Bank at your Doorstep

Hey there! If you're not Nigerian, have you heard of point of sale (POS)?

POS which stands for point of sales refers to a system of service that allows you to pay for goods and services, make transfers and withdrawals of funds, Make cash deposits, pay electricity bills, Subscriptions etc. Without getting to the bank or offices.

pos stand or kiosk

The point of sales services in our country has developed to something super amazing. I call it bank at your doorstep!

Bank at your doorstep?

Yes, I call it bank at your doorstep because these service providers are everywhere, in the Streets, roads and markets.
For people who do not live close to the bank they can easily walk to a POS to withdraw cash. Thereby reducing queues at the bank ATM. It's much easier to use POS to make monetary transactions.

POS service allows individuals, even those who do not have a bank account to access and use financial services. People from very long distances can now engage in digital transaction without moving to a long distant bank and still joining a long queue.

Why POS matter

• Quick payment: With POS service we can easily pay for goods and services with our debit or credit card. The POS machine guarantees a safe and cashless transactions as fast as anything.

• Safe transaction: Every transaction made with POS service is very safe as it has a digital receipt that can also be printed our in paper form.

• Small business can grow by using this service, because not everyone has cash to buy goods so a business that offers POS service will make more sales.

• It's easy to make payments for electricity bills and movies subscriptions even without getting to the offices.

It's also easy to open a POS business

POS service provides are usually in small kiosks and from there they do everything they do. That's why their are a lot of POS service providers.
To open a POS business the following are needed:

• A small rented or owned piece of land where the business is located

• A kiosk: The kiosk houses the POS machine, from there all the transactions are made.

• A POS machine: The machine used for the transactions

pos machine

• Cash: A start-up fund is needed for every business, for this business you need physical cash to exchange for digital money. You also need digital money to credit those who come to deposit cash.

• Financial planning: This is to know how much to charge for each transaction, and to determine the profit margins

POS services:

• Transfers
• Deposit
• Withdrawal
• Payment of bills

How much can you earn from POS?

Well it depends on the amount you put in. For example

POS service ensures:
Convenience: It is much convenient to use POS for transactions, no need to carry large amount of money.

Security: There's low risk of theft and fraud

POS have made it very easy for us here, especially those living in rural areas where it's a bit difficult to access the bank 🏦. POS is everywhere and they can easily go there to make transactions.