Palmpay POS Charges, Daily Target, POS Machine Price: How to get Palmpay POS

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Stop scrolling! Here is all you need to know about Palmpay POS Charges, Daily Target, POS Machine Price: How to get Palmpay POS

Currently, the POS business is highly profitable in Nigeria due to the availability of POS devices from almost all banks and fintech companies, allowing individuals to earn money. Many Nigerians choose this business because it requires minimal capital to start and maintain.

Also, setting up a POS business is simple as a large shop space is not necessary for starting up and it can be combined with other businesses without significant stress

Nigerian bank ATMs have not met the withdrawal demands of individuals requiring easy access to their funds.

PalmPay is a financial technology company that offers a range of services, including the PalmPay POS machine.

The POS machine allows businesses and individuals to perform transactions such as cash withdrawals, funds transfers, TV subscriptions, utility bill payments, airtime and data subscriptions, and checking customer account balances.

In this article, we will discuss everything you need to know about the Palmpay POS Charges, Daily Target, POS Machine Price: How to get Palmpay POS

Why People Use Palmpay POS

PalmPay POS is a great option as it offers a range of impressive features, including:

Simple to meet daily targets
Effortless cash withdrawals
Unlimited fund transfers
TV subscription services
Affordable PalmPay POS pricing
Payment of utility bills
Airtime and data subscriptions
Capability to check customer account balances

Also, with PalmPay POS you have various transaction options, including:

Cash withdrawals
Funds transfers
TV subscriptions
Utility bill payments
Airtime and data subscriptions
Checking customer account balances

In addition, If you use your PalmPay POS machine to sell airtime and TV subscriptions to customers, you can earn commissions as follows:

MTN: 3%
Glo: 4%
9mobile: 4.5%
Airtel: 4%
DSTV: 2%
GOTV: 2%

PalmPay POS Machine Price

Before we go ahead to discuss the prices of Palmpay POS, there are two Types of PalmPay POS:

Traditional POS – although old-fashioned, it still gets the job done and has the same transaction charges as the Android POS.
Full Android POS – comes with a user-friendly interface and fully-functional Android features.

Both POS types differ in price, but have the same transaction charges.

They also have printers to produce transaction receipts for your customers.

Traditional PalmPay POS: 20,000 naira
Android POS: 30,000 naira

Please note that this fee is refundable, and is not the actual price of purchasing a PalmPay POS machine.

However, If you decide to discontinue the POS business or obtain a different machine elsewhere, you can return the PalmPay POS and receive a refund, provided the machine remains undamaged.

Requirements for Getting PalmPay POS

To get started with PalmPay in Nigeria, you’ll need the following documents and information:

A government-issued ID card, such as an international passport, voter card, or national ID card.
A PHCN bill to verify your address.
CAC documents if your business is registered.
Your BVN.
Your bank account number.
A passport photograph.

You’ll also need to provide the following personal information:

Your first and last name
Your date of birth
Your gender
Your phone number (very important)
Your email address
Your chosen username
Your address.

How to Get a PalmPay POS Machine

If you’re interested in get a PalmPay POS machine in Nigeria, follow these steps:

Create a PalmPay account.
Download the PalmPartner app from the Google Play Store for Android users or Apple App Store for iOS users.
Sign in to the PalmPartner app using your PalmPay login details or create a new account if you don’t have one.
Once you’re logged in, find the “Apply for POS” button and follow the instructions to apply for the POS machine.
Upgrade your account to the required tier in the settings section of the PalmPartner app.
After applying for the POS machine, wait for a response from PalmPay’s customer care representative.

How to Fund Your PalmPay POS

Your PalmPay account number is the phone number you used when creating your PalmPay account, without the first 0.

To fund your PalmPay account, you can transfer money through any bank app using your phone number as the bank account and PalmPay as the bank.

Alternatively, you can log in to the PalmPay app and fund your account directly from there, which is a more convenient option.

Deposits Charges and Commissions

Regardless of the deposited amount, PalmPay charges a flat fee of 10 naira for transfers.

This means that if you’re transferring 100,000 naira on behalf of a customer, you’ll still be charged 10 naira.

Transfer Limits

PalmPay accounts have three tiers (Tier 1, Tier 2, and Tier 3), and you can upgrade to the next level.

Here are the daily transaction limits and account balance limits for each tier:

Tier 1: Daily transaction limit of 50,000 naira and an account balance limit of 300,000 naira.
Tier 2: Daily transaction limit of 200,000 naira and an account balance limit of 500,000 naira.
Tier 3: Daily transaction limit of 1 million naira and an account balance limit of 5 million naira.

Conclusion on Palmpay POS Charges, Daily Target, POS Machine Price: How to get Palmpay POS

The PalmPay POS machine is a secure tool that offers a range of financial services, making it a valuable asset for businesses and individuals in Nigeria.

With its competitive fees, and commission structure for airtime and TV subscriptions, the PalmPay POS machine provides a seamless and efficient way to manage your finances.

By following the steps outlined in this article on Palmpay POS Charges, Daily Target, POS Machine Price: How to get Palmpay POS, you can get a PalmPay POS machine and start enjoying the benefits of hassle-free financial transactions.

Whether you’re a business owner or an individual looking for a convenient way to manage your finances, the PalmPay POS machine is an excellent choice.

FAQs

What are the charges for using the PalmPay POS machine?

PalmPay charges a flat fee of 10 naira for transfers regardless of the deposited amount.

However, if you sell airtime and TV subscriptions through your PalmPay POS machine, you can earn commissions ranging from 2% to 4.5%, depending on the service provider.

What is the daily transaction limit for PalmPay accounts?

PalmPay accounts have three tiers (Tier 1, Tier 2, and Tier 3), each with different daily transaction limits and account balance limits.

The daily transaction limit for Tier 1 is 50,000 naira, while Tier 2 has a limit of 200,000 naira, and Tier 3 has a limit of 1 million naira.

How do I obtain a PalmPay POS machine in Nigeria?

To obtain a PalmPay POS machine in Nigeria, you need to create a PalmPay account, download the PalmPartner app, and apply for the POS machine in the app.

You’ll also need to upgrade your account to the required tier and wait for a response from PalmPay’s customer care representative.

What documents do I need to get started with PalmPay?

To get started with PalmPay, you’ll need a government-issued ID card, a PHCN bill to verify your address, CAC documents if your business is registered, your BVN and bank account number, and a passport photograph.

You’ll also need to provide personal information such as your name, date of birth, gender, phone number, email address, username, and address.

What are the benefits of using the PalmPay POS machine?

The PalmPay POS machine offers convenience, security, and efficiency for businesses and individuals.

With the POS machine, you can perform various transactions, including cash withdrawals, funds transfers, bill payments, and airtime and data subscriptions.

Additionally, selling airtime and TV subscriptions through your POS machine can earn you commissions ranging from 2% to 4.5%.

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