Opay POS machines have been popular in Nigeria since their introduction in 2010. They’re reliable, easy to use, and offer convenient features for businesses. As an Opay agent, you can become a “mini-bank” for your neighbourhood or easily make payments for your business.
If you’re familiar with this platform, you’ve likely seen our comprehensive content on starting a POS business and researched the best POS machines in Nigeria. You’ll have plenty of choices.
Getting an Opay POS machine is a simple process, and we’re here to guide you. Our post answers common questions about applying for the machine, ensuring a smooth experience.
Types of OPay POS Machine
Opay provides three varieties of point-of-sale (POS) machines:
- Opay Smart POS Machine
- Traditional Opay POS Machine
- Opay Mini POS Machine
What is the difference between OPay Smart and Traditional Opay POS machines?
OPay Smart POS machine is a card terminal that combines the functionalities of a traditional POS machine with the convenience of an Android device. It can do many things, like processing payments, scanning codes, topping up airtime and data, paying bills, transferring money, and more. It also has a printer.
On the other hand, the traditional Opay POS machine is the original type of POS machine introduced by Opay. The machine is large and includes components such as a portable printer, a display screen, and keypads.
How does OPay Mini POS work
The Opay Mini POS Machine looks like a calculator and is smaller and sturdier than the traditional one. It can handle tasks like withdrawing cash, paying bills, topping up airtime and data, and more. It requires a Bluetooth connection to your Android smartphone. You’ll need an additional printer because it doesn’t print receipts but includes a slot for inputting ATM cards.
Exploring the Costs of OPay POS Machines
Here is a breakdown of the costs and fees associated with Opay POS:
OPay POS Machine Price
Opay offers complimentary POS machines to their customers at no cost, but you can also purchase them online. Here are the prices for Opay POS machines:
- Opay Android POS machine: ₦70,000
- Opay traditional POS: ₦55,000
- Brand new Opay POS terminal: ₦54,000
- Opay MPOS new: ₦20,000
OPay POS Charges List
Let’s analyse the transaction fees associated with using OPay POS:
- Withdrawals less than ₦20,000: OPay applies a transaction fee of 0.5% of the withdrawal amount.
- Withdrawals above ₦20,000: OPay imposes a fixed transaction fee of ₦100.
- Deposits below ₦5,000: OPay applies a flat transaction fee of ₦10
- Deposits between ₦5,001 and ₦10,000: OPay applies a flat transaction fee of ₦20.
- Transfers above ₦10,000: OPay applies a flat transaction fee of ₦30 for transfers exceeding ₦10,000.
How do Opay agents make money?
Opay agents make money by earning a commission on each transaction done through the platform. The commission they get depends on the type of service and how much money is being transacted. It’s a great way for agents to get paid due to the value they offer.
The following are the OPay POS compensation structures for data top-up:
- MTN = 3% commission
- Glo = 4% commission
- 9Mobile = 4.5% commission
- Airtel = 4% commission
Here are the OPay POS compensation structures for TV subscriptions:
- DStv = 2% commission
- GOtv = 2% commission
- PHCN = 2% commission
- StarTimes = 2% commission
How to Become an OPay POS Agent in Nigeria
Becoming an OPay merchant is easy! Just follow these six simple steps:
- Log in to the OPay app (if you don’t have an account yet, here’s how to open one).
- Look for the “Account” feature and tap on it.
- Select your name display.
- Click on the “upgrade merchant” option.
- Provide the necessary details and attach the required documents.
- Finally, click on “Proceed.”
You may become an OPay merchant and start taking advantage of the opportunities and perks that come with it by following these steps.
Benefits of Getting an Opay POS Machine
The Opay POS machine provides numerous advantages for your business, including portability and durability, versatile services, instant settlements, easy acquisition, and competitive rates. Below, I will elaborate on how these benefits can positively impact your business:
Portable and Durable
Opay Point of Sale (POS) machines are renowned for their exceptional durability and portability. You can carry them around with utmost ease. This makes them perfect for various settings like markets, shops, and events.
These machines are designed to withstand frequent use, ensuring longevity and reducing the need for extensive maintenance. Acquiring an Opay POS machine gives you seamless and reliable payment processing while simultaneously adding a valuable tool to your business.
Opay POS terminals provide various payment services in one place. You can perform secure cash withdrawals and deposits, top-up airtime and data, pay utility bills, and conduct mobile banking transactions seamlessly. Having an Opay POS machine gives you the flexibility to provide diverse financial services. This enhances your business’s offerings and attracts more customers.
