How to apply for OPay POS in Nigeria 2023

Opay POS machines are one of the most popular payment processors in Nigeria. They were first introduced to the Nigerian market in 2010. Since then, Opay has become one of the most widely-used payment processors for merchants and consumers. Opay POS machines are very reliable, easy to use, and offer different features that make them highly convenient for businesses in Nigeria.

As an OPay agent, you are handed an opportunity to become a “mini-bank” for your immediate neighborhood. OPay, as described in another article, is a fast-rising Fintech company in Nigeria. They are leading in many areas, and agency banking is one of them. Later, you can go over the OPay Agent guide. This article is a guide on how you, an Opay agent, can get/apply a POS (Point of Sales) terminal for withdrawal, transfer, deposit, and so on in Nigeria. With this, you can generate more income as an agent in your neighborhood.

Applying for Opay POS in Nigeria is quite simple. You can apply for a POS from the Opay mobile application or via their website. You will need to register your business or brand on the Opay platform and fill in the required information.

Once you have installed the software, you can accept payments via Opay. Here is a step-by-step guide on how to apply for Opay POS.

  1. Download and install the Opay Business app on your phone.
  2. If you already have an Opay account that you opened using the regular Opay app, you may skip the above step.
  3. If you already have an account, you must select “Merchant” from the Opay Business app login page.
  4. Next, log in using your credentials, such as your phone number and password.
  5. Once logged in, click on the “My POS” tab icon.
  6. Find the “Apply for POS” tab icon and click on it.
  7. You will be directed to a page where you will select the type of POS machine you want to apply for and where you will pick up the machine.
  8. Once you have selected your preferences, tap on the “Next” tab.
  9. Next, provide your last two-three months’ bank statements and one or two emergency contacts. The requirements will depend on the type of POS machine you are applying for.
  10. To finish this step, tap on the “submit” tab to submit the data.
  11. Once you submit, you will be required to pay the caution fee and provide other necessary details about you, such as a photo of a valid government ID and a photo of your shop where you will be using the POS machine.
  12. After you have submitted all the documents and met the requirements, its agents will take up to one week to review your application. The approval mostly depends on the amount and number of transactions on your bank statement report. If your application goes through, you’ll receive a notification through a text message, phone call, or email address.

How to Request an OPay POS Machine?

The first ever step is to download the OPay App into your device

Sign in to your profile

Upgrade KYC to Level 3

To upgrade your OPay Profile to KYC Level 3, follow the following steps:

  • Go to ‘Me’
  • Click the picture icon (top left) to go to Account Details
  • Click Upgrade to Level 3
  • Upload your picture
  • Upload a valid ID Card (Intl Passport, Voters’ Card, National ID, or Driver’s License)
  • Upload a recent utility bill (PHCN bill, water bill, rent receipt, LAWMA waste bill)
  • Upload your BVN
  • Submit

It takes 24-72 hours for OPay Team to review and approve/decline your KYC. You will get email and SMS notifications once your KYC is approved.

Switch Profile to Merchant

Once the profile is upgraded to KYC 3, follow the following guidelines to switch your profile to Merchant:

  • Go to ‘Me’
  • Click the picture icon (top left) to go to Account Details
  • Click Upgrade to Merchant
  • Fill in your Business Information (Name of business, address, etc) and click Next
  • Fill in the required information
  • Click Upgrade

The Opay Team has to review and approve/decline your request

Merchant Apply

Once you have upgraded to KYC level 3 and you have switched your OPay profile to Merchant, you can now go to ‘Merchant Apply’.

Below is a simplified process flow on how to successfully go to ‘Merchant Apply’ and request or apply for an OPay POS Machine in Nigeria.

  • Log in to the OPay app on your device.
  • Choose the ‘Merchant Apply’ icon
  • On the next page, enter all necessary information as requested
  • Upload your transaction history for the past 3 months
  • Upload a valid ID Card (Intl Passport, Voters’ Card, National ID, or Driver’s License)
  • Take a snapshot of your business station and upload it to the portal
  • Submit for review

FAQs on getting your OPay POS in Nigeria

How do I become an Opay merchant?

To become an Opay merchant, you must create an Opay account, and its team must approve your store. To get started, head to the Opay website and create your account. Once your account is ready, you can fill out your store information and all the necessary details.

How does the Opay business work?

You can register on Opay to get your wallet and then use the money inside it for online shopping or even offline stores. You can also link your bank account or credit card to it to get cash withdrawals or transfer money directly. You can also top up your account by transferring money from any other bank or remittance provider.

Which bank does Opay use?

Opay uses Blue Ridge Microfinance Bank to allow customers easily access its financial services using their phones. It facilitates quick and easy financial transactions for customers. Some of the services offered by Opay include online banking, bill payments, and money transfer. Customers can conveniently use the platform to pay for goods and services at partner merchants.

How do Opay agents make money?

Opay agents make money by charging a commission on every transaction completed through their platform. This commission fee varies depending on the type of service that the user is looking to use, as well as on the amount that is being transacted.

How Much to Apply for an OPay POS Machine in Nigeria?

The OPay POS application is free. Although, the latest official POS prices for OPay POS machines are N50,000 for OPay Smart POS, N35,000 for OPay Traditional POS, and N8,500 for OPay Mini POS.

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