Moniepoint POS Daily target is #80,000 while Monthly target is around #400,000 to #600,000. If an agent fails to meet this target at least three times, MoniePoint reserves the right to retrieve the POS terminal and reassign it or restrict it.
As a business owner or individual who wishes to use POS as a means of payment, you will surely want to know a few details about POS before deciding on which to go for. If you’re in this space, read on, as I’ll help you understand what you need to know about Moniepoint POS’s daily and monthly targets.
I have also highlighted the steps to get the POS and tips to help you achieve the daily and monthly targets. According to Moniepoint’s Official website, its POS is used by over one million businesses nationwide.
Moniepoint POS is a portable electronic device that facilitates secure and convenient digital transactions, aiming to enhance financial inclusion for people who don’t have access to traditional banking services.
This is to tell you that Moniepoint POS is one of the best in Nigeria today; no wonder you’ll always find it anywhere you go in Nigeria. Once you have a Moniepoint POS, you can offer cash withdrawals, bill payments, deposits, fund transfers, and mobile airtime top-ups.
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Having understood what Moniepoint POS is all about, let’s now get to the daily and monthly targets.
What is MoniePoint POS Daily Target
MoniePoint sets a daily transaction target for its agents. As of today, the daily target is ₦80,000 worth of transactions. If an agent fails to meet this target at least three times, MoniePoint reserves the right to retrieve the POS terminal.
This means if your POS fails to hit the #80,000 worth of transactions daily, it is considered underperforming and could be reassigned to someone else. To understand this better, the Daily Target refers to the minimum amount of transactions, set at N80,000, that a Moniepoint POS user must achieve each day to continue using the POS machine.
MoniePoint Monthly Target
MoniePoint also monitors overall performance every month. Although specific details about the monthly target are not explicitly mentioned by MoniePoint, any business owner should aim to make a minimum monthly transaction of around 400,000 to 600,000.
This is why business owners must maintain consistency in transactions throughout the month for successful POS operations.
What Happens If You Fail To Meet Moniepoint POS Daily Target and Monthly Targett?
According to Moniepoint, it cares about your business growth. So, business owners are encouraged to transact a minimum of N80,000 daily. If your POS can’t hit this target, then it has failed to deliver, and you risk it being restricted or reassigned.
Once a terminal is restricted, it can’t perform the following transactions:
- Account balance check
- Statement of account
- Bill payment
- Transfer
- Airtime purchase
- POS transfer (reject)
- Monnify collections
- Card transfers
Moniepoint POS leases its terminals to agents, and if an agent doesn’t meet the daily target, it may face restrictions. The daily target for Moniepoint POS is ₦80,000. If an agent’s POS can’t reach this target, it’s considered underperforming and may be restricted or reassigned.
If, by any means, the POS is retrieved from you, you will be paid ₦10,000 as a form of refund for the POS.
How to Resolve Restriction Issues on Moniepoint POS
If you couldn’t meet up with the Moniepoint POS daily target and your POS got restricted, you can place a call to their customer service by dialing this number +23418889990 or send an email to support@moniepoint.com.
You can also contact Moniepoint through it website or visit any of their physical offices at different locations in Nigeria from 8am to 5pm, every Monday to Friday.
