OPAY is a leading financial technology company in Nigeria that offers various digital financial services, including money transfers, bill payments, and mobile banking. OPAY POS machines are an excellent way for businesses to increase their revenue streams and improve customer experience.
In this guide, we will be discussing How To Get OPAY POS Machine, the requirements for obtaining an OPAY POS machine, the price of the device in Nigeria, and the charges associated with transactions and withdrawals. We will also explore the benefits of using OPAY POS machines for businesses and customers alike.
OPAY POS machines are user-friendly and easy to use, making them an ideal solution for businesses of all sizes. To get started with obtaining an OPAY POS machine, you must first meet the requirements set by the company. These requirements include having a valid business registration, a functioning bank account, and a verifiable business location.
Once you meet the requirements, you can proceed to the next step of obtaining an OPAY POS machine, which is to fill out an application form. This form can be obtained by contacting OPAY customer support or visiting any OPAY agent location.
After filling out the application form, you will be required to make a deposit to secure your POS machine. The price of an OPAY POS machine in Nigeria is affordable, with prices ranging from N40,000 to N60,000 depending on the model of the device.
OPAY POS machines offer competitive transaction and withdrawal charges, with a flat rate of 0.5% charged on transactions below N500,000 and a flat rate of N100 charged on transactions above N500,000. Withdrawals are charged at 1% of the total amount withdrawn.
One of the key benefits of using an OPAY POS machine is the convenience it offers both businesses and customers. With OPAY, customers can make payments with ease, and businesses can increase their revenue streams by accepting various forms of payment, including debit cards and mobile money transfers.
Are you interested in obtaining an OPAY POS machine for your business? If so, let’s dive in and explore the steps you need to take to get started!
How To Get OPAY POS Machine
Visit an OPAY office or agent location: The first step in getting an OPAY POS machine is to visit an OPAY office or agent location. You can find a list of OPAY locations on their website or by contacting their customer service.
Provide necessary documents: You will need to provide some documents to verify your identity and business ownership. These documents may include a valid identification card, a passport photograph, a utility bill, and a CAC registration certificate (for registered businesses).
Fill out an application form: After providing the necessary documents, you will be required to fill out an application form. The form will contain your personal and business information, including your name, business name, address, and contact details.
Wait for approval: After submitting your application form, you will need to wait for approval from OPAY. The approval process may take a few days, and you may be required to provide additional documents or information.
Purchase the POS machine: Once your application is approved, you will need to purchase the POS machine. The price of the machine varies depending on the model and features, and it typically ranges from N25,000 to N50,000.
Activate the POS machine: After purchasing the POS machine, you will need to activate it by following the instructions provided by OPAY. The activation process may involve downloading an app, connecting the machine to the internet, and entering some information.
Start accepting payments: Once the POS machine is activated, you can start accepting payments from your customers. OPAY POS machines accept multiple forms of payment, including debit cards, mobile money transfers, and QR code payments.
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How To Request An OPAY POS Machine?
To request for an OPay POS machine in Nigeria, you need to complete certain steps including upgrading your KYC to Level 3 and switching your profile to Merchant. Here’s how to do it:
- Download the OPay App onto your device and sign in to your profile.
- Upgrade your KYC to Level 3 by going to the “Me” section, clicking the picture icon on the top left corner to go to Account Details, and clicking “Upgrade to Level 3”. Upload a valid ID card, recent utility bill, your BVN, and submit. It takes 24-72 hours for OPay Team to review and approve/decline your KYC.
- Switch your profile to Merchant by going to “Me”, clicking the picture icon, and then clicking “Upgrade to Merchant”. Fill in your business information and click “Upgrade”. The OPay Team will review and approve/decline your request.
- Once you’ve upgraded to KYC Level 3 and switched your profile to Merchant, go to “Merchant Apply” and enter all necessary information as requested. Upload your transaction history for the past 3 months, a valid ID card, and a snapshot of your business station.
- Submit your request for review. The OPay Team will review and approve/decline your request.
Note: We ensure that all informations provided are accurate and up-to-date to increase the chances of your request being approved.
Once you have completed the registration process for the Opay Merchant account, you should expect to receive a response from Opay within 48 hours through an Opay mini specialist. Alternatively, you can contact them at +23418888329 or minipos@opay-inc.com to follow up on your application status.
The response you receive from Opay will indicate whether or not you have been accepted as an OPay POS merchant, and it will provide guidance on the next steps to take.
OPay offers one of the best POS rates in Nigeria currently, and to increase your chances of being accepted as a merchant, it’s important to ensure that you provide accurate information when filling out the merchant registration form.
OPAY POS Machine Price In Nigeria
The Opay POS machine is provided free of charge to approved merchants, with no initial cost of ₦0.
However, there is a catch. Opay requires a caution fee of 20,000 Naira to be available in your OPay wallet once the POS application is approved. This fee will be deducted from your wallet and the caution fee charge will begin.
Upon return of the POS machine to the company, the N20,000 caution fee will be refunded to the Opay agent.
OPAY POS Charges
Opay POS transaction charges can be as low as 0.5% when using the mini POS. It’s important to note that there is an initial charge of 0.6% per transaction, which reduces to 0.5% after upgrading to Preferred Merchant status.
Opay Pos Customer Care Number
If you require assistance with your OPay POS machine, you can reach out to their customer service team via phone at +23418888329 or email at minipos@opay-inc.com.
For immediate support, you can also contact OPay customer service via chat at +234 (01) 8888329. The OPay office is located at Alexander House, Otunba Jobi Fele Way, Ikeja, Lagos, Nigeria.
CONCLUSION
the OPay POS machine is a convenient and reliable payment solution for businesses in Nigeria. To obtain the machine, you need to follow the steps outlined in this guide, including upgrading your OPay profile to KYC level 3, switching to a merchant profile, and applying for the POS machine through the ‘Merchant Apply’ feature in the app.
While there is no initial cost for the POS machine, merchants are required to have a caution fee of N20,000 available in their OPay wallet once the application is approved. The transaction charges for the OPay POS machine can be as low as 0.5% for mini POS users, and merchants can enjoy reduced charges by upgrading to Preferred Merchant status.
If you encounter any challenges with your OPay POS machine, you can contact the OPay customer service team through various channels, including phone, email, and chat.
Overall, the OPay POS machine is an excellent payment solution for Nigerian businesses, and merchants can take advantage of the features and benefits it offers to enhance their operations and improve customer experience.