Many educated young Nigerians who don’t yet have white-collar or blue-collar jobs are turning to the POS business as their first choice.
Yes, white-collar jobs are desirable, but if we’re serious, you can still “hold body” with a POS business. With a Palmpay POS business, you can become the “mini-bank” of your neighborhood. And we will show you how to get POS machine from Palmpay just like how we showed you how to get Moniepoint POS.
Palmpay, like OPay, Moniepoint, Area Konnect, and many other fintech companies, gives you a lot of perks when you offer these mini-banking services to people in your immediate area. Palmpay is owned by a group of Chinese people who also own Palm Credit and Eazybuy.
With this job, you can choose when to work, and there is no limit to how much money you can make each month.
Why use PalmPay?
Palmpay is a leading payment platform that enables individuals and businesses to send, receive, and manage money. With Palmpay, you can make payments, buy airtime and data, pay bills, and even invest in mutual funds.
PalmPay is not like other POS merchants that hire agents to handle transactions. Here are a few things that make PalmPay stand out:
- PalmPay requires no minimum float balance requirement
- They help you build your brand by putting up banners, flyers, etc., in your space. All of it is free.
- The commissions are paid once a week instead of monthly like the others.
Requirements for getting a Palmpay POS Machine
1. Business registration documents
These documents will prove that your business is registered and authorized to operate in your country. Examples of these documents include a business name registration certificate, tax identification number, and any other relevant legal documentations. A valid identification document e.g., international passport, voter’s card, NIN, or driver’s license can also be needed.
2. Bank account information
This includes your account number, account name, and the name of the bank where your account is held. This information will be used to link your POS machine to your bank account so that you can receive payments directly.
3. Physical location
This location should be easily accessible to customers and have a stable internet connection. This is important as the POS machine requires an internet connection to process payments.
By meeting these requirements, you can now proceed to getting your POS machine from Palmpay. In the next section, we’ll dive into how to get/apply for one.
How to Get POS Machine from Palmpay
Here’s a step-by-step guide on how to get a POS machine from Palmpay:
- Step 1: Download the Palmpay app from your app store. The app is available for both Android and iOS devices, so you can easily download it on your phone or tablet.
- Step 2: Register and verify your Palmpay account. You’ll need to provide your personal information and a valid phone number to create your account. Once you’ve registered, you’ll receive an SMS with a verification code that you’ll need to enter to verify your account.
- Step 3: Apply for a POS machine. After you’ve successfully registered and verified your Palmpay account, you can apply for a POS machine from within the app. Simply go to the “Merchant” tab and select “Apply for POS.” You’ll need to provide some basic information about your business, including your business name, location, and bank account details.
- Step 4: Wait for approval. Once you’ve submitted your application, Palmpay will review it and notify you of their decision via email or phone call. If your application is approved, you’ll receive your POS machine within a few days.
It’s that simple!
What to Do After Getting Approval
Congratulations on getting approved for a Palmpay POS machine! Now that you have it, here’s what you need to do next:
Step 1: Receive the POS machine
Once your application is approved, Palmpay will deliver your POS machine to the location you provided during the application process. You’ll need to sign for the delivery and make sure everything is in order.
Step 2: Set up the POS machine
Once you have the POS machine in your hands, you’ll need to set it up before you can start using it. This involves connecting it to a power source, establishing an internet connection, and activating it through the Palmpay app. Don’t worry, the set-up process is straightforward and easy to follow. You can also refer to the user manual that comes with the machine.
Step 3: Start accepting payments
After you’ve set up your POS machine, you’re ready to start accepting payments! All you need to do is enter the amount of the transaction into the POS machine, and your customer can swipe or tap their card to complete the payment. The funds will be transferred directly to your linked bank account, making the payment process fast and hassle-free for you and your customers.
Targets On Each Palmpay POS:
Android: 40,000 daily
Traditional: 30,000 daily
Palmpay Withdrawal and Deposit Charges To Agents
Breakdown of Palmpay’s ATM card withdrawal charges;
- 1k = 5 naira
- 2k = 10 naira
- 3k = 15 naira
- 4k = 20 naira
- 5k = 25 naira
- 6k = 30 naira
- 7k = 35 naira
- 8k = 40 naira
- 9k = 45 naira
- 10k = 50 naira
- 11k = 55 naira
- 12k = 60 naira
- 13k = 65 naira
- 14k = 70 naira
- 15k = 75 naira
- 16k = 80 naira
- 17k = 85 naira
- 18k = 90 naira
- 19k = 95 naira
- 20k = 100 naira
- 20k – 1 million = 100 naira
Deposit N10 flat rate.
How Much is it to Apply for a PalmPay POS Machine in Nigeria?
Is PalmPay safe?
How to Request a PalmPay POS Machine?
1. Download PalmPartner from Playstore
2. Use the app to fill out the application form.
3. Agree to the terms and conditions.
4. Upload the important documents.
5. Submit, relax and wait for the PalmPay team to call you (within 7 days)