- Oyo Office – Oyo-Ibadan Road, Idi-Agba, Ilora, Ibadan, Oyo State
- Lagos Office – 86 Allen Avenue, Ikeja, Lagos
- Lagos Office – Blossom J Mall, Km 37 Lekki Epe Exp. Ibeju Lekki, Lagos
- Abia Office – 3rd-floor slot building, 1 Ohafia Street, Aba, Abia State
- Abuja Office – 22, Ajase Street, Wuse 2, Abuja Municipal Area Council, Abuja
- Adamawa Office – Mubi Road Beside First Bank Jimeta, Yola, Adamawa State
- Akwa Ibom Office – 2, Ikot Ekpene Road, Uyo, Akwa Ibom State
- Bauchi Office – 5 Banks Rd, 740222, Bauchi State
- Bayelsa Office – 31 Imbi Road Amarata Yenagoa, Bayelsa State
- Benue Office – 73, Iorcha Ayu Road, Wurukum, Makurdi, Benue State
- Calabar Office – 25/27 Murtala Muhammad Highway, Calabar Municipal, Cross River State
- Warri Office – 255 Warri-Patani Road, Delta State
- Benin Office – 53 Mission Rd, Use 300102, Benin City, Edo State
- Ado-Ekiti Office – Ago Plaza, Along Oba Aldesannmi way, Ajilosun, Ado-Ekiti, Ekiti state
- Enugu Office – 2B O’Connor St, Achara 400102, Enugu State
- Gombe Office – Adamu Fura House, Adjacent Ecobank, Bui Road, Gombe State
- Owerri Office – 27 Kagha Street, Owerri, Imo State
- Jigawa Office – Hadejia LG Maje Road, Nguru Road, Jigawa State
- Kaduna Office – 16 Muhammadu Buhari Way, adjacent to Bank of Industry, City Centre 802125, Kaduna State
- Kano Office – 29 Sokoto RdNassarawa 700213, Kano State
- Katsina Office – Kurfi House No.193 2nd Floor. IBB Way, Katsina State
- Lokoja Office – Obason Plaza, opposite Idrinana Hotel phase 2 Lokoja Kogi State
- Ilorin Office – 14, Station Road GRA, Ilorin, Kwara State
- Lafia Office – Beside presidential lodge off Shendam Road, Lafia Nassarawa state
- Niger Office – Turke house, before FRSC, Niger State
- Abeokuta Office – Moyo House, Beside Ibara Police station, Omida, Abeokuta, Ogun State
- Akure Office – 40 Suit A,2nd Floor, beside First Baptist Church, Oba-Adesida Road, Akure
- Osogbo Office – 53, Station Road, Ola Adura Plastic Building, Osogbo, Osun State
- Ibadan Office – 42, Keneth Dike way, Secretariat Road, OGC building, Favos junction, Bodija Ibadan, Oyo State
- Jos Office – 5 Bauchi Road, Jos, Plateau State
- Port Harcourt Office – Oklen Suites, 1 Evo Road, GRA Phase 2, Port Harcourt
- Sokoto Office – Beside Fire Service Station Arkilla Lowcost, Sokoto State
- Jalingo Office – 2nd Floor Hanny’s opposite Jalingo main motor park along Jalingo-Yola road, Taraba State
- Gusau Office – Trust fund house by UBA Kantin Daji, Gusau Zamfara State
I recommend that while going to any of the physical offices to rectify your POS issue, go with your business documents too; this includes
- Valid identification documents (e.g., passport or national ID)
- Proof of address (bank statement / Utility Bill)
- Business registration documents (for registered businesses) and every other relevant document.
These documents prove your authenticity and could speed up the rectification process. These methods can also be applied to any other reason for restrictions.
Having known about Moniepoint POS daily target, if you don’t have one you’re using, see the steps below to get a Moniepoint POS machine for your business.
How to Get a Moniepoint POS Machine
If you’re interested in becoming a MoniePoint agent and obtaining a POS machine, you must first get all the requirements for POS registration. Some of the requirements include:
- Details about your business type, location, and necessary documentation.
- Valid identification document (e.g., passport or national ID)
- Proof of address (Bank statement / Utility Bill)
- Business registration documents (for registered businesses)
Once you’ve gotten all the requirements, you can now follow the steps below to get your Moniepoint POS:
Step 1: Download the MoniePoint app from either the Google Play Store or the Apple App Store.
After installation, sign up for a business account. In this process, you’ll have to choose the business you want a POS for. You can also sign up via their web page.
Step 2: Once you’re done with the signup process, you’ll now have a business dashboard. Click the POS menu under “Channels” and then click on Request New POS.
Step 3: Click on the MP35P to proceed to the next step. Type in the address where you want your Moniepoint POS delivered.
*MP35P is a smart POS terminal with a touch screen. The Moniepoint terminal costs N21,500. N10,000 for caution fee, N10,000 for logistics fee, and N1500 is the insurance fee for a whole year.*
Step 4: After typing in your address, fund your Business Account with at least ₦21,500 for the POS Terminal.
