Yes, FairMoney has a POS machine and the terminal works exactly like Moniepoint and OPAY POS terminal in Nigeria. The FairMoney POS Machine, otherwise known as Payforce POS, is designed to empower small and medium-sized businesses (SMEs) by providing efficient payment processing tools and additional income opportunities.
Payforce by FairMoney has been rebranded to FairMoney Business. This helps FairMoney to not only base on digital bank services and offerings of online loans, it also let the fintech company to diversify its business model by offering a point-of-sale (POS) solution through its rebranded platform, FairMoney Business (formerly Payforce).
FairMoney acquired Payforce in 2023 to strengthen its position in the digital payment market and support Africa’s growing SME sector. This initiative aligns with its mission of bridging the financial inclusion gap in underserved markets. This is a big opportunity for small business owners and entrepreneurs across all industries.
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| FairMoney POS Machine/Terminal |
FairMoney POS Machine
The FairMoney POS Machine is a payment terminal that accepts all debit cards for withdrawal and check of account balance. The POS terminal can also be used to carry out inter-bank transfers within Nigeria and do bill payments of all kinds.
Whether you just want to start a POS business or you’re a retail store looking for payment terminal to accept payment from your customers, the Payforce by FairMoney POS machine simplifies payments at all costs.
With Payforce POS terminal, FairMoney aims to onboard over 100,000 merchants across Nigeria. The POS devices are user-friendly, easy-to-use and durable; you can run your businesses smoothly without worrying about technical issues or downtime.
The FairMoney Business POS also supports multiple payment methods including ATM cards, mobile payments transfer and QR code payments. These make the POS terminal suitable for in-store retailers that offer services to different customers with various preferences.
The Key Features of FairMoney POS Machines Are;
- Instant payment processing
- Instant working capital directly from FairMoney.
- Business tools such as history and analytics.
- Extra income opportunities.
- Merchant network expansion.
- Easy-to-operate devices.
- Accept various kind of payment options including Debit cards and cardless withdrawal.
- Security and Integration.
- 24/7 hand-on-desk customer care service.
Requirements to Get FairMoney POS
Here are the requirements and criteria to request the FairMoney POS Machine:
- Have a FairMoney Business Account.
- Be at least 18-years and be a Nigerian.
- National means of Identification to verify your KYC.
- BVN/NIN
- Valid Phone Number and Email Address.
- Acquisition cost of N250,000.
- CAC certificate of business registration.
- Physical business address.
How to Get FairMoney POS Machine
The Fairmoney Business POS machine cost N25,000 to purchase and N2000 delivery fee. And getting it only requires you to have a FairMoney business account and verify your KYC.
Follow these steps to buy a FairMoney POS Machine:
- Create a FairMoney Business Account. To register an account visit https://www.payforce.network/. You can also download the FairMoney Business App on Google Play Store for Androids or Apple App Store for iPhone to create an account.
- Verify your FairMoney Business Account. The documents required to verify your KYC are valid government-issued ID card, your bank verification number (BVN) and certificate of registered business name. Fairmoney can handle that for you if you don’t have a registered business yet.
- Next, request a POS machine. You will need to submit an application on your FairMoney Business Dashboard. The POS machine will cost your N250,000 only without daily target imposed and a logistics fee of N2000.
The application may take two business days to get approval, but once it’s approved, the POS device will be delivered to your business address within seven days.
FAQs
Does FairMoney Have POS Machine?
Yes, FairMoney is offering a point-of-sale (POS) machines to agents and merchants in Nigeria. The POS is called "Payforce by FairMoney". The POS offering started in 2023 when FairMoney acquired Payforce company.
How to use FairMoney POS Machine?
You can use the FairMoney POS terminal to collect payment, perform debit card withdrawal, carry out cardless payment, pay bills, buy data and airtime and perform Qr payment. It's widely used in-store, rural area to provide financial services and at resturants to collect payments from customers.
Can FairMoney come to my House in Nigeria?
Yes, FairMoney can go to your house in Nigeria based on two conditions; if you are defaulting your loans and if they want to deliver the POS terminal you've ordered.
How Much Is FairMoney POS Machine?
The FairMoney Business POS machine cost N24,0000 plus N2,000 delivery fee, making N26,000 in total. It is a one-time payment and the POS device is yours.
