PalmPay POS Machine: How to Become an Agent, Price & Types

Palmpay POS Machine: The price of PalmPay POS in Nigeria varies depending on the type and features. 

PalmPay understands Nigerians’ money needs. They have different POS options for all businesses.

The price of PalmPay POS machines in Nigeria varies. But they want to keep it affordable for everyone.

If you want a PalmPay POS for your business, it’s easy. We’ll help you through the process, from applying to the benefits.

In this guide, we’ll explore how you can become a PalmPay POS agent, the different types available, and their prices. We’ll also delve into important topics like how to get a PalmPay POS, associated charges, daily target requirements, and more.

About Palmpay

PalmPay is an e-wallet and online payment platform available through a mobile app.

It’s a top fintech company in Nigeria with over 5 million downloads on Google Play Store.

With the PalmPay app, you can send and receive money, buy airtime with cashback, and pay bills for rewards.

PalmPay also offers opportunities like the PalmPay POS for customers to earn.

About Palmpay POS

PalmPay POS, also known as PalmPay mobile money or PalmPay partner, lets customers earn by providing financial services like withdrawals, deposits, and transfers.

These POS machine owners, called PalmPay POS agents or merchants, earn from PalmPay and fees collected from customers.

Agents offer services like withdrawals, deposits, transfers, bill payments, and more while making money from these transactions.

If you’re in the POS business, having a PalmPay POS can boost your business with commissions, low fees, and incentives.

Agents get support from a dedicated sales manager and the company’s customer care line.

Types Of PalmPay POS Machine

PalmPay offers two types of POS machines:

• Traditional POS: This is the regular, old-fashioned type that handles standard financial transactions.
• Android POS: This is the modern type with an Android interface, similar to a smartphone, and can also handle all financial transactions.

Both types are easy to use, with the same transaction charges, but they have different prices.

How much is Palmpay POS Machine

The PalmPay POS machine is available in two types, each with its own pricing structure and requirements.

For the traditional (Old-fashioned) PalmPay POS machine, the price is 20,000 Naira (₦20,000), while the android (New-fashioned) PalmPay POS machine is priced at 30,000 Naira (₦30,000).

Please note that these prices are not for purchasing the POS machine outright; they represent the cautionary fee or rental fee for using the PalmPay POS machine. In other words, you can return the machine and receive a full refund if it remains undamaged and you decide to no longer use it.

Palmpay POS Requirements

To obtain a PalmPay POS machine, you must meet certain qualifications:

• Provide a valid identification document such as an international passport, voter’s card, National ID card, or driver’s license.
• Have a valid bank account number and Bank Verification Number (BVN).
• Submit utility bills, such as an electricity bill, water bill, or waste bill.
• Ensure you have a physical space that is not in close proximity to other PalmPay agents or merchants.
• Familiarize yourself with the transaction user interface of the PalmPartner app and be capable of performing basic transactions.
• Once you meet these requirements, you can become a PalmPay merchant and proceed to acquire a POS machine.

How to get Palmpay POS Machine

Here’s a step-by-step guide on how to obtain a PalmPay POS machine:

• Download the PalmPay POS app (PalmPartner) from the Play Store or App Store.
• Install the app and sign in using your PalmPay login credentials, or create a new account if you don’t have one.
• On your dashboard, locate the “PalmPay POS” option and click the “Apply Now” button.
• You may be prompted to upgrade your account. If it’s not already upgraded, you can do so by providing your BVN.
• Complete the application process and wait for a PalmPay customer care representative to contact you.
• Answer any questions posed by the representative. If you meet the qualifications, your application will be approved.
• After paying the cautionary fee, your POS machine will be dispatched to you within a few days.

This process will enable you to acquire a PalmPay POS machine and kickstart your POS business to start earning income.

Operating a PalmPay POS Machine

Operating a PalmPay POS machine is straightforward, regardless of the type you acquire from Opay. Here are the general steps to operate a PalmPay POS machine:

Follow On-Screen Instructions: To use the PalmPay POS machine, simply follow the instructions displayed on the machine’s screen. The machine will guide you through the transaction process step by step.

PalmPay POS Machine Features

The PalmPay POS machine offers various transaction services to meet your customers’ needs. You can perform the following transactions on the PalmPay POS machine:

• Cash withdrawal
• Fund transfer/deposit
• TV/Cable subscription payments
• Utility bill payments
• Airtime purchase
• Data bundle subscription
• Account balance inquiries for customers
• Betting account funding
• And more.