Step 5: Complete the New POS request by making payment after funding your account. You will be assigned a dedicated Relationship Manager from Moniepoint. Click “Select RM” to learn more about them. The Relationship Manager will deliver the POS to your address within 48 hours, register it, and train you on how to use it. If you have any questions, you can ask the relationship manager for answers.
You can also contact Moniepoint via support@moniepoint.com.
How much is MoniePoint POS?
As of 2024, you can acquire a MoniePoint POS machine directly from the company for N21,500.
However, understand that the prices may vary if you’re getting it from an agent near you. Also, your location can as well affect the price.
Moniepoint POS Charges and Commission Structure
- For withdrawals between N1 and N20,000, Moniepoint charges a fixed fee of 0.5% of the transaction amount
- For transactions above N20,000, Moniepoint charges a flat rate of N100
- For Transfers, They charge a flat rate of N20
- You’ll get a cashback of up to #5 on transfers and up to #20 on withdrawals.
- Moniepoint charges 2% for airtime purchases for all networks.
- There are no charges on bill payments.
Tips To Meet Up With Moniepoint POS Daily and Monthly Target
To meet the Moniepoint POS daily target of N80,000, here are a few tips to scale up your business and meet the daily and monthly target on your Moniepoint POS.
- Consider locating your POS business strategically. Look for an area where the need for POS is high; you’ll make sales in these places.
- Offer competitive pricing, give discounts to returning customers, and provide exceptional customer service.
- Conducting community-based marketing to attract more customers.
- Expand your services to include bill payments, airtime sales, data purchases, and other features available on your POS.
These steps help increase your daily transactions, ensuring you meet or exceed the required daily target and maintain the use of the Moniepoint terminal.
FAQS on Moniepoint POS
1. What features does the Moniepoint POS Machine offer?
Moniepoint POS machines feature a 7-inch LCD, Android OS, 4G LTE, WiFi, Bluetooth connectivity, biometric fingerprint authentication, QR code scanning, and a receipt printer, making them suitable for various transactions.
2. How do I fund my Moniepoint wallet?
To fund your Moniepoint wallet, log into your account, navigate to the Wallet section, tap on Fund Wallet, and follow the instructions for making a transfer to the specified account.
3. What happens if I encounter a problem with my Moniepoint POS Device?
If you encounter any issues, Moniepoint provides prompt settlements and dispute resolutions, often within the same day. They also offer technical support through assigned engineers (Relationship Managers).
You can likewise contact them directly vis this number: +23418889990. If you have issues within the Moniepoint POS daily target too, you can ask for help by calling the same number.
4. How can I solve transaction limit issues with Moniepoint?
If you hit a transaction limit, you may need to upgrade your KYC level. Log in to your Moniepoint account, find the KYC level option under settings, and select “Upgrade” to increase your transaction limit.
5. Are there any monthly fees or subscription costs associated with Moniepoint POS?
Moniepoint charges are primarily transaction-based. There are no monthly fees or subscription costs. The main costs to agents are tied to transaction charges and the initial setup cost for the POS machine.
6. How do I contact Moniepoint Customer Support?
Moniepoint customer support can be reached through their official contact number;+23418889990, email at support@moniepoint.com, or through the help section in the Moniepoint app.
Conclusion
Meeting the daily and monthly targets set by Moniepoint POS is not just about hitting numbers; it’s about ensuring the continued success and profitability of your business.
By striving to meet or exceed the daily transaction goal of N80,000, you can unlock the full potential of their POS services, leveraging convenience and efficiency to serve their customers better.
Now that you know what Moniepoint POS daily target is all about, you can make the best decisions on how to scale up your business and hit the target. If you have any issues concerning your Moniepoint POS, feel free to contact their customer service.
Thanks for reading and don’t forget to share with friends.
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The recommended daily transaction target of ₦80,000 is a strategic move. It helps regular usage of the POS, which benefits both Moniepoint and business owners. It’s like a gentle nudge to keep the wheels turning efficiently. The monthly target range of ₦400,000 to ₦600,000 reflects a realistic approach. It understands the ebb and flow of business cycles. Striving for this range ensures steady growth without undue pressure.