Point of Sale Terminal
POS terminals play a key role in the actualization of the cashless banking objectives as they become a more popular means of receiving payments and transacting business.
Who are the target merchants?
What is the minimum size of merchant business to qualify for POS?
POS equipment is expensive. Therefore, we target merchants that do a minimum of N1,000,000 turnover per month, or N35,000 per day. The business should also have controlled access to the POS terminals.
Can a merchant have multiple POS machines?
Yes, a merchant with large area coverage or many cashier outlets with high turnover that is in multiples of L$1,000,000 can have multiple PoS Machines.