Moniepoint POS Charges: Understanding the Fees & Costs

As a business owner in Nigeria, it’s essential to understand the fees and transaction costs associated with using a point-of-sale (POS) system like Moniepoint POS. In this article, we’ll break down the Moniepoint POS charges, helping you make informed decisions about your business operations.

What are the Moniepoint POS Charges?

Moniepoint POS charges are fees levied on transactions processed through the platform. These charges vary depending on the type of transaction, the amount involved, and the agent’s commission. Here are some of the common Moniepoint POS charges:

1. Transaction Fees: These fees range from 0.5% to 1.5% of the transaction amount, depending on the type of transaction.
2. Agent Commission: Moniepoint POS agents earn a commission on every transaction they process. This commission is typically a percentage of the transaction amount.
3. Withdrawal Fees: If you withdraw cash from your Moniepoint POS account, you’ll be charged a withdrawal fee, which varies depending on the amount withdrawn.
4. Transfer Fees: When you transfer funds from your Moniepoint POS account to another bank account, you’ll be charged a transfer fee.

Moniepoint POS Price: How Much Does it Cost to Use?

The Moniepoint POS price varies depending on the specific plan you choose. Here are the current pricing plans:

1. Basic Plan: ₦15,000 per annum (plus VAT)
2. Premium Plan: ₦30,000 per annum (plus VAT)
3. Enterprise Plan: Custom pricing for large businesses and corporations

How to Minimize Moniepoint POS Charges

While Moniepoint POS charges are unavoidable, there are ways to minimize them:

1. Choose the Right Pricing Plan: Select a pricing plan that aligns with your business needs and transaction volume.
2. Optimize Your Transaction Volume: Process transactions in bulk to reduce the overall transaction fee.
3. Use the Moniepoint POS App: The Moniepoint POS app offers lower transaction fees compared to using the physical POS device.
4. Negotiate with Moniepoint: If you’re a high-volume agent, you may be able to negotiate better rates with Moniepoint.

Conclusion

Understanding the Moniepoint POS charges is crucial for businesses that rely on the platform for their financial transactions. By knowing the fees and transaction costs, you can make informed decisions about your business operations and minimize your expenses. Remember to choose the right pricing plan, optimize your transaction volume, and negotiate with Moniepoint to get the best possible rates. Feel Free to contact us for any inquiries