PalmPay POS Review: Is It A Good Option?

POS is fast becoming one of the most popular businesses in Nigeria.

So many Nigerians are delving into this business because it is easily accessible, lucrative and can be operated alongside other enterprises.

The business allows people to have a mini banking system within their environment. There are several POS machines such as Opay, Moniepoint, Paga, Kuda, Paycenter, Baxi Box and others, but we will review the Palmplay POS. 

What Is Palmplay POS?

The Palmplay POS is one of Nigeria\’s most popular agent banking businesses. It offers mini banking services such as transfer of funds, cash withdrawal, utility payments and other transactions.

Why Use Palmplay POS 

There are several reasons why you should opt for a Palmplay POS machine. They include:

• Offers easy withdrawal and transfer of cash 
• Available in two types, traditional and android
• Affordable priced 
• Commissions are paid weekly 

Features Of Palmplay POS

Features of Palmplay POS include:

• Settling utility bills 
•  Airtime and data subscription
• Check customers\’ account balance 
• Tv subscription

Palmplay POS types

Palmplay POS machines are of two types, traditional and android. While the Palmplay android POS offers capabilities unique to android, the Palmplay traditional POS is very antiquated. 

Customers can receive transaction receipts from both Palmplay POS types, which incur the same cost for each transaction.

The only distinction is the cost of acquiring both POS machines. For outright acquisition, the traditional POS machine costs #40, 000 while the android POS machine costs #60,000.

For rent, the traditional POS costs #20,000 while the android POS costs #30,000.

How To Get A Palmplay POS Machine

Below is the process involved in getting a Palmplay POS Machine: 

• Get the Palmplay app on the play store or the apple app for IOS users 
• After installing the application, register with the Palmplay partner  
• Apply for the POS machine once you\’ve logged in
• Before continuing, you must upgrade your account
• After completing that, finish the application by following the instructions stated.
• Accept the terms and conditions
• Provide the required documents 
• Finally, wait until Palmplay responds, which should take a month or two.

Requirements Needed To Get A Palmplay POS Machine In Nigeria

Requirements needed are:

• A valid form of identification such as a National Identification Number (NIN), driver\’s license or voter\’s card.
• Personal information such as name, username, date of birth, email address, phone number, and gender. 
• Your Bank Verification Number(BVN) 
• CAC certificate for a registered business.
• An authentic account number 
• Passport 
• Utility invoices (rent receipts, NEPA, water and so on).
• A location without another Palmplay POS setup. 

Alternatively, suppose you don\’t want to go through the online process. In that case, you can go to Palmplay\’s location at 20 Opebi Road, Ikeja, Lagos. 

Palmplay POS Charges list

On withdrawals between #1000 and #19,999, Palmpay levies a 0.5% fee. For transactions above #20, 000 Palmplay charges 100 naira while transactions to other banks costs #10.

Palmplay POS Charges list are:

• 1000 naira fees _5 naira 
• 2000 naira fees _10naira 
• 3000 naira fees _15naira 
• 4000 naira fees _20naira 
• 5000 naira fees _ 25naira 
• 6000 naira fees _30 naira 
• 7000 naira fees _ 35 naira
• 8000 naira fees _40naira 
• 9000 naira fees _45naira 
• 10, 000 naira fees _50naira 
• 11, 000 naira fees _55naira 
• 12, 000naira fees _60naira. 
• 13, 000 naira fees _ 65naira
• 14, 000 naira fees _70naira 
• 15, 000 naira fees _75naira 
• 16,000 naira fees _80naira 
• 17,000 naira fees _85naira 
• 18,000 naira fees _90naira 
• 19,000 naira fees _95naira 
• 20,000 naira fees _100naira.

How Much Can You Transact Daily On Palmplay POS Machine?

The three parts of Palmplay \’s daily transaction are as follows:

• Tier one is limited to the daily transactions of 50,000
• Tier two is limited to the daily transactions of 200,000 naira.
• Tier three is limited to daily transactions of 3 million. 

How To Contact The Staff At Palmplay Nigeria

Contact the Palmplay staff by calling 017005700 or sending an email to support@palmpay.com. Visit their head office in Nigeria at 20 Opebi Road Ikeja, Lagos, if you want to communicate in person.

Conclusion

Palmplay should be one of the POS machines to consider if you\’re planning to launch a POS business in Nigeria.  Its easily accessible, less expensive, profitable, and offers seamless cash withdrawal and transfer services.