For any transaction you wish to carry out, follow the on-screen instructions, and you’ll be able to complete it easily.

PalmPay POS Charges

It’s important to be aware of the charges associated with PalmPay POS transactions as you start your business. Here are the details of PalmPay POS charges:

PalmPay POS Withdrawal Charges

As a PalmPay agent or merchant, all withdrawals incur a charge of 0.5%.

For example, if you process a withdrawal transaction of ₦1,000, a ₦5 service fee will be deducted.

PalmPay POS Deposit Charges

Unlike withdrawal charges, deposit charges are fixed at ₦10 for any deposit amount.

This means whether you are depositing ₦100 or ₦10,000, the fixed service fee is ₦10.

PalmPay POS Commission & Daily Targets

As a PalmPay agent, you have the opportunity to earn more through incentives, commissions, and meeting daily, weekly, or monthly targets. Here are some ways you can earn as a PalmPay agent:

Incentives: PalmPay offers incentives when you reach specific milestones in terms of transaction volume or value. These incentives can be earned on a daily, weekly, or monthly basis.

Commissions: You can earn commissions on various transactions, including bill payments and airtime purchases. The exact commission rates may vary.

Do you need Palmpay POS banner? Let’s show you how you can get one!

PalmPay POS Banner: How to get one

Once you’ve applied for a PalmPay POS machine and are eagerly awaiting its arrival, you may be wondering how to obtain a PalmPay POS banner to promote your business. Typically, services like Firstmonie and Opay provide banners along with their POS machines. Similarly, PalmPay offers POS banners to help you quickly kickstart your business and promote its growth. Here’s how you can get a PalmPay POS banner:

• With Your POS Machine: In many cases, the PalmPay POS banner may be included alongside your POS machine when it’s delivered to you. It’s common for providers to supply promotional materials like banners with their hardware.
• Contact PalmPay Customer Support: If your POS machine arrives without a banner or if you need additional banners, you can contact PalmPay’s customer care support. They can assist you in obtaining the POS banner and provide you with more information about it.
• Inquire About Free Branding Materials: It’s worth noting that PalmPay provides banners and flyers for branding purposes completely free of charge. You can make inquiries about the availability of these branding materials and how to obtain them.

Let’s check out benefit of this POS 

PalmPay POS Benefits

Whether you’re experienced in the Nigerian POS business or just starting out, you may be curious about the benefits of using PalmPay POS. Here are some compelling reasons to consider PalmPay POS:

• No Minimum Float Balance: As a PalmPay merchant, you are not required to maintain a minimum float balance, offering you flexibility in managing your funds.
• Weekly Commission Payments: Unlike some other POS services that pay commissions on a monthly basis, PalmPay pays its commissions weekly, providing you with more frequent access to your earnings.
• Increased Commissions on Bill Payments: You can earn higher commissions when customers make bill payments through PalmPay, making it a potentially more lucrative choice.
• Low Transaction Fees: PalmPay offers competitive and beginner-friendly transaction fees, allowing you to offer affordable services to your customers.
• Performance-Based Incentives: You have the opportunity to earn monetary bonuses and incentives based on your performance as a PalmPay agent. Meeting milestones can lead to additional earnings.
• Free Branding: PalmPay supports your business by providing free branding materials such as banners and flyers, helping you create a professional and recognizable business presence.

Frequently Asked Questions on Palmpay POS

Does PalmPay have a POS machine?

PalmPay POS Machine Price in Nigeria – Charges (Get Yours)

To buy and own the POS machine, here’s the price: Traditional PalmPay POS is ₦40,000. Android PalmPay POS is ₦60,000.

How to Request an PalmPay POS Machine?

• Download PalmPartner from iOS or Android Playstore.
• Complete the application form in the app.
• Agree to the terms and conditions.
• Upload the required documents.
• Submit.
• Sit back and expect a call from the PalmPay team (within 7 days)

Can I do POS on my phone?

You can use a POS app on any mobile device, whether it’s a smartphone or tablet, and use it to process sales. This means you can accept payments wherever you are.

Do POS need internet?

Instead, they store the data they collect on servers physically located in the place where the businesses operate from. It’s true, your POS does not have to be connected to the internet, but you have plenty to worry about if your system does not synchronize its data to the cloud.

Dynablog’s conclusion on Palmpay POS Machine

PalmPay POS machines present a lucrative opportunity for Nigerian merchants, featuring no minimum float balance, weekly commissions, competitive fees, and performance-based incentives, all supported by free branding materials.