- Why do I need to have a PoS for my business?
Better and faster way of making payments
Convenient to use for all amounts as cash payment could be bulky
Deposits money electronically into your account without having to go the bank
Reduces risks of theft and cash handling
Transactions can be monitored online real time
MIS report can be generated anytime on the PoS terminal for you
Increases sales as customers buy more with cards than cash at hand
The economy now demands card payment as a preferred option to cash with large handling larges imposed for individuals and companies who withdraw and pay in cash
Who needs a PoS?
Based on CBN policy on cash lodgments and withdrawals, all businesses that accept cash up to N500, 000 for individuals and up to N3, 000,000 for corporate customers for their daily business transactions require a PoS terminal to avoid being charged from 2% in excess of the approved free lodgment limit. These include Supermarkets, Hotels & Restaurants, Electronic Shops, Pharmacies, Boutiques, Hospitals, Distributorships, Airlines, etc.