How to get an OPay POS machine? A Comprehensive Guide 2024

OPay has become a key player in Nigeria's digital payment scene, making transactions easier for individuals and businesses. It offers an easy-to-use platform, cashless payments, and OPay loans. 

Getting an OPay POS machine can be a game changer for businesses. It streamlines payment processing, boosts customer satisfaction, and improves efficiency. 

How do you get an OPay POS machine? This guide will walk you through the steps to get an OPay POS machine in 2024. Read till the end. 

Types of OPay POS machines

OPay offers different types of POS machines to cater to various business needs. Let’s discuss them in detail. 

Smart (Android) POS

Below are the features of the OPay Smart POS:

• Operates on an Android system.
• Supports card payments, mobile wallets, and QR code scanning.
• Provide quick and efficient transactions. 
• Smart POS machine is priced around ₦50,000. 

Traditional POS

The Traditional OPay POS is a more basic model. Below are the main features:

• Primarily focuses on card transactions. 
• User-friendly. 
• Ideal for businesses that require a straightforward payment solution. 
• Traditional OPay POS machine is approximately ₦35,000 making it an affordable option for many small to medium-sized enterprises.

Mini POS

Mini POS is another type of OPay machine designed for mobility. Here are its features:

• Portable. 
• Easy to use. 
• Perfect for businesses that operate in various locations or require a compact solution. 
• The Mini POS is priced around ₦8,500, making it an economical choice for entrepreneurs looking to enhance their payment capabilities without significant investment.

If you’ve decided on the type of OPay machine you need, let’s explore whether you’re eligible to purchase the machine. 

Eligibility Criteria for Acquiring an Opay POS Machine

To apply for an Opay POS machine, you must meet the following eligibility criteria:

• Active Opay account: You must have an active Opay account registered in your name. If you don't have one, you can easily create an account through the Opay mobile app or website. 
• Valid bank account and BVN: Provide a valid bank account linked to your Opay account and a Bank Verification Number (BVN) for identification purposes.
• Identification documents: Submit a valid government-issued ID, such as a national ID card, driver's license, or international passport, to verify your identity.
• Recent utility bill: Provide a recent utility bill (e.g., electricity, water, or internet) as proof of your business address.
• Registered business: You must own a registered business in Nigeria. Opay requires a valid business registration certificate or CAC certificate to process your application.
• Completed KYC (Know Your Customer) process: Ensure that your Opay account has completed the KYC process to the highest level, typically KYC level 3. You must provide additional documents like a passport photograph and a selfie to reach this level. 

Application Process for Opay POS Machine

You must complete an application process to get an OPay POS machine. Here’s how you do it:

1. Download the OPay Business App: Begin by downloading the OPay Business app from the Google Play Store or Apple App Store. The app is free and you can manage all your business transactions here. 

1. Fill Out the Application Form: Open the app and create an account if you haven’t already. Go to the Merchant section and locate the POS application form. Fill in the required details accurately, including your business information and contact details.
2. Submit Required Documents: Upload the necessary documents, including your identification (government-issued ID), recent utility bill, bank account details, BVN, and business registration certificate. Ensure all documents are clear and legible.
3. Payment of Caution Fee: After submitting your application, you must pay a caution fee.  The amount varies depending on the type of POS machine you are applying for. This fee is typically refundable upon the return of the machine in good condition.
4. Approval Timeline: Once your application is submitted, OPay will review it. The approval process usually takes between 3 to 7 business days. You will receive a notification regarding the status of your application through the app.

Is there any other way to apply for an OPay machine other than the app? Keep reading to find out. 

Alternative methods to apply for an OPay POS machine

1. Visit your nearest OPay branch or office
2. Request an OPay POS application form from the customer service desk
3. Fill out the form with your business and contact details
4. Submit the completed form along with the required documents
5. Provide a valid means of identification such as a driver's license or national ID
6. Await OPay's review of your application
7. Once approved, you will be contacted to collect the POS machine and receive training. 

