How to Start Opay POS Business Step by Step process
Hello and welcome, if you want to know how to start opay pos business, then you are in the right place, because in this post, I am going to show you step by step how to start a pos business with opay in Nigeria
Many people are interested in the opay business but they lack the necessary steps to begin with it, however, in this article, I will walk you through all the necessary steps you need to take in order to start a successful pos business with opay
Just in case you don’t know what opay is, opay is a payment service and also the first cashback wallet in Nigeria, users can send and receive payments across the continent, buy airtime, pay for bills and lot more, another great thing with opay app is that, you can also request for a pos terminal and open a pos point anywhere you are.
You can also make money with opay refer and earn option, start referring people to the service and make money each time you invite a new customer to the platform, opay pays you from N300 to N550 naira for each person you refer to them
You should also read how to access opay loan if you're interested in taking easy loans
But in this article, I will focus on showing you how to start a pos business with opay, so without wasting time, lets dive right into todays guide
How much does it cost to start opay pos business?
Starting a pos business with opay in Nigeria will cost you anywhere from N400,000 to about N600,000 depending on the things you already have at hand and the ones you don’t have, the opay pos machine will cost about N50,000, the startup capital can start from N200,000 and then the apartment you will use to run the pos business can be N50,000 to N120,000, if you want to hire a worker, the salary can cost from N10,000 to N20,000 based on your agreements, so that is a total of N310,000.
Starting a pos business is not that expensive, and it can also be very lucrative depending on the location where you launch your business, in many places, pos is rampant and if you are planning on opening a pos business in this type of place, make sure you also have another business going on
So that, your old customers can also do transactions with you, but if you are living in an area where a pos point is scarce, then you should give it a go, you also don’t want to mount your pos business near any ATM machine
Because, people will easily ignore your pos point for the ATM instead, so it is good if you already plan where to host your business before starting opay pos business.
How to start a pos business with opay
1. Download opay app
Before you can start opay pos business, you first need to download the opay app, don’t panic, it doesn’t cost anything to download the opay app, if you are using an android phone, you can go over to google play store and download it for free
When you open the playstore app, you should search for opay, you will see the app with 4.2 customer review, it has a green p logo, you are going to see other apps that look similar, but opay original app has 4.5 star customer review, so ignore the rest of the apps and download this one instead
And if you are using an IOS phone, you can get the opay app from apple app store, just search for opay, when it comes up you can start downloading the app immediately to your phone, it is very easy to do.
2. Sign up for opay merchant
You also need to sign up as opay merchant to be able to start a pos business with opay, there are other benefits to becoming an opay merchant, when you become an opay merchant, you will not be charged on wallet top up, unlimited discount on airtime recharge, no charge when you pay for electricity bills, no charge on cable tv, only ten naira when you transfer to any bank and also you will get 70% transaction fee on pos.
Signing up for opay merchant
And becoming opay merchant is easy, you should go over opayweb.com/merchants and click on create an online merchant account, next you will be asked to fill submit your mobile number, your first and last name, your business name, email address and your password and then click create merchant account and you are all done.
When creating a password, make sure you choose a very strong password that no one can guess, in my opinion, you should mix up the characters in your password with both upper and lower case letters, numbers and symbols
These types of passwords are strong and very difficult for anyone to guess, but if you choose a weak password, when someone have access to your account, they can be able to send out the money in your opay account to any bank they wish and leave you with huge loss.
3. Rent an apartment to host your opay pos point
To run a pos business, you need to rent an apartment where you can start doing business on, when choosing an area to host your business, make sure it is a busy area where you can make customers on a regular basis
But avoid renting an apartment if it is near an ATM machine, because people will easily ignore your pos for the ATM, and also, make sure that there is no many people doing the same pos business in the location you are choosing
Another great thing you should pay attention to is your budget, if you are on a low budget, there is no need to rent a full apartment, you can rent a small area and renovate it to look nice, besides you don’t really need a large place for the business.
Renting a business apartment in Nigeria can cost you anywhere from 50 to 200 thousand naira, so make your plan and choose according to your budget.
4. Start doing your pos business
Now that you are done opening your POS point, you can start making customers and making money off the bat, when running your pos business, if you are hiring any worker, make sure you employ someone with good behavior as you don’t want them to treat your customers badly which will only lead to a bad customer review.
If you have the time to work, there is no need of hiring a worker, you can start by doing it yourself first and then later move on to hire someone to assist you in the business, but if you already have a business running, you can leave the pos business with your workers to handle
How to get the opay pos machine
Getting your opay POS machine is not as hard as you may be thinking, anyone with the opay app can do it
To get your opay pos machine, open your opay app, log in with your correct details, click on the more icon, click the my pos option, fill the required information, upload your bank statement for the last 3 months, upload your ID card, upload a picture of your business and you are good to go
After following these simple process, they will review your application and in a short time, they will contact you to visit a nearby pos center to collect your pos machine, it is as simple as that.
Final thoughts on starting opay pos business
So that’s all you need to know on how to start opay pos business in Nigeria, I hope you find this article helpful, and if you do, kindly share it with others on social media, and if you would like to be updated with this type of information, you can join our telegram channel here
Now follow the above steps carefully to start your own pos business with opay, it is very simple but yet, very lucrative
If you have any question regarding this post, I will be more than happy to help you out, so don’t hesitate to bring it to the table, thank you for stopping by and hope to see you around next time, have wonderful day.
