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If you are thinking of becoming a POS agent, or already run a business and want to accept card payments, knowing which POS (Point‑of‑Sale) company charges the least is very important. Lower POS charges mean you keep more profit. In 2025, many POS companies in Nigeria compete on how low their fees are. But “lowest” depends on many factors: withdrawal rates, commission, machine cost, transfer charges, etc. This article explains everything so you can pick the cheapest POS provider that works for you.

What Are POS Charges & Key Terms You Need to Know

Before comparing companies, you must understand the parts of POS charges and what they mean.

What Are POS Charges?

POS charges are what the POS provider (or bank) takes from you or from the transaction when you accept payments. They include:

• Transaction fees / commission: A % of the transaction, e.g. 0.3%, or a flat rate for certain range.

• Withdrawal / cash‑out fees: If your POS allows cash withdrawal, there may be a charge.

• Transfer / deposit fees: Moving money from POS wallet to bank account, or deposits.

• Machine / start‑up cost: The cost of obtaining the POS machine; might be purchase, rental or “caution fee” (refundable deposit).

• Flat fees vs percentage fees: Some providers charge e.g. N50 flat per transaction, others % based (e.g. 0.5% of amount).

What to Consider When Evaluating “Lowest” POS Charges

To decide which POS company has lowest charges for you, consider:

Transaction Volume & Type

• Are most transactions small (₦1,000 ‑ ₦20,000), or large? A provider that has low % on small transactions matters more if many small ones.

• If many transfers or withdrawals, those charges matter.

Flat vs Percentage Charges

• Percentage charges (e.g. 0.3%, 0.5%) scale with value. If you do ₦20,000 transaction, 0.5% is ₦100. A flat fee (e.g. ₦50) might be cheaper for many sizes.

Startup / Machine Cost (Caution Fee)

• Even if transaction fees are low, if you pay high for machine or high caution fee (deposit) or buy terminal, the overall cost rises.

• Some providers refund caution fee if machine is returned, or provide free POS under conditions.

Hidden Fees & Conditions

• Some providers have hidden or less publicized fees: minimum monthly fee, support costs, maintenance, or limits (only certain number of free transactions).

• Also some require you to maintain minimum transaction volume.

Settlement Time & Liquidity

• If POS provider takes long to settle (send funds to your bank), your cash stays with them, which is time cost. A provider with faster settlement is better.

 Location & Network Reach

• Some providers charge more in remote areas due to logistics or connectivity. So “lowest charge” may vary by where you are.

Top POS Companies in Nigeria with Lowest Charges (2025)

Based on current research (2025), here are POS providers who are known to offer low POS charges. I list them, their typical fee rates, machine costs, advantages and limitations. (Data drawn from multiple sources collected recently.)

Bankly POS

• Transaction (withdrawal) charge: ~ 0.3% for withdrawals under ₦20,000.

• Transfer / deposit charges: Flat ₦35 in many cases.

• Machine / startup / POS cost: Approximately ₦15,000 for machine.

• Advantages: Very low rate for withdrawals; low startup cost; refund of caution fee in some cases.

• Limitations: For large transactions, percents may still add up; maybe network or service coverage issues in some locations.

Moniepoint POS

• Typical withdrawal / transaction commission: ~ 0.5% for many amounts under ₦20,000.

• Flat / other charges: Transfers often ₦35, etc.

• Machine cost: Approx ₦20,000 or more; sometimes refundable caution fee.

• Advantages: Good brand reputation; reliable support; moderate rates.

• Limitations: Slightly higher % than lowest; caution fee or machine cost may be high for some.

OPay POS

• Charges: About 0.5% for many withdrawals below ₦20,000; flat fees for transfers; for larger amounts sometimes flat charge.

• Machine / startup cost: Traditional POS cost approx ₦45,000; mini POS less. Some providers use caution system.

• Advantages: Strong network; multiple POS models (mini, traditional, Android) gives choice; decent support.

• Limitations: For very small transactions, flat fees may eat more; higher startup cost for some models.

PalmPay POS

• Charges: ~ 0.5% for many withdrawals. Transfers/other services modest flat fees.

• Machine cost: ~ ₦30,000 etc.

• Advantages: Offers lower‑cost options, good device features; competitive.

• Limitations: Some fees for large amounts may still be higher; device cost or caution fee may be deterrent.

