How Much is Palmpay POS Machine in Nigeria?

ByLight Chinedu Chidi Hours

How Much is Palmpay POS Machine in Nigeria? PalmPay POS Machine in Nigeria.

PalmPay POS machine. It’s a hot topic. Many people want it. Business owners, shopkeepers, and even small-scale traders. It’s a smart move if you want to make extra income. But, how much does it cost? Is it affordable? Let’s break it down.

How Much is PalmPay POS Machine in Nigeria?

PalmPay offers different POS machines. Each has its price. The cost depends on the type of machine you want.

In 2024, the price ranges from N30,000 to N90,000. It depends on the model and features. Some machines are basic. Others are advanced, with better functions.

See this:

  1. Mini POS – This is the cheapest. It costs N30,000 to N45,000. Small, portable, easy to use. Perfect for small businesses.
  2. Android POS – More advanced. Touchscreen, faster transactions. It costs N60,000 to N90,000. Ideal for bigger businesses.

PalmPay sometimes offers discounts. You could pay less during promotions.

PalmPay POS Charges and Commission

Getting the machine is just the start. PalmPay takes a small cut from each transaction. Here’s what to expect.

  • Withdrawals – PalmPay charges 0.5% on cash withdrawals below N20,000. For higher amounts, the fee is N100 flat.
  • Transfers – For bank transfers, you pay N20 to N50 per transaction.
  • Bill Payments – PalmPay allows bill payments. TV, electricity, and more. You earn a commission on each payment.

This commission structure makes it easy to earn daily. The more transactions, the more profit.

Requirements to Get PalmPay POS in Nigeria

Want to get a PalmPay POS machine? You must meet some requirements.

Here is what you need:

  1. Business Registration – CAC certificate (if available). Not compulsory for small businesses.
  2. Valid ID – National ID, Driver’s License, or Voter’s Card.
  3. Business Location – A physical shop or location.
  4. Bank Account – Active bank account for settlements.
  5. BVN – Your Bank Verification Number for verification.
  6. Application Form – Fill the PalmPay POS application online or through an agent.

PalmPay reviews your application. If approved, you get the machine within 5-10 working days.

How to Apply for PalmPay POS Machine

The process is simple. Follow these steps:

  1. Visit PalmPay’s Website – Go to PalmPay official site or use the PalmPay Business app.
  2. Register – Sign up with your details. Include your business name and location.
  3. Submit Documents – Upload your valid ID and business details.
  4. Request POS – Apply for a POS machine. Choose the type you want.
  5. Wait for Approval – PalmPay reviews and contacts you if approved.
  6. Receive POS – After approval, you get the machine in a few days.

You can also apply through certified PalmPay agents. Always verify before payment.

Is PalmPay POS Profitable?

Yes. It is profitable. Many agents earn daily. You make money from every transaction.

Here’s how it works:

  • Cash Withdrawals – Earn N100 for every N20,000 withdrawal.
  • Transfers – Collect N50 per transfer.
  • Bill Payments – Earn a commission from utility bills.

The profit depends on your location and customer base. High-traffic areas make more money.

Common Issues with PalmPay POS and Solutions

No system is perfect. PalmPay POS has some common issues. Here are solutions:

  1. Network Failures – If the network is down, wait or restart the machine.
  2. Delayed Settlements – If your money delays, contact PalmPay support. They usually resolve issues fast.
  3. POS Malfunctions – If the machine has problems, report to PalmPay. They may replace or repair it.

Always keep customer receipts. It helps during disputes.

FAQs

Can I Get PalmPay POS Without a Business?

No. You need a business location. Even a small shop or kiosk works.

How Long Does PalmPay POS Delivery Take?

It takes 5-10 working days after approval.

Do I Pay Monthly Charges?

No. PalmPay doesn’t charge monthly fees. You only pay per transaction.

Can I Use PalmPay POS in Rural Areas?

Yes. As long as there is a stable network. It works in most places.

What Happens If My POS Stops Working?

Contact PalmPay support. They offer repairs or replacements.

Is PalmPay POS Better Than Others?

Yes. PalmPay POS is reliable. It has low charges and fast support.

What Documents Do I Need?

Valid ID, bank details, and business address. CAC is optional.

Can I Return the POS Machine?

Yes. If it is faulty, PalmPay allows returns under warranty.

How Much Can I Earn Monthly?

It depends on your location. Some agents earn over N100,000 monthly.

Is PalmPay POS Safe?

Yes. Transactions are encrypted and secure.