How to get a POS Terminal for your business in Nigeria


Last week, my sister and I decided to travel on the Bus Rapid Transport (BRT) system in Lagos. We joined the queue expecting to buy a ticket with cash, but a ticketing officer used a POS terminal to generate tickets for each of us. We had not realised that this had been the norm for a while.

A lot of small business owners find the use of POS terminals as a payment option preferable to cash. This option eliminates the problem of not having the exact change for customers during transactions, and it also minimises employee theft. The fact that the businesses do not pay for the deployment and maintenance of the terminals either is also a big plus. Not that long ago, a photo was posted on the internet of a small shop in with 6 or 7 POS terminals hanging on the wall.


Courtesy Voy/Nairaland

If you run a small business in Nigeria, you probably understand his/her logic.  From the lack of reliability from service providers to the lack of trustworthy staff, this method seems to be the ideal solution. My sister –  also a small business owner who runs a catering and event management company, sometimes has customers who want to pay immediately, by card. A POS terminal provides her with the option of accepting the exact agreed amount there an then without having to hunt for change, as well as providing her  customers with an instant payment notification. As she wanted to deploy a POS terminal at her business for the reasons highlighted above,  we did some research on our options in Nigeria and I will share my findings on where to get POS terminals in Nigeria, costs involved, and associated charges. But first, what is a POS terminal and is it safe for customers and businesses to use?


If I have already lost you, and you aren’t sure what I’m talking about, apologies. A POS (Point Of Sale) terminal is a portable device that allows businesses accept bank card payments for transactions.

Initially, this payment solution was introduced to the Nigerian business space by the Central Bank as a way of  reducing the volume of cash transactions, as well as managing the risks associated with handling cash. In addition, it also encouraged the spread of electronic payment systems across the board. The Central Bank of Nigeria  appointed the Nigeria Inter-Bank Settlement System (NIBTSS) Plc as the body to regulate the value chain in the following ways:

  • Protecting customers paying with their bank cards.
  • Protecting business owners from fraudulent “technical experts” who might install malware  to steal customers details. All terminals are maintained by the banks/issuing bodies.

So the NIBTSS is the Payment Terminal Service Aggregator (PTSA), and is the only approved entity by the Central Bank of Nigeria (CBN) dealing with POS terminals. As such, they approve the Payment Terminal Service Providers (PTSP) who then have the task of identifying prospective merchants and winning them over. Please don’t be all surprised when they come begging you to get one. The list of approved PTSPs can be obtained here.

Payment Elastics by Kurt Bauschardt, on Flickr

Payment Elastics by Kurt Bauschardt, on Flickr


During our research, we found that most POS terminals are issued by banks. If you are requesting a POS terminal from your bank, you will be directed to your account officer to obtain a form. However, some of these forms can equally be printed online. Here are the banks we contacted below:


My sister had any account with there, so it was easy to obtain detailed information. At Zenith bank, you will need to have held your current account for at least 6 months prior to your application.

The application form requests the full business name, the business owner account number, the business email address, phone numbers and other minor details, and  processing takes 72 hours. You could email the form to and also copy is also the contact e-mail address to note if you have any problems.

The business owner will then be required to sign a POS agreement document with the bank. Upon approval, the POS terminal is delivered in less than two weeks to the business address indicated on the form.


In Guaranty Trust Bank, only current account owners qualify to receive POS terminals. Account owners must have held their accounts also for at least six months, just like Zenith Bank. The form is then  emailed to or submitted to the account officer. The business owner is also required to sign the agreement form. See a detailed post here.


When we were tired of the research, we decided to put calls through. The customer care representative informed us that we could get the POS terminal even with a savings account as far as the relationship officer approved the request. Business owners also only need to fill the application form and the agreement, and then wait 14 days for a response.


  • Merchants do not purchase the POS terminal. However, there has to be a certain minimum activity to continue enjoying the service which includes routine free maintenance.
  • The terminals are serviced only through the banks.
  • There is a charge of 0.75% on successful transactions  which is deducted from completed transactions before being credited to your account.

The POS terminals discussed above have card processing capability. There are other functions of the terminal such as recharge card printing, utilities bills’ payments and other applications. The POS terminals used by the ticketing officers in the BRT couldn’t accept our debit cards, so  an application was installed to make it possible.

Also, it appears that most banks have limited POS terminals stock available, so they tend to heavily market other options.

For instance, at the bank whose logo is an orange square and a smaller white square, they delayed my sister and I as they were trying to market the ‘737’ alternative. 737 is a means where customers can pay by transferring money to the account of the business owner via their phone using the code and their debit card details.

