Lesser Amounts Attract More Profits, POS Operator Discloses

By Uchenna Odo

The Point of Sale, also known as POS, is a business that gives profits, but its risk factors can be disheartening, an operator in Enugu said Friday.

Stanley Uzor, operating at Abakpa, also told Adadareporters that POS operators make more profits from customers that withdraw less amount of money.

He advised intending operators to learn the mechanisms of the business before venturing into it.

According to him, “Somebody can start it by registering at a POS agency after which a licence for the POS is granted.

“There are many companies that you can register with, such as Money Point, Opay, Cuda, and banks.

“For Money Point, it is free to get an account. Opay is N65,000 for androids and analogue is N 40,000.

“If it is banks, they will sign an account for deposit paying. After months of testing your abilities with proper verification, a POS licence will be given to you.

“It is a good business for a beginner if the person will be meticulous. How the person makes profits depends on the number of the persons that patronises you in a day.

“If you do a transaction of N1,000, your charge should be N100. The company will take its own, and you take N40, depend on the company. The higher the transaction amount, the lesser the profits. Small amount of transactions pays better.”

He advised operators to avoid accepting cash transfers from customers, except those they trust. According to him, “Use ATM if you don’t know the person because the person may have picked somebody’s phone and unlocked the pin.

“If traced to you, you will be the person at the receiving end. Many operators have passed through such ordeals innocently. Some are being prosecuted.”

Adadainfo Adadareporters.com is an online newspaper reporting Nigerian news. Email: adadainfo1@gmail.com Phone: 08071790941

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