Nine out of ten businesses in Nigeria prefer Moniepoint POS to other POS. This is because of it advantages over other POS terminal. Moniepoint, a leading fintech company in Nigeria, has rapidly emerged as the preferred choice for businesses seeking reliable and efficient point-of-sale (POS) solutions. In this article, we'll explain the key benefits of Moniepoint POS and reasons why Moniepoint POS has become ubiquitous across Nigeria.
1. Unparalleled Reliability
Moniepoint POS machines have a lower-than-average transaction decline rate, ensuring smooth and successful transactions for businesses and their customers. In case of failed payments, Moniepoint instantly reverses the transactions, providing a hassle-free experience.
2. Extensive Reach and Accessibility
Moniepoint has expanded its footprint across all 774 local governments in Nigeria, making its POS machines readily available to businesses in both urban and rural areas. As of January 2024, around 2.3 million businesses were using Moniepoint's payment machines.
3. Seamless Integration with Multiple Payment Methods
Moniepoint POS terminals accept payments from various sources, including cards from any bank or fintech company. This flexibility allows businesses to cater to the diverse payment preferences of their customers.
4. Instant Payment Alerts and Reversal
Merchants using Moniepoint POS machines receive instant payment alerts, providing real-time confirmation of successful transactions. Additionally, the ability to instantly reverse failed payments gives businesses and their customers peace of mind.
5. Dedicated Account for POS Transfers
Moniepoint offers a unique feature that allows businesses to receive transfers directly to their POS terminals. Each terminal is assigned a dedicated account number for this purpose, making it convenient for customers to validate the recipient's identity and initiate transfers.
6. Fraud Protection and Dispute Resolution
Moniepoint's POS transfer feature includes tamper-proof records of all money transferred to business accounts, protecting against fraud. The system also allows businesses to validate customers through their BVN images and automate refunds for rejected transfers.
7. Competitive Transaction Fees
Moniepoint charges a transaction fee of 0.5%, capped at ₦100 per transaction. Businesses with high transaction volumes may even qualify for fee concessions.
8. Cashback on Withdrawals
Moniepoint offers cashback on withdrawals made using its POS terminals, providing an additional incentive for businesses to choose its services.
9. Seamless Integration with Moniepoint's Suite of Financial Services
As a fintech company, Moniepoint offers a range of financial services beyond POS solutions, including microfinance banking, business loans, and online payment gateways. This integrated approach makes Moniepoint a one-stop-shop for businesses seeking comprehensive financial solutions.
In conclusion, Moniepoint's POS solutions have gained widespread popularity among Nigerian businesses due to their reliability, accessibility, flexibility, and the additional benefits they offer. As the fintech company continues to innovate and expand its services, it is poised to maintain its dominance in the Nigerian POS market.
