POS guides

How to get Palmpay POS Machine – PalmPay POS charges, daily target, PalmPay POS machine price

PalmPay is a digital payment platform that provides users with a convenient way to make payments, buy airtime and data, and transfer money to other PalmPay users. The company also offers a point-of-sale (POS) service that allows merchants to accept card payments from customers. PalmPay POS is a portable payment terminal that merchants can use to accept payments from customers using their debit or credit cards. The device is compact, lightweight, and can be used to process payments securely and quickly. It comes with a built-in printer for issuing receipts to customers, and it can also be used to manage inventory and track sales. So this article will serve as a guide on how to get a Palmpay POS machine in Nigeria, the Palmpay POS charges, Palmpay POS daily charges, and the Palmpay POS machine price in Nigeria today.

Let’s begin with Palmpay POS charges.

Palmpay POS machine price- how to get Palmpay POS machine
Palmpay POS machine price- how to get Palmpay POS machine

Palmpay POS Charges

PalmPay POS charges may vary depending on the specific agreement between the merchant and PalmPay, as well as the location where the service is being used. 

Related: Paga POS machine price- daily target, charges and how to get Paga POS machine

However, generally, PalmPay charges a fee for each transaction processed through the POS device.

In Nigeria, the transaction fee for PalmPay POS is 0.55% of the transaction amount, and there is also a fixed fee of NGN 10 for each transaction.

In addition to transaction fees, there are also other charges such as maintenance fees for the POS device, as well as fees for withdrawals or transfers of funds from the merchant’s PalmPay account to their bank account.

PalmPay POS daily target

Palmpay, like a few other fintech companies, also has a daily target that they must meet to continually use the POS.

In Nigeria, the  Palmpay POS daily target is usually set at NGN 500,000 for new merchants. 

This simply means that the maximum amount of transactions that a merchant can process through the POS device in a day is NGN 500,000. 

However, this target may be increased as the merchant’s business grows and they demonstrate a consistent ability to meet their daily targets.

Palmpay POS machine Price in 2023

The current Palmpay POS machine price in 2023 isn’t what it is in the previous years. Some POS have seized the opportunity of purchasing when it was very cheap but today the price has gone beyond what most people think.

Currently, the Palmpay POS price in 2023 is N40,000 for the traditional POS while the Palmpay android POS cost N60,000.

How to get PalmPay POS Machine in 2023

Since you’ve known the current price of the Palmpay POS, its daily target, and more, you may want to learn how to get a Palmpay POS machine as well and that is the reason it’s included in this post.

To get a PalmPay POS machine, you’ll need to follow these steps:

Create a PalmPay Merchant Account

The very first step on how to get a Palmpay POS machine in Nigeria is to simply start by creating a Palmpay merchant account by visiting the PalmPay website or better still downloading the Palmpay Marchants app on your smartphone.

Read Also: Palmpay OK Card: How To Repay, Deactivate and Unfreeze Account

You will be required to provide some basic information about your business and bank account details.

Apply for a POS device

The second step you must take on “how to get a Palmpay POS machine in Nigeria is to apply for a POS device.

Once the merchant’s account has been verified, you can apply for a PalmPay POS device by clicking on the “Apply for POS” button in the app or website.

You will be required to provide some additional information such as the type of business you operate, your business location, and your expected monthly transaction volume.

Wait for Approval

After submitting the POS device application, PalmPay will review the application and determine if you’re eligible for the POS device.

If approved, you will receive an email or phone call confirming the approval and instructions on how to proceed.

Collect POS Device

Once approved, you will be required to go to a designated PalmPay collection point to collect the POS device.

 You will also need to provide your approved ID and pay the required deposit if applicable.

Install and start using the POS device

The last thing on how to get a Palmpay POS machine is to install and start using the POS device.

After collecting the device, you can install it and start using it to accept payments from customers.

Frequently asked questions on how to get Palmpay POS in Nigeria

Below are the frequently asked questions on the topics-how to get Palmpay POS in Nigeria, the Palmpay POS charges, Palmpay POS daily charges, and the Palmpay POS machine price in Nigeria today:

Does PalmPay have a POS machine?

Yes, PalmPay offers a mobile Point of Sale (POS) machine that allows merchants to accept payments via card or QR code.

How much is PalmPay in Nigeria?

PalmPay is a mobile payment app that is free to download and use.

However, users may incur transaction fees when using the app for certain services, such as money transfers or bill payments.

How do I become a POS agent for PalmPay?

To become a PalmPay POS agent, you can visit their website or download the app and follow the instructions on how to sign up as an agent.

 You will be required to provide certain details and complete some verification processes.

Which bank owns PalmPay?

PalmPay is owned by Transsnet Payments, a joint venture between Transsion Holdings and NetEase. Transnet Payments is not a bank, but a fintech company that provides payment and financial services.

Leave a Reply

Back to top button