You can apply for an OPay POS machine via the website or visit the OPay branch too. 

Below are the steps you must follow:

Applying via the OPay Website

1. Visit the OPay website and navigate to the POS section
2. Fill out the application form with accurate business details and contact information
3. Submit the completed form online
4. Provide any additional documents requested by OPay to verify your application
5. Wait for OPay to review your application and contact you for further processing
6. Once approved, an OPay representative will install the POS machine and provide training

Applying in Person at an OPay Branch

Note: Regardless of the application method, ensure you meet the eligibility criteria, which include having an active OPay account, a valid bank account, BVN, and a registered business. Providing accurate information and the necessary documents will help expedite the approval process.

Suppose your application for the OPay POS machine is successful, what happens next? Where can you learn to operate the machine? Read the next section for answers. 

Training sessions for new OPay users

OPay has different methods to provide training for new OPay POS machine users. This is to cater to various learning styles. 

• Online courses and videos: OPay offers short, focused video tutorials (2 minutes or less) covering specific activities like processing sales, refunds, shift start/end, and business-specific functions.
• Manuals and guides: Step-by-step written guides are provided for reference.
• Hands-on practice: New users get to practice using the POS system themselves under supervision

Generally, the training covers the following:

• Basic POS operations: How to process sales, refunds, manage inventory, discounts, loyalty programs, etc. Tailored to the user's specific business type.
• Exception handling: A checklist of who to contact for different error scenarios to build confidence.
• Real-life scenarios: Training exercises that simulate situations users may encounter in real-world use of the POS

Benefits of Using Opay POS Machines

OPay POS machines offer a wide range of benefits that can significantly enhance business operations. Here are some key advantages:

• Portable and Durable OPay POS machines are designed for portability and durability, making them suitable for various environments, including markets, shops, and events. Their robust construction ensures they can withstand frequent use, minimizing maintenance costs and downtime.
• Versatile Services These POS terminals provide a comprehensive suite of services, including secure cash withdrawals, deposits, airtime and data top-ups, utility bill payments, and mobile banking transactions. This versatility enables businesses to cater to diverse customer needs, attracting more clientele.
• Instant Settlements With OPay POS machines, businesses benefit from quick settlements, allowing funds to be accessible immediately after transactions. This feature improves cash flow, enabling businesses to meet financial obligations promptly while enhancing customer satisfaction through faster service.
• Competitive Rates OPay offers competitive transaction rates, which can help businesses reduce operational costs. Lower fees mean increased profit margins, making OPay POS machines an economical choice for businesses of all sizes.
• Easy Acquisition The application process for obtaining an OPay POS machine is straightforward and does not require a corporate account or extensive documentation. This ease of access allows more businesses to adopt cashless payment solutions quickly.

In Summary

OPay offers a comprehensive suite of services that address the diverse needs of both individuals and businesses. By leveraging technology and ensuring security through regulatory compliance, the OPay POS machine facilitates everyday transactions. 

You can apply for an OPay POS machine through the OPay app, or website, or by visiting a nearby agent. If you face any issues during the application process, contact OPay. 

FAQs

1. How much does it cost to get an OPay POS machine?

You must pay N50,000 for Opay Smart POS, N35,000 for Opay Traditional POS, and N8,500 for Opay Mini POS. 

2. What documents do I need to apply for an OPay POS machine?

You need a valid ID, business registration certificate, a bank statement for the past 3 months, and possibly additional documents such as utility bills and a passport photograph to apply for a POS machine. 

3. Is there a daily target for transactions on an Opay POS machine?

Generally, Opay POS machines do not have a daily target, but you can check with the Opay agent handling your application to confirm.

4. How do I maintain or troubleshoot my Opay POS machine?

Regularly update your OPay  POS machine and handle it properly to maintain the machine. If you face any issues when using the machine, refer to the manual for guidance or contact OPay support for assistance.