Kuda Soft POS: What is it, Features and How to Use it

Do you know you can turn your smartphone from being just a phone to a POS using a soft POS on the Kuda business? Yes, it is possible. All you have to do is to open an account with them and importantly, it is free of charge.

Kuda soft POS unlike other POS we see, offers customers the opportunity to create a business account for companies and those interested in starting a POS business.

Interestingly, to carry out transactions using this feature, you don’t need a POS machine as your smartphone would operate as the POS terminal itself allowing you to track your funds, and send and receive money not only in Nigeria but within Africa.

I know you are willing to enquire how to get started with this business opportunity, keep it at the back of your mind that this is your final destination as you will be provided with what you need to know.

ALSO READ: Forgot My Kuda Bank Password And PIN – How To Reset, Change And Recover Kuda Bank Password And PIN

Interest Rate

Kuda offers a short-term loan with a daily interest of 0.3% with no paperwork involved.

You can get close to 15% annual interest when you have a fixed savings with Kuda. All you have to do is save some money and then sit and watch your money grow. With this, you can avoid ridiculous spending. You can decide to save either daily, weekly, or monthly. You can give it a possible try.

Loan Requirements

Kuda offers a short-term loan which is termed an “overdraft” You don’t need paperwork to be eligible. All you have to do is sign up for the app and upgrade your account.

This can be done using your BVN and a valid ID (National ID, driver’s license, voter’s card, and more) then, use your account regularly to transact like purchasing airtime, paying for subscriptions, and lots more. In their interest, they will offer you their overdraft. Moreover, you will be prompted to pay a 0.3% interest daily. The overdraft takes 90 days before a refund. You have to pay on time to be eligible for more loan opportunities.

How to Apply for Kuda Soft POS

There’s no big deal in applying for the Kuda soft POS. it’s pretty easy to do that because it’s just an added feature on the Kuda business app. Follow the steps below to apply.

Step 1: Download the app

Download the app from the Google Play Store or the bank’s website. To do this, you need a strong internet connection.

Step 2: Create Account

After successful download, you proceed to create your account by following the steps provided in the app. Fill in your information correctly. From here, you need to verify your created account for functioning. If you don’t verify your account, it will not be functional.

Step 3: Upgrade the Account

The third step is to upgrade your account to Tier 3 where you need to provide your BVN and any valid ID used in Nigeria to complete the process.

You need to access your dashboard after signing into the Kuda business app.

Scroll to the sell option and click to access different business opportunities offered by the savings bank for Africa.

Click on the menu icon and select manage POS device.

Then you click the Add new device option and tab on soft POS.

You will go back to the Google Play Store to download the soft POS and sign in with the information used in your Kuda business account.

Lastly, you can start your transactions using the app.

FAQs

Is Kuda Soft a POS Scam or Legit?

Yes, kuda is legit. Aside from checking the reviews on Google Play and customers’ reviews on their website, being licensed by the Central Bank of Nigeria, CBN alone is enough to tell how legit and safe this digital bank is. All transactions within this app are 100% digital and secured. Also, their transaction is fast and reliable.

What Payment Options are on Kuda?

There are several options you can use for payment on Kuda. It’s left for you to choose the one that best suits your requirements. These payment options can include paying with Kuda, paying with QR scan codes, paying via USSD, and lastly, paying with a card.

How much does Kuda Transfer Cost?

The first 25 transactions performed on the app within a month are free of charge. The next transaction will be charged at N10 for each performed.

How much is the Maximum Limit you can send to a Kuda Soft POS Account?

The maximum limit you can send at a time on the Kuda app is N1000000. However, your account can hold more than N5000000.

Does Kuda Offer Fixed Savings to Customers?

Yes, kuda offers a fixed saving opportunity to customers to keep their money while watching their money grow. If you are someone who spends money a lot this is an opportunity for you to spend less money. The savings could be daily, weekly, or monthly depending on your ability.

Conclusion

Do you know why you should make use of the Kuda soft loan app to track your earnings and make transactions? It’s flexible, fast, and user-friendly to use. Furthermore, you can decide to transact either through their mobile app or their websites. And you what? Each of them serves you better.