Point of Sale) business in Nigeria can be a lucrative and rewarding venture. Here are some steps you can take to start up a POS business in Nigeria:

1. Research the market: Conduct market research to determine the demand for POS services in your area. This will help you determine the viability of your business idea and develop a strategy to differentiate your business from competitors.

2. Obtain necessary licenses and permits: Register your business with the Corporate Affairs Commission (CAC) and obtain necessary licenses and permits from the Central Bank of Nigeria (CBN) and other regulatory bodies. However, this is not compulsory, but having a registered business name is very good. 

3. Secure a location: Find a suitable location for your POS business, preferably in a high-traffic area such as a shopping mall, market or busy street. Probably, you can go to a place where there's less competition of other POS dealers. 

4. Purchase equipment: Purchase POS machines and other necessary equipment such as printers, scanners, and internet connectivity. You can buy the equipment from reputable dealers or online stores. Understand that most of the POS companies are offering their machines free. 

5. Partner with banks and other financial institutions: Partner with banks and other financial institutions to offer cash deposit, withdrawal and transfer services. This will enable your customers to easily transact business without the need to visit a bank. I understand that in Nigeria today both digital banks such as Opay, Moniepoint, and traditional banks like GTB, Access Bank are into POS business

6. Hire staff: Hire reliable and trustworthy staff who have a good knowledge of how POS machines work, and can handle transactions and customer inquiries effectively. Alternatively, you can manage it by yourself. 

7  Advertise your business: Promote your business through various marketing channels such as social media, flyers, posters, and word-of-mouth advertising.

Starting a POS business in Nigeria requires careful planning, hard work, and dedication. With the right approach, your POS business can become a successful venture in a short period of time.

Get Help:

If you want to know what it takes to open any company POS terminal in Nigeria just comment or ask questions. 




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