In all, it was a wonderful learning experience. Most other banks we contacted had similar procedures in obtaining the POS terminal.

Caveat: This is not a sponsored post. The banks we contacted were random.


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  • Great article. Very useful to small business owners that need POS machines. Also interesting to note that the use of POS machines can afford you access to financing for your business through lenders like Flex Advance. Check them out here: and reach out if interested.

    Ada November 24, 2016 8:23 am
  • Hi Oyediran, thanks for the comment. Have you contacted your bank handling business transactions?

    Ethan Okoli March 26, 2017 10:43 am
  • Good morning. I live in Nigeria and I need a pos for my company. I may be needing up to 1000 or more. Please how can I get it. Because I don’t want to get from banks but will be link to my bank account letter. Please reply via the email

    odejoe April 9, 2017 8:38 am
    • Hi Joe, I know a company that can help you. I will e-mail you details shortly.

      Ethan Okoli April 14, 2017 1:17 pm
  • Hi can I get a p.o.s machine but not from the bank? Urgently neded

    Hassan April 24, 2017 3:08 pm
    • Hi Hassan,

      There’s a new independent company offering POS units through Accessbank. Can you please email to request a demo? Tell him you were referred by Mrpepe and he will know.

      Their office is based in Victoria Island and they can allow you test one and ask any questions you have before you buy. They can also put a support system in place for you so you have someone to go to if you ever have any issues.

      Ethan Okoli April 26, 2017 1:33 pm
  • Pls i need pos for my business how do I go about it . am living at Ajah Lagos 08168059016

    prince Umeoka April 24, 2017 11:06 pm
    • Hi Prince,

      There’s a new independent company offering POS units through Accessbank. Can you please email to request a demo? Tell him you were referred by Mrpepe and he will know.

      Their office is based in Victoria Island and they can allow you test one and ask any questions you have before you buy. They can also put a support system in place for you so you have someone to go to if you ever have any issues.

      Ethan Okoli April 26, 2017 1:34 pm
  • pls thanks for the information
    i have d POS frm UBA Bank but want the machine pls wat is the procedure and how can i get it. thanks

    Atagbo Daniel E May 12, 2017 7:17 am
  • For those interested in having the pos machine I worked with a firm that provides the pos machine to those into business.
    You can as well print recharge cards with wholesale price with. You pay for Arik flight ticket and many other services
    07035608229 or

    Henry May 14, 2017 11:17 am
  • how much is a POS sold?

    peter June 3, 2017 12:53 pm
  • Hello, I am Nigerian and I want to open a POS terminal. Like having a shop where in an area where queues are much, in that case help with POS in withdrawals and then charge every withdrawal. How do I go about it? Like how do I start? Thanks

    Abdul-Aziz June 8, 2017 5:37 pm
  • Pls I need a POS I leave in Lagos Nigeria. pls help me out

    LUCY June 19, 2017 5:24 pm
  • Pls I need POS I leave in Lagos NIgeria. Pls how do I go about it. Pls help me out

    LUCY June 19, 2017 5:27 pm
  • Abdu contact me 08101352465 that is my buiz, i wil teach u everytin needed and also direct u 2 a bank manager always issue it 2 me as easy as posible

    Chima Eta July 7, 2017 3:46 pm
  • I want to start the pos business after my Nysc service in 2 months Time… I need orientation pls. Am an Ekiti guy.

    Bamidele akinwale August 3, 2017 6:30 pm
  • Please is there another type of pos that remits the account instantly as my client was telling about the one she currently uses which remits her account 24hrs after transaction is done?


    Bayson August 7, 2017 5:44 am
    • Hi Bayson,

      I don’t know about a POS that remits within 24 hours as I think they need some time to ensure that none of the transactions are fraudulent. What company does your client use?

      Ethan August 10, 2017 12:21 am
  • I need a pos machine but not from the bank, i need it urgently because of the needfulness of it in were am living now, please how can i get it?

    Tumbo paul August 26, 2017 4:01 pm

    Since the CBN’s Cashless Policy took effect nationwide from 1st July 2014, the Nigeria’s mobile money industry is witnessing a boom as millions of Nigerians are forced to use electronic channels for financial transactions such as utility bill payments, funds transfer, issuance/funding of ATM cards. With this CBN certified POS terminal, you can earn N370,000 or every month, helping Nigerians carry out their daily transactions.

    The POS machine can be used for the following transactions/bill payments and earn you unlimited daily income – for life: LCC | HITV |Water |DSTV | GOTV | Startimes | PHCN/NEPA | Airtime Topup |Funds Transfers | Receive Payments | Sales/Funding of ATM Cards | Daily Contribution Business (isusu, adashe or Ajo)

    How to earn with the POS Machine:
    You charge N100 – N1,000 per transaction + you earn N43 per PHCN payment for transactions less than N8,000 or 0.54% flat for payments above N8,000.

