In areas where you live, work or pass through, you may have transferred, deposited, or made a withdrawal through the Zenith Bank POS among the many Point of Sales machines, and left to wonder how much Zenith Bank POS charges.
Zenith Bank Point Of Sales machine is a financial inclusion strategy adopted by the institution by issuing POS machines to an interested person to bring banking services closer to the people who live in the communities far from their branch.
Zenith Bank POS does not charge more than you can afford, and that is cheap when it is compared to what other agents charge. It comes with features and benefits that are in the best interest of the agents and customers.
We aim this post at providing the best details you need to know about the benefits, charges, commission, and ways to go for prospective agents.
How Much Are Zenith Bank POS Charges?
Zenith Bank POS charges are very reasonable and quite affordable. For deposits and withdrawals between NGN1,000 and NGN100,000, they expect the agent to charge between NGN50 and NGN300, and the minimum agent commission is about 45%.
Features Of Zenith Bank POS
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Multi-Card Capability
Zenith Bank POS supports all kinds of debit cards used for payments in Nigeria.
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Quicker Reconciliation
Balancing reports at the end of the day and customized reporting ensure there are no loose ends in your accounting.
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Fast Processing
The system completes transactions between 8 – 15 seconds.
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Newest Technology
Your business will have the benefit of the latest hardware and up-to-date software designed to help reduce fraud and enhance data security.
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Industry-Standard Fraud Protection
Zenith Bank terminals’ compatibility with the new Chip-and-PIN standard helps you prevent fraud.
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High-End Data Security
Taking advantage of the latest industry-standard for point-of-sale data security, Zenith Bank made adequate provisions for the agent to receive the most current security for your terminals, including card masking capability.
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Online Reporting
Agents will view real-time data, search transactions, customize reports and analyze trends with the Transaction Viewer Portal conveniently, or the Settlement Viewer Portal which breaks down your lump-sum settlement into individual transactions.
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Settlement
Transactions processed on the terminals are settled one day after the transactions occurred. They expressed this as T+1 where T is the date of the transaction and 1 refers to the next working day. So transactions performed on a Friday are settled on Monday.
What Do Zenith Bank POS Agents Enjoy?
As a registered agent who has been provided with a Point of Sales machine by Zenith Bank, you stand to gain a lot.
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Increase in Sales
As a Zenith Bank POS agent whose charges are affordable, you will have extra traffic or more consumers visiting your store for better patronage, which leads to sales increases.
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Cross-Selling Becomes Less Difficult
As a Zenith Bank POS agent, you could easily get your customer to purchase other products that you sell.
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Increase in Income From POS Charges
Zenith Bank pays you a certain percentage of what you charge the customer, and this definitely makes an excellent source of income.
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Adequate Cash Management
A Zenith Bank POS agent would have an operational store where cash would be moved effectively. This could be herculean, but in the long run, it pays!
Effective cash management is also certain as you get to credit your personal account with the amount of cash you deducted from your customer.
You can also see Zenith bank daily transfer limit
How To Get A Zenith Bank POS?
A POS agent serves as the representative of the bank in the area where the store is located and makes transactions through the machine provided for him or her by the institution.
Without a doubt, as a prospective Zenith Bank POS agent, there are requirements and steps to take when trying to secure a machine successfully.
Requirements include;
- Proof of address (utility bill)
- Valid means of identification
- 2 Passport photographs
- An existing retail/business outlet with a trading name and a physical geographical location for a minimum of 12 months.
- An outlet can be a school, market, shopping mall, filling station, or any business outlet with reasonable human traffic.
- The outlet should accommodate a dedicated desk/counter and a minimum of one (1) staff to handle agent banking services
- Must have maintained an active Zenith bank account for a minimum of 6 months
The requirements are different when you are procuring the machine for a corporate account, and they are as follows;
- Proof of address (utility bill)
- Valid means of identification
- 2 Passport photographs
- TIN
- Certificate of Incorporation
- Memorandum and Article of Association
Once you have the needed requirements, below is the comprehensive guide to follow to get the machine;
- A well-completed registration form with the attachment of the required documents listed above
- However, please note that there is no sign-up fee, therefore, be smart
- Visit any nearest Zenith bank branch for more information
- Download your Agent Banking Form
- Or download the Merchants Enrolled on Agent Banking form
- After the successful registration, please download the POS agent banking mobile app on your phone
Conclusion
Having the proper knowledge about what you intend to embark on is one of the best things ever, and we have aided that by compiling all that you need for your benefit.
Hopefully, you will put all you learn to use and become a successful Zenith Bank POS agent.
Also see zenith bank transfer code
