In Nigeria, the Palmpay POS machine has become one of the most widely circulated POS machines. This is because the Palmpay POS machines are easy to use, fast, affordable, and have great charge rates. However, many are still in the dark about how the Palmpay POS machine works. In this article, you would be reading about Palmpay POS charges, daily target, POS machine price, and how to get a Palmpay POS machine. Let’s get started!
Palmpay POS Price
The price of the Palmpay POS machine is quite affordable. With the amazing features of the Palmpay POS machine, you can still get the machine for a relatively small amount as compared to other POS machines.
The price ranges depending on the type of Palmpay POS machine you want to go for.
For the Palmpay Android POS machine, you can get it for about 60,000 – 65,000 naira.
For the Palmpay Regular POS (button) machine, you can get it for 40,000 – 45,000 naira.
However, if you do not have this amount of money available for purchase, there’s another means you can use to get the Palmpay POS.
You can decide to rent the Palmpay POS machine. The drawback of this is that you would be asked to pay a cautionary fee. This cautionary fee is usually half the price of the original Palmpay POS.
Another drawback to this is that, if you fail to consistently reach the daily limit on the Palmpay POS, your POS would be withdrawn from you. This is because it is still viewed as a rent item that can be withdrawn at any time.
Palmpay POS Charges
The Palmpay POS has a considerate charge rate. This charge carried out by Palmpay (in comparison to other Fintech companies) per transaction, is moderate which has helped in making Palmpay one of the most used POS machines in Nigeria.
Palmpay charges 0.5% on withdrawal transactions. Yes, isn’t that amazing?
This means that if you intend to withdraw 10,000 naira, you would only be charged only 50 naira. For 15,000 naira, you would be charged only 70 naira, and so on.
If you are an agent, you would agree that this rate is not suffocating in comparison to other companies.
Getting a Palmpay POS machine is relatively not as tasking as other POS machines from other fintech companies. If the requirements are followed, then there would not be issues in owning a Palmpay POS machine. Let’s find out the requirements to get this POS machine before getting to know the steps to get a Palmpay POS machine.
Palmpay POS Machine Requirements
1. Proof Of Identification
The reason why this is important is to reduce the rate of ghost applications on the Palmpay platforms. So, for your request to be granted, you need to show proof of your identification.
2. Proof Of Address
Your proof of address can be shown through your utility bills such as a light bill or water bill. These documents show your address and thus would be needed in the application process.
3. Bank Verification Number
This is important to know your track record and your credit score. Your BVN would be scrutinized to confirm if you have any strike from your bank before your application.
How To Get a Palmpay POS Machine
If you have these documents and have met the requirements above, then you need to follow the steps outlined below to get a Palmpay POS machine.
Step 1. Create A Palmpay Account
First, download the Palmpay or Palmpartner app and then click on sign up on these two apps.
Step 2. Contact the Customer Care
On the Palmpay app, you should reach out to the customer care agents and make known your intention of owning a POS machine.
Step 3. Fill Out The Form
A form would be opened for you to fill out upon your request of owning a Palmpay POS machine. So, input your correct details and information.
Step 4. Attach Relevant Documents
Include a scanned soft copy of those documents listed in the “Requirements” section of this article. When you have them handy, it would be easier to apply without going back and forth.
Step 5. Wait For Approval
The next step involves waiting for your request to be granted before making a purchase.
Step 6. Proceed To Pay
If you’ve gotten the approval, then you can proceed to pay for your POS machine. Be sure to include your address so it would be delivered to you at your location.
How much does PalmPay POS charge per transaction?
Per transaction, Palmpay charges a flat rate of 0.5%. You get charged this low-interest rate to enable you to work freely. So, This means that for a withdrawal of 1,000 naira, you get charged only 5 naira.
How do I get a POS machine from PalmPay?
To get a POS machine from Palmpay, first, you need to download the Palmpay and Palmpartner apps. Then create an account on both of the apps. After that, you get to apply for a POS machine on one of those apps. Fill out the form that would be opened to you. Then get ready to pay the cautionary fee or outright purchase the POS.
What are the benefits of using PalmPay POS?
One of the amazing benefits of using Palmpay POS is the amazing network. The Palmpay POS is very fast in completing transactions that it does so within seconds.
How much does a POS machine cost in Naira?
For the button POS machine, you can get it for 20,000 naira. For the Android POS machine, you can get it for 50,000 naira only.
Is Palmpay legit?
Palmpay is legit for carrying out all kinds of transactions you wish. It does so at a fast rate which is to the advantage of the agent.
Palmpay POS machine is one of the best POS machines to use when it comes to speed and reliability. The Palmpay POS machine also comes with affordable pricing and packages which makes it irresistible to business owners. If you’re yet to own a Palmpay POS machine as a business owner, then you don’t know what you are missing.