Business & Markets

Moniepoint POS Review – How to Become an Agent

Moniepoint POS Review – How to Become an Agent

Moniepoint POS provides a transaction channel platform that gives you access to multiple transactions on the go. Basically, this includes mobile apps, POS, and SmartPOS, profiting both customers and Moniepoint agents. Today, POS business is one of the easiest to start up, as it can be done with little or no capital, and it is also one of the most profitable. Among the top-tier, POS service providers are Moniepoint POS, as it provides one of the best services for on-the-go transactions today.

About Moniepoint POS

Moniepoint is one of the fastest-growing and most reliable mobile money platforms in Nigeria today. Basically, with Moniepoint, you can carry out financial transactions like transfers, withdrawals, airtime purchases, and more at a profit. Also, the company boasts of one of the best networks in town, therefore, the issue of “no network”, common with many POS centers would be far from your business.

The banking arm of TeamApt, founded by Tosin Eniolorunda, is designed to be an all-in-one business solution that provides last-mile banking service delivery. This is in line with their goal to power the business dreams of the African economy and promote financial inclusion.

In this article, we are going to be discussing how you can become a Moniepoint POS agent, as many find this difficult. Also, we would cover the applicable commissions that follow being an agent and other information you should know.

How to Become a Moniepoint Agent

Basically, the easiest way to obtain a Moniepoint POS machine is by contacting their closest office to you. Upon getting to the office, an agent would guide you through the registration process and the necessary steps to successfully apply. In addition, keep in mind that the machine costs about N25,000, which is cheaper than POS machines from other service providers. Also, note that you should only apply for Moniepoint POS machines in an approved center. You can also read more on how to get a POS machine for your business.

To become a Moniepoint POS agent, you need to follow the processes below:

  1. Visit their official website at
  2. Fill out the registration form for Moniepoint agents and submit
  3. Confirm your email address and phone number and an agent would reach out to you after 48 hours of registration
  4. The agent would guide you on what you need to do, after which they would confirm you as an agent
  5. Lastly, log in to the Moniepoint POS dashboard to manage your account

What documents do I need to become a Moniepoint POS agent?

During the registration process to becoming an agent, they require you to supply the following:

  • A certified business license
  • Your bank verification number (BVN)
  • House PHCN bill
  • Your bank account number
  • Identity card, which could either be a National ID, Voters car, or any other nationally accepted card

How to Apply for a Moniepoint POS

Follow the steps below to apply for a Moniepoint POS:

  • Visit the official Moniepoint POS webpage
  • Proceed to create a business account by signing up and providing all the requested information
  • In your account, navigate to request a POS machine. Click on the Add a new POS button and follow the instructions.
  • Fund your account and pay for the machine (it costs N21,500)
  • Your POS will be delivered to you within 48 hours.

How do I log in to Moniepoint POS?

Basically, after registration, follow the process below to login into your Moniepoint POS dashboard:

  • Download the Moniepoint application from the google play store
  • Login to your account on the Moniepoint application
  • To log in through your phone browser on their official website
  • From there on, you can carry out hitch-free transactions as an agent

What are the Moniepoint POS Charges?

Compared to other facilitators, Moniepoint’s POS charges are really low, and arguably the cheapest. Basically, the charges are based on the number of transactions you carry out and not depend on the bank unlike other POS services do. This fixed charge stands at N20 for all banks in Nigeria.

Also, the charge for withdrawing up to N4,000 is simply N6.2, although it increases as the amount withdrawn increases. Basically, aside from these, Moniepoint does not charge any extra bank fees, unlike many other POS service providers.

Here is an overall breakdown of the charges:

  • Moniepoint POS charges 0.5% of the transaction amount for withdrawals between N1 to N20,000
  • They charge a flat rate of N100 for transactions above N20,000
  • Moniepoint POS charges a flat rate of N20 for transfers

For data charges, on the other hand, Moniepoint POS offers the following:

  • MTN 3% commission
  • Glo 4% commission
  • DSTv 2% commission
  • GOTv 2% commission
  • PHCN 2% commission
  • 9Mobile 4.5% commission
  • Airtel 4% commission
  • 5. For TV Subscription
  • Star Times 2% commission

Moniepoint Mobile application

Moniepoint POS Review – How to Become an Agent

Moniepoint exists to make financial transactions as easy as possible. However, you can also make payments through your Moniepoint account using the mobile app’s POS terminal. With the app, transfers, withdrawals, and more are so much easier, and if there’s a problem you can easily file a complaint through the app too. The Moniepoint team would contact the bank involved to reverse the funds to make things so much easier.

How to solve Moniepoint transaction limits

Moniepoint set a transaction limit for those who haven’t upgraded to a business level. Basically, at some point, you might encounter an error stating “the transaction exceeds the daily transaction limit”, because you have hit the maximum you can transfer for the default level (KYC level 1).

Therefore, at that point, all you need to do is upgrade your KYC level to a business and they would remove the limit. Follow the process below to upgrade to the KYC business level:

  • Login to your Moniepoint account and navigate to the KYC level
  • Scroll to your dashboard, click menu, and select settings
  • Select upgrade from the menu that drops down and that is all

Also, you can contact the team if you’re finding any trouble upgrading.

What are the applicable rules to Moniepoint POS usage?

Moniepoint POS has the following rules:

  • A minimum of N80,000 withdrawal value daily
  • You need a least 4 counts of deposits per day
  • You stand to receive 50% cashback of the N20,000 you paid during registration if any cause develops that causes an aggregator to withdraw your Moniepoint POS device within a year of issuance.

How can I contact Moniepoint POS?

You can contact the company through any of the following means:

Office Address: 2 Wole Ariyo St, Lekki Phase 1, Lagos, Nigeria.

Phone: +234 814 150 0017 (Whatsapp only)

Email: [email protected]




Bottom line

Moniepoint remains one of the favourite choices for POS businesses all over Nigeria. Basically, this is down to their overall good network coverage, as well as favourable fees. After registration, you can start enjoying the benefits of an agent right away.


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