How much do POS agents actually earn in Nigeria?
A busy POS agent in Lagos doing 80–120 transactions/day at an average of ₦5,000 per transaction can earn ₦2,000–₦3,600 in commission daily (at 0.5–0.6%). That is ₦52,000–₦90,000/month before costs. A quiet residential location doing 20–30 transactions/day earns ₦15,000