Baxi / Baxi Box POS

• Charges: Around 0.55% from ₦1,000‑₦20,000 in many instances.

• Flat fees for transfers etc.

• Machine cost: Varies by model; some cheaper options.

• Advantages: Wide agent network; good choices; established service.

• Limitations: Slightly higher percent; flat fees may be less clear; sometimes service or delivery cost high.

Kudi (Nomba) POS

• Charges: ~ 0.5%‑0.6% transactions in many cases. Transfer / withdrawal fee structures similar to others.

• Machine cost: ~ ₦20,000 etc.

• Advantages: Simplicity; decent pricing; brand trust.

• Limitations: Higher % than the very lowest; flat fee thresholds can make some transactions expensive.

Others (Kolomoni, PayForce, etc.)

• Kolomoni POS: Charges approx 0.5% on withdrawals; flat transfer or user fees.

• PayForce: Some rates: ~0.3% for certain withdrawals; machine cost ~ ₦25,000 etc.

How Do Bank POS Providers (e.g. Zenith, GTBank, Access) Compare?

There is less clear data publicly for bank‑issued POS (Zenith, Access, GTBank) in recent updated 2025 comparisons in many sources. Most public lists focus on fintech/pos companies rather than banks. However, some equivalent charges are reported.

• Many bank POS services charge around 0.75% per transaction as POS service charge in some listings: e.g. “Zenith Bank POS charges 0.75% per transaction.”

• Some banks’ agent POS programmes may have flat fees depending on transaction bracket. But often bank POS is higher in percent than lowest fintechs.

So for many merchants, fintech POS providers (Bankly, Moniepoint, OPay, etc.) offer lower charges than most bank POS providers in 2025.

Best POS Company with the Lowest Charges in 2025 — Which One?

Based on the data, Bankly POS appears to have the lowest overall POS charges in many scenarios, especially if you:

• do many small transactions under ₦20,000

• want low % fee on withdrawals

• want low flat fee for transfers

Bankly offers about 0.3% withdrawal charge under ₦20,000 and only ₦35 flat transfer fee in many cases.

Other providers like Moniepoint, OPay, PalmPay are close, but their rates are slightly higher (0.5% etc.), and their startup costs or machine costs may be higher.

Therefore, if you do many small transactions, Bankly is a top choice. But if your business is large, or you do mixed transaction sizes, another provider may be more cost‑efficient.

Examples & Scenarios: What POS Is Best Depending on Your Business

Here are example scenarios that show which POS provider may be cheapest depending on what kind of business you run.

Scenario 1 — Small Mobile Vendor / Market Stall (Many Small Transactions)

• Suppose you do 20 transactions per day, each ~ ₦5,000. Many days.

• Using Bankly: 0.3% of ₦5,000 = ₦15 per transaction. Over 20 transactions = ₦300. Transfer fees etc small. Startup cost low.

• Using Moniepoint: 0.5% of ₦5,000 = ₦25 per transaction → ₦500 per day. More cost.

• So Bankly saves more.

Scenario 2 — Medium Retail Shop (Mixed Transaction Sizes)

• Suppose some transactions are large: e.g. ₦50,000, ₦100,000 etc.

• Percentage fees may cost Bankly or others more. Flat fees (if provider uses flat above threshold) may become beneficial. For large values, check whether provider caps percent, or has different bracket.

Scenario 3 — Business Doing Few Big Transactions

• If a business has large, infrequent transactions (₦200,000 etc.), provider with flat fee or capped % above some amount may become cheapest. For example if after ₦20,000, many providers charge flat ₦100 or similar, that could be better than % for some others.

Pros & Cons of Picking Trul y Lowest‑Charge POS Company

While choosing the cheapest POS provider sounds obvious, there are trade‑offs. Here are pros and cons.

Pros

• Lower fees → more profit per transaction.

• For agents especially, small margin but high volume, low % is big saver.

• Lower startup cost means less capital required to begin.

• Less pressure to raise prices or charge customers extra.

Cons / What to Watch Out For

• Sometimes the lowest rates are offered under conditions (e.g. minimum transaction volumes, machine “float” requirements, or usage quotas). If you don’t meet them, you might lose benefits or be charged more.

• The support or reliability of service may be lower for some very cheap providers. If POS system fails frequently, or service is slow, downtime cost could override small savings.

• Hidden fees: bank charges, chargebacks, offline transaction charges, or device maintenance might cost extra.