Say goodbye to long waiting periods for fund transfers. Opay POS devices offer quick settlements, guaranteeing that your cash are accessible right away following each transaction. This fast settlement process improves your cash flow and allows you to meet financial obligations more efficiently. Along with reducing the possibility of fraud, quick payments also increase consumer happiness and loyalty.
Opay POS machines also offer competitive transaction rates. This means that by using Opay, you enjoy lower transaction fees, which can help you maximize your profits. Opay POS devices are a great option for businesses of all sizes because of their affordability and innovative services. Considering the Opay POS price, you will not only get a reliable payment solution but also a tool that helps your business thrive.
Obtaining an Opay POS device is a simple procedure that doesn’t call for a business registeration or corporate account. Simply follow the easy registration steps to set up an Opay account. Once approved, obtaining an Opay POS machine is easy and uncomplicated. It’s a user-friendly solution to simplify your life as a business owner.
How to apply for OPay POS Machine
Applying for an Opay POS in Nigeria is a breeze. You have two options: use the Opay mobile app or visit their website. Start by registering your business on the Opay website and providing the necessary details.
You may begin to collect payments using Opay once you’ve downloaded the app. I’ll walk you through the process of applying for an Opay POS step by step.
Install the Opay Business from the App Store. You may skip this step, if you previously installed the Opay standard app.
Select “Merchant” on the Opay Business app login page if you have an account. Then login or sign up
After signing in, tap “My POS”.Look for the “Apply for POS” tab icon and tap it.
You will be taken to a website where you can choose the POS machine and the location for pick-up. After choosing your preferences, click “Next.”
Provide your recent bank statements (not exceeding 3 months) and one or two emergency contacts. The criteria may change based on the POS device you choose
Tap “Submit” to transmit your information to finish this step.
Pay the caution charge and supply a photo of a valid government ID and a photograph of the store where you’ll use the POS device.
Opay’s representatives will assess your application when you’ve provided all the necessary paperwork and satisfied the requirements, which might take up to a week.
The volume of transactions on your bank statement play a big role in approval. If the request is accepted, you will be notified through text, phone, or email.
How to Get OPay POS Machine
Getting an Opay POS machine is a breeze, as long as you meet a few regulations. Here’s what you need to do:
- Have a Reliable Phone Number: Make sure your phone number is registered in your name. This is important for communication and linking your phone to the POS machine.
- Active Opay Account: Having an active account with Opay is essential. If you don’t have one, simply sign up and create an account. It’s quick and easy!
- Age Requirement: Ensure that you are appropriate to own a POS machine. The specific age requirement may vary, so check with Opay.
- Necessary Documents: Put together documents you’ll need to show that you satisfy the above conditions. These documents may include proof of address, identification cards and any other required document.
Once everything is set up, you can submit the required documents to the Opay address that is most convenient for you or mail them to the company’s headquarters. You may select whatever option suits you.
Alternatives to Opay POS Machine
We’ve covered how to get Opay POS machine in Nigeria. But what if you want other options?
Here are several good alternatives to the Opay POS machine that still offer competitive commissions and charges:
- Nomba POS (here’s our post on getting a Nomba machine)
- Moniepoint (here’s how to get a Moniepoint machine)
- Flutterwave (here’s how to get a Flutterwave machine)
- Palmpay (here’s how to get a PalmPay machine)
Here is a full list of the best POS machines in Nigeria today.
How long does it take to get the Opay POS machine?
Every Opay POS request is evaluated and completed within 24 hours. When your request is granted, a member of the agent assistance team will contact you. They’ll tell you the best date to pick up your new POS machine.
How do I use an Opay POS machine?
Using an Opay POS machine is easy. Simply connect it to the internet and adhere to the on-screen instructions. You can try mobile payments, debit cards, and QR codes.
What should I do if my POS system experiences a problem?
If you encounter an error on your POS, don’t worry. You may encounter the following typical errors:
- Communication error.
- Wave lost. Try Again.
- SSL Connection failure.
To resolve these issues, switch off your POS for approximately a minute, then power it back on and try again. If the issue continues, take a screenshot of the error notice and post it to the WhatsApp group that the OPay Team has set up just for companies. They’ll help you figure out the problem.
What should I do if my POS indicates that the reversal has been approved, but the cardholder’s account is still charged?
If you see that the reversal is approved on your POS, but the cardholder’s account is still debited, here’s what you can do:
- Tell the cardholder to get in touch with their bank to fix the problem. They can contact their bank’s customer care or go to a branch for assistance.
- Make sure to complete the entire reversal process before removing the card from the POS. This is important because prematurely pulling out the card can cause issues with reading it or accessing its associated account details.