    Airtime Vending:
    By default, the POS machine is provisioned to allow you vend/sell airtime (recharge cards) of all networks = MTN, Glo, Etisalat, Airtel, Visafone at 4% flat commission on every sale, so you can now provide additional value to your customers while making even more money, by ensuring your customers no longer go out to buy airtime. You can sell airtime of any amount between N100.00 and N300,000 at a go!

    Additionally, this business is sure enough to drive massive traffic to your existing business/office/shop that could see to increased sales of other products/service you offer.

    The POS comes with FREE ATM card with which you can fund from regular banks or through us and use same card for all transaction

    You make all payments on the POS using the provided ATM card and you can also buy more of the cards and resell to your regular customers, so they can be paying for their transactions using the cards and you can also load the cards for them with money and earn more commissions.

    Money in the cards can be cashed out from ATM machines and the cards can be used to shop online from,, other local websites + payment of air tickets on Arik Air, Aero Contractors and all other local airlines

    Henry September 13, 2017 4:23 pm
    • Hi Henry, this is not the best way to advertise your product. I’m happy to share this with my subscribers (free) as long as it adds value to them. Can you e-mail me ( if you want this?

      Ethan September 18, 2017 1:10 pm
  • Do you need pos for your business? Kindly contact me on this number I’ll direct you to a reliable ptsp 07036696595

    Isaiah October 16, 2017 7:53 am
  • Thanks Mr Etha. And thanks for those that has patronised us so far for pos terminal.
    If you are into serious business we are still ready to provide you with pos and link it to your account and also render regular services to your pos machine if it develops any fault.
    Call 07035608229

    Henry November 5, 2017 8:59 am
    • Henry, if your services are legitimate and you have a budget, we can verify you and include an ad for you within this post. Contact me:

      Ethan November 7, 2017 2:25 pm
  • i need pos in my shop what thing are should do i have first bank account.

    Olayemi Olaniyi Isaac November 6, 2017 10:15 am
  • I’m a student but I need pos because it’s very hard to make online transaction in my area. What should I do? I have Uba account.

    bosede December 7, 2017 12:37 am
  • pls i neeed a pos terminal for my business to be use for transaction i used fidelity account

    adeleke samuel aduragbemi December 16, 2017 1:27 pm
  • Thanks for the feedback, Bethel. I promise to bring you more and more useful information in 2018. Thanks for joining the winning team!

    Ethan January 2, 2018 12:46 pm
  • Pls I need a pos machine too. U can reach me on 08188460709

    Koko oluwafemi January 7, 2018 12:32 pm
  • Hi. I want to ask aboutPOS that work for online and offline transaction. For physical card and punching.

    Femi February 4, 2018 1:44 pm
  • I need pos urgently 08038830191

    AROTIBA adegboyega February 4, 2018 10:23 pm
  • Thanks Ethan for your guide. I need POS terminals for Cash out Business in Abuja and Neighboring States. I hope you could assist me on that as soon as possible. Thanks 08037675121

    Samson February 4, 2018 11:47 pm
  • i need three(3) POS for my offices in Delta… 07062912315

    Micheal March 6, 2018 2:12 pm
    • Hi Michael,

      One of the better companies that handles POS terminals for Nigerian banks is called Global Accelerex. I’ll send them your number, and someone will call you to discuss but ultimately, it will need to be linked to your business bank account.

      Ethan March 8, 2018 11:23 am
  • @ethan pls i alsn nid a pos terminal. Im a student nd i jst want to start a busines lyk d ones u mention. Dis is my no 07066723779

    Bammygold March 7, 2018 10:05 am
    • Hi there,

      You can get one through your bank. Ask your bank to give you a Global Accelerex one, because they are one of the fastest and they have something like 24 hours for an engineer to get to you if you call customer service.

      Ethan March 8, 2018 5:25 pm
  • I need a pos machine and I don’t want this bank own because of there deductions. Kindly enlight me.

    FASUYI BENARD March 14, 2018 9:11 pm
    • Hi Bernard,

      Everyone has to deduct money per transaction because they give you the POS terminal for free, and they carry out servicing free as well. The fees are for the terminal and maintenance so you can look at it as a “pay small small” option for owning a POS.

      I would recommend that you contact your bank and request a “Global Accelerex” terminal (they have one of the fastest processing in the market and they will come within 24 hours if you have any problems).

      Hope this explains it better.