• Machine quality or reliability might be inferior in very low‑cost providers.

• Settlement delay: funds might take longer to reach your bank account if provider tries to save on costs.

How to Compare POS Companies Yourself — Step by Step

If you are deciding, here is how to compare POS providers to find best for your situation.

Step 1 — List Providers Available in Your Area

Not all POS companies serve every location equally. Ask what providers are available in your town, city, state.

Step 2 — Gather Their Fee Schedules

Ask each for:

• % fees per transaction for different ranges (small, medium, large)

• Flat fees if any (transfer, withdrawal, deposit)

• Startup or machine cost (caution fee, purchase fee)

• Any minimum usage requirement or commission bracket

Step 3 — Calculate Cost Based on Your Transaction Pattern

Simulate your daily or monthly transaction pattern:

• How many transactions; what avg value; how many big or small ones

• Use each provider’s fee schedule to compute cost for those transactions

Step 4 — Consider Non‑Fee Costs & Factors

• Device cost, machine maintenance

• Settlement time (how fast provider sends your money)

• Reliability, network, uptime, customer support

• Hidden fees

Step 5 — Decide Based on Total Cost & Convenience

Often a slightly higher % provider but with better device, support, fast settlement may be better overall than a lowest‑fee provider that fails often.

Summary Table: Top Cheapest POS Providers in Nigeria (2025)

Here is a comparison summary of the main POS providers and their typical charges, machine cost, and what makes them good/limiting:

FAQs — Frequently Asked Questions

Here are more than 10 common questions about POS charges in Nigeria and simple answers.

1. What is the lowest POS charge percentage available in Nigeria in 2025?
   Based on current data, 0.3% withdrawal charge (for small withdrawals under ~₦20,000) by Bankly appears to be among the lowest widely available.

2. Do POS companies with lower charges always cost less overall?
   Not always. If they have high startup/machine costs, or hidden fees, or you do many transactions above certain thresholds, other providers could cost less overall.

3. What is a caution fee?
   A caution fee is like a deposit you pay to get a POS machine; sometimes refundable if you return machine in good condition after a period.

4. Can POS charges differ by location?
   Yes. Rural or remote areas may have higher delivery cost, network issues, or higher risk, increasing costs. Some providers charge more in certain states.

5. Are bank POS machines more expensive than fintech POS providers?
   Generally yes: many bank POS services have higher % fees or flat fees than some fintech POS companies (Bankly, Moniepoint etc.) in 2025.

6. How does settlement time affect your cost?
   If a provider holds your money longer (long settlement time), you lose the value of that money or can’t use it. Faster settlement is more valuable, even if charges slightly higher.

7. Do large‑transaction businesses get lower POS rates?
   Often yes. Providers may offer discounted % or better rates for merchants with high volumes or turnover.

8. Are there hidden fees to watch out for?
   Yes. Examples: maintenance fees, connectivity/data fees, downtime penalties, float requirements, charges for offline transactions, or terminals damage fees.

9. Which POS provider is best for someone starting with low capital?
   Probably Bankly (low startup cost, low % fee for small withdrawals) or a provider with refundable caution fee.

10. Can I negotiate POS charge rates?
    In some cases yes, especially if you are high‑volume merchant. You can ask providers if there are “preferred merchant” rates or volume discounts.

11. Is POS charge including VAT / tax?
    Sometimes providers will include Value Added Tax (VAT) or Electronic Money Transfer Levy (EMTL) components; check receipts, ask provider.

12. What is the difference between “withdrawal” and “payment” charges at POS?
    Withdrawal usually refers to cash‑out transactions (you get cash from POS). Payment or sales refer to accepting card payment for goods or services. They may be charged differently.

13. Do POS charges change over time?
    Yes. Providers may adjust rates based on inflation, regulation, telco costs, or cost of supplies. Always check the most recent schedule.

Conclusion

To sum up:

• In 2025 in Nigeria, Bankly POS appears to offer among the lowest POS charges overall, especially for small transaction amounts.

• Other fintech POS providers like Moniepoint, OPay, PalmPay, Baxi, Kudi/Nomba are close, and in some business scenarios may be nearly as cheap or cheaper depending on transaction pattern.

• Bank POS services (e.g. Zenith, GTBank, Access) tend to have slightly higher rates or less competitive for small‑value transactions.