UBA POS machine is one of the major ways of giving financial inclusions to individuals in the community or rural areas. The UBA Point Of Sale machine is commonly used in shopping malls and restaurants, it can also be used to clear instant bill payments.
The UBA POS machine is typically designed to allow individuals to provide numerous financial services and banking options to people in situations where banking halls are not available. Individuals will be able to enjoy a convenient banking experience with adequate customer relations and supports through the use of the UBA POS machine. This is because of the nearness of these machines to people’s homes or businesses. Are you still curious about what a POS machine is? Or you are thinking of how to get a UBA POS machine to start your business? Well, you do not have to worry, this article will walk you through the basics of the UBA POS machine and how to acquire it.
Pos Machine – Meaning
POS machine is portable and capable of facilitating any kind of payment of goods and services at any merchant outlet using bank cards. This machine plays an important role in the enforcement of the cashless policy in different banking sectors. It has now become the major means of funds withdrawal and payment for business transactions.
UBA POS Charges
It should be known that the UBA POS machine is quite expensive which makes the POS merchants operate on a minimum of #1,000,000 monthly or about #35,000 daily. The charges on POS transactions range between NGN50 and NGN300, which is about a 45% commission.
How to get a UBA POS Machine
You can easily get your UBA POS machine by simply following these step by step procedures:
The first step to acquiring your own UBA POS machine is to print an enrollment form from UBA’s main website. Make sure to fill out the forms correctly in order not to encounter problems when processing them.
After filling out the forms, you should also get the principal decision-maker of your business to fill up the POS request form.
You should now scan through the mandate thoroughly, and make sure to submit the form to any of the nearest UBA branches.
Then you should proceed to the e-banking helpdesk on the UBA official page and select the new login and the electronic banking option.
At this point, the type, class, and title of your proposed business will be demanded then you should select request for the request type, the TAMS for the title, and the POS for class. After you have provided all the information, you should now click the “Continue” tab.
On the new page that will pop up, you should now click the “Browse” tab to attach a copy of the scanned mandate copy and submit it afterward.
You will now be given a unique issue number for tracking your application, after this, you can now check your email for this issue number if it has been sent to you. If the issue number has been sent to your mail, you have come to the end of your POS machine application process.
You should note that there are several POS deployment dates available, therefore UBA will contact you when to come to get yours when it is ready through your email.
Features of a POS Machine
POS machine comes with some features that make them perform numerous tasks, here are some of the features of POS machines:
- Account balance inquiry
- Can be used for bills payments
- Performs funds transfer
- Airtime vending
- It accepts all kinds of bank cards.
- It has access to view transactions online
Benefits of the UBA POS Machine
A UBA POS machine is designed to carry out the following functions such as:
You can withdraw money from your account using a POS machine, but this transaction is solely dependent on how much the POS agent has. Simply locate any POS terminal in your to make a cash deposit.
The UBA POS machine also allows you to make cash deposits to your UBA account or any other bank account, just as you could do at other banks.
You can also transfer funds using this machine and your transfer to other bank accounts will be completed within minutes.
Using UBA POS machines ensures customer satisfaction because the payment method is flexible and the transaction is easier to execute. You can also use the UBA code to check the balance on the machine.
UBA POS machine has been an easy way for people to make transactions without having to go to the bank or the ATMs. Many people now find it hard to go to the bank or the ATM in other to make their transactions and have diverted to using POS for all their transactions because it is available in supermarkets, pharmacies, Travel Agencies, filling stations restaurants, and many more.
This is the more reason for you to start your own POS machine business to maximize profit while at the same time making the cash available for people at their convenience.