      Ethan March 16, 2018 8:16 am
  • hello. I want to start a pos transactions business where people can come and make transactions including withdrawals. How can i get a machine to start off

    chinwe April 9, 2018 2:35 pm
  • This is Intrested, what’s is the running costs of using the POS, I just obtained one, and I was told CBN also charges apart from the one charge by the bank,
    pleas someone should educate us

    Adebowale April 12, 2018 10:13 am
  • Am in need of a POS machine, am located in a remote area where to get banking services is a bit far, and have registered with quickteller. Have been running the paypoint agent service, without the use of POS. Have spoken with one of their staff, and it’s going to cost (85k Naira) to get. I want othe option is available, are there company who can give it out for free. And i will like to know what the charges are. Please kindly contact me on 08052491204. Thanks

    Isaac April 12, 2018 10:56 am
  • I need a pos from global accerlerexx pls I need their phone number can anybody help

    Jeffrey May 3, 2018 11:47 am
  • Good one Mr ETHAN

    FOLA May 3, 2018 3:00 pm
  • Going by The CBN’s Financial Inclusion drive, which organisation is best to opt for -The Banks or the MMOs. I mean the one that is more effective & charges less. Pls help.

    Patrick May 17, 2018 3:44 pm
  • pls i need to start a pos terminal and will like to get the pos machine from Global Accerlerex. pls i need their contact urgently, but am using savings account. my number 08063145866 or email

    israel May 19, 2018 12:06 pm
    • Hi Israel, how many units are you interested in? If less than 5, the best bet will be to speak to your bank and specifically request a Global Accelerex terminal.

      Ethan May 25, 2018 1:02 pm
  • please I need from global accelerex, 5, how can I go about it please?

    Goodness June 13, 2018 10:14 am
  • please I want to start up a pos business and I need a pos terminal please help me out

    tolu-mighty June 18, 2018 1:54 pm
  • Hello my peoples I need pos for my office to do business am at MALETE KWARA STATE
    – business name :oju computer centre malete, kwara state
    Please I need it badly

    Phone number:08133909494

    Sodiq okunola July 8, 2018 4:57 pm
  • Helo Am Shane Frm Jos I Need A Pos Urgently But Not From My Bank Pls Help

    Ruth Benjamin July 24, 2018 2:48 pm
  • Hi I’m Alabi folorunso l need POS for money transaction. What do I need to know about it. And is there any changes or target that attached to it.

    Alabi folorunso August 4, 2018 12:31 pm
  • how can I get a pos terminal for business?

    zeyichibu August 6, 2018 11:12 am
  • Good day, kindly link me with a company that can provide pos machine for me. For i don’t want to get it through my bank but i will link it to my account.

    Toyin B. October 9, 2018 12:11 am
  • places i need POS for my business how can i get it places here is my number 08067453763

    jerry sunday October 11, 2018 9:49 pm
  • Pls I need mpos or pos to start cash in and cash out business… And I will make money from it…pls advice I need it urgently….

    Chinwe October 20, 2018 12:35 pm
  • It very good to get this information have approach my banks they kept telling me that if the bank should give me that I must make transition of up to 300,000 thousand naira daily I don’t understand pls help a small business woman

    foluke October 24, 2018 10:31 am
  • I need a POS how can I get it I live in osogbo,osun state. 08085082505

    Adeleke Isaac babatunde January 9, 2019 6:45 pm
  • I need a POS machine in Ibadan for my Gas refilling business and also intend in Operating an Agency Banking Service…
    contact me via
    or call +2349062215037

    Ismael Olalekan Tesleem May 17, 2019 9:10 pm
  • I need POS how can I get it? I live Obiaruku, Delta State. and how much is it?

    Blessing June 1, 2019 5:01 am
  • Hello l need pos much is it

    Yakub ahmad aremu June 7, 2019 4:16 pm
  • Dear mrpepe,I want to buy pos from a payment terminal provider for pos business.will it work like the bank own,should I go ahead. Thanks

    Gideon June 27, 2019 2:11 pm
  • pls I need a POS, how can I get in. Am in Delta

    Ejugbo Sonia.... August 3, 2019 8:03 pm
  • I need a pos how can I get is 09033252808 live in owerri

    Michael Onyebuchi Anointed August 5, 2019 12:59 pm
  • Please oo I have a shop and I need POS for my business , paga or any other one that is very good

    loveth August 5, 2019 1:18 pm
  • Good morning sir, i need a POS for business, am in Ogun State abeokuta,

    femi September 21, 2019 12:51 am
  • My name is mohammed mayaki am leaving in niger state,and am intrested of pos business here is my phon number 08107708655.

    Mohamme mayaki September 23, 2019 8:17 am

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