If you’re interested in the PalmPay POS business, just take a sit and gently explore this post, for it contains everything from the PalmPay POS machine price and how to get PalmPay POS, to how to operate PalmPay POS, how to make money from it and lots more.
Just like OPay, Moniepoint, Area Konnect, and a host of other fintech outfits, Palmpay offers a lot of goodies as you provide these mini-bank services to your immediate environment. The Chinese owners of Palmpay are also the owners of Palm Credit and Eazybuy. With this job, your work time is flexible and there’s no cap to the income you can generate on a monthly basis.
When you become a PalmPay merchant, you’ll be able to render services such as withdrawals, cash deposits, transfers, bill payments, data, and airtime purchases, etc. And the cool thing is that you’ll earn money while performing all these transactions.
Below is an easy-to-follow, step-by-step guide on how to get the PalmPay POS machine in 2023.
- Download the PalmPay POS app (PalmPartner) from Play Store or App Store.
- After downloading and installing the app, sign in with your PalmPay login information. You can create a new account if you don’t have one already.
- Once logged in, on your dashboard find the “PalmPay POS option and click on the “Apply Now” button.
- You’ll be asked to upgrade your account. If your account is not yet upgraded, you can upgrade it with your BVN and continue.
- Now, complete the application process and wait for a PalmPay customer care representative to get back to you.
- You’ll be asked some questions by the representative, and if you qualified, your application will be approved.
- Finally, your POS machine will be sent to you within a few days after paying the cautionary fee.
Types Of PalmPay POS Machine
PalmPay offers two types of POS machine options for applicants to choose from while registering as a merchant.
Here are the two types of PalmPay POS machines.
- Traditional POS: This is a regular or as I like to call it “Old-fashion” type of POS machine that can be used to carry out financial transactions that all POS types can do.
- Android POS: This is the new-fashion type of POS that has an Android interface, and can be operated just like an Android phone. It also carries out financial transactions that all other POS types do.
What are the requirements to apply for a Palmpay POS in Nigeria?
Here are the things you need to apply for a POS on PalmPartner:
- Agents must be familiar with the transaction patterns and user interface of the app. So, you must be able to perform multiple transactions using the PalmPartner app
- A physical space that isn’t close to other Palmpay agents
- A valid identification document e.g. international passport, voter’s card, NIN, or driver’s license
- Utility bills e.g light bill, water bill, waste bill, rent receipt, and so on
- Valid account number
How to Request a PalmPay POS Machine?
To successfully request for Palmpay POS machine, you need to start by downloading the necessary application software into your phone.
- Download PalmPartner from iOS or Android Playstore
- Complete the application form in the app
- Agree to the terms and conditions
- Upload the required documents
- Sit back and expect a call from the PalmPay team (within 7 days)
PalmPay POS Machine FAQs
PalmPay is licensed by the Central Bank of Nigeria to receive your deposits and carry out other financial businesses. So yes, PalmPay is safe.
As a PalmPay agent or merchant, all withdrawals attract a charge of 0.5%. That simply means when you make a withdrawal transaction of ₦1,000, you’ll be charged ₦5 as a service fee.
Unlike the withdrawal charges that are calculated in percentage, the PalmPay POS transfer charges are fixed. Regardless of the amount of money you want to deposit, you’ll be charged ₦10 for the transaction. That simply means whether it is ₦100 you’re depositing or ₦10,000, ₦10 is the fixed service fee that will be charged.
No minimum float balance is required as a merchant.
Unlike other POS services that pay commissions on a monthly basis, your PalmPay commission is paid weekly.
More commissions are earned on bill payments.
PalmPay transactions fee is very low, and beginner friendly.
Incentives are earned on performance. That means when you reach a milestone, you’ll earn some monetary bonuses.
Your space or business location/center is branded for you using PalmPay banners, flyers, and so on. It is all for free.
You can get the PalmPay POS machine by simply downloading the PalmPartner app, creating or signing into your account, and then clicking on the “Apply Now” button in the PalmPay POS option.
The PalmPay android POS cost 30,000 Naira (₦30,000) as a cautionary fee, and it cost around ₦60,000 to get it outright.
Airtime top-up – 3% of the amount
N10 only for bank transfers (any amount)
Bill payments are done for FREE. You are then at liberty to charge your customers what you wish.
N200 for each successful referral