Palmpay POS- With 10 million users and a network of 200,000 mobile money agents since its launch in 2019, PalmPay has quickly established itself as one of the continent’s leading and fastest-growing payment providers.
By providing financial account creation, money transfers, bill payments, and immediate access to credit services, the company enhances users’ digital payment experiences. UK-based PalmPay was established in 2019 and has its headquarters there.
Frequently asked questions:
How to get a palmpay pos machine
You must provide the requirements that will mention below in order to receive the Palmpay POS, such as:
- Nepa bill, passport photo, and a valid ID card (national ID card, driver’s license, voter’s card, or international passport).
- Business Permit (For Registered businesses only)
- Valid BVN
- Valid Account Number
- Evidence of a location for starting your POS business
- Your name, date of birth, gender, email address, phone number, and mother’s maiden name are additional details you will need to apply for Palmpay POS.
Here are the steps to take if you satisfy these conditions and requirements to obtain the Palpay POS:
- Install the PalmPartner app first (Available on Android and iOS)
- Then register and submit all the necessary data for approval.
- The POS will then begin the payment and delivery process after that (It can take up to 7 days)
- A Palmpay representative will call you to inquire about your approval or disapproval.
To quickly get your Palmpay POS, you can also go to PalmPay’s Lagos location at 20, Opebi Road, Ikeja, Lagos. Just be certain you are carrying all necessary documentation.
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Types of palmpay pos
There are two types of Palmpay POS:
Traditional Palmpay POS: This was the company’s first iteration of POS and it works similarly to the new type (both in features and in charges)
Palmpay Andriod POS (Screen touch): A new POS from Palmpay with Android features and a user-friendly interface made possible by screen touch technology.
How much is palmpay pos machine in Nigeria
- A traditional Palmay POS terminal costs N20,000 (cautionary fee/rent) and N40,000 to purchase outright.
- Android Palmpay POS Machine cost N30,000 (rent/cautionary fee) and N60,000 to purchase outright.
It is crucial to remember that the fees are only intended as a precaution and will be returned to the agent when the Palmpay POS machine is returned in good condition. If you choose the renting option, PalmPay may decide to take your POS machine away if you don’t meet its target. However, if you purchase the POS directly from Palmpay and pay a full purchase price of N40,000 or N60,000 rather than a cautionary fee of N20,000 or N30,000, you won’t have to worry about Palmpay reclaiming the POS from you.
How to collect palmpay pos banner
You’ll receive a banner and other free branding materials from Palmpay when you’re accepted as an agent.
Palmpay pos withdrawal charges
- ₦1000 charges – ₦5
- ₦2000 charges – ₦10
- ₦3000 charges – ₦15
- ₦4000 charges – ₦20
- ₦5000 charges – ₦25
- ₦6000 charges – ₦N30
- ₦7000 charges – ₦35
- ₦8000 charges – ₦40
- ₦9000 charges – ₦45
- ₦10,000 charges – ₦50
- ₦11,000 charges – ₦55
- ₦12,000 charges – ₦60
- ₦13,000 charges – ₦65
- ₦14,000 charges – ₦70
- ₦15,000 charges – ₦75
- ₦16,000 charges – ₦80
- ₦17,000 charges – ₦85
- ₦18,000 charges – ₦90
- ₦19,000 charges – ₦95
- ₦20,000 charges – ₦100
- Any amount above ₦20,000 charges ₦100 (even though it is ₦600,000). Fees, deposits, and commissions
Deposits of any size will be billed at a rate of 10 naira. When customers ask you to help them send money to someone, PalmPay will charge you N10 for the transfer even if the amount you send is N100,000.