08/01/2022
WHAT IS POS AND POS BUSINESS???
Firstly, POS means Point Of Sales payment. That is, it is a device used for making payment at the point of sell of a product or service. Base on the unavailability of banking services, the device is used to render banking services to customers and at a commission. That is, the customer who wants to get N10,000.00 cash, makes payment of N10,200.00 with his/her ATM card and you the agent pays him/her N10,000.00 only, making N200.00 profit. From the N200.00, the POS company takes about 0.6%(10-15k), which is N60.00( if it's 10k) and leaves you with N140.00. For 1k-5k, the company will take N30.00 and whatever you charge the customer is yours.
If you are able to do 100 transactions in a day, you will have N140.00 x 100 = N14,000.00
You need an outlet like shop or small place with Umbrella, small table, chair, book and pen for the recording of all the transactions done with date for reference purposes.
With as little as N20,000.00 you can start. If you charge the customer N400.00 for N20,000.00 and another customer comes with N20,000.00 cash to be transferred into his/her account or to another account, you still charge N300.00 or more, depending on your location. This N20,000.00 can be giving you average of N500.00 daily after POS company commission. The more money you have, the more commission you make.
Enjoy the weekend..!