The Top 5 POS Terminals in Nigeria: Which One Is Right for Your Business?

If you run a small or medium-sized business in Nigeria, you're likely familiar with the importance of having a reliable POS (point of sale) terminal. These devices allow you to process transactions quickly and securely, accepting various forms of payment including credit/debit cards, mobile payments, and even cryptocurrencies.

But with so many POS terminals on the market, how do you choose the best one for your specific needs? In this post, we'll highlight the top 5 POS terminals available in Nigeria, examining their features, pricing, and overall user experience.

1. Gtbank Naira MasterCard POS

GTBank's Naira MasterCard POS is a popular option for Nigerian businesses, offering both offline and online transaction processing. The device is compatible with all Mastercard and Visa cards, and comes with a variety of security features including PIN protection and 3D secure authentication. Additionally, the bank offers 24/7 customer support and a user-friendly interface.

Pricing: GTBank charges a one-time fee of N75,000 for setting up the terminal, with no additional monthly fees.

2. Paystack POS

Paystack is another popular choice amongst Nigerian business owners, known for its easy setup and affordable pricing. The device is compatible with all major payment methods, including bank transfers and mobile wallets, and offers a fast transaction processing time. In addition, Paystack provides real-time analytics and fraud prevention tools to prevent chargebacks and other security threats.

Pricing: Paystack offers a variety of pricing plans ranging from N9,000 to N60,000 per month, depending on the number of transactions processed.

3. Paga POS

Paga is a Nigerian fintech company that offers both mobile and desktop POS solutions for businesses. Their POS terminal accepts all major cards and payment apps, and allows for easy refunds and chargebacks. Paga also offers easy integration with accounting software, making it a popular choice for businesses that need to keep track of their finances.

Pricing: Paga's POS device has no setup fee, with transaction fees ranging from 1.5% to 2.5%.

4. First Bank POS

First Bank is one of Nigeria's largest banks, offering a range of financial services including a POS terminal for businesses. The device allows for seamless transaction processing, with support for debit/credit cards, mobile wallets, and even QR code payments. First Bank's POS terminal comes with a variety of security features, including EMV chip technology and real-time fraud monitoring.

Pricing: First Bank charges a one-time setup fee of N100,000, with monthly fees ranging from N5,000 to N10,000 depending on the number of transactions processed.

5. Moneris POS

Moneris is a Canadian-based payment processing company that offers a POS terminal solution for Nigerian businesses. The device boasts a user-friendly interface and quick transaction speeds, with support for credit/debit cards and mobile payments. Moneris also offers 24/7 customer support and fraud prevention tools to keep your business safe.

Pricing: Moneris charges a one-time setup fee of N50,000, with transaction fees ranging from 2% to 3.5%.

Conclusion

Ultimately, choosing the right POS terminal for your business depends on a variety of factors, including transaction volume, budget, and preferred features. By utilizing the information provided in this post, you can make an informed decision and find the POS terminal that works best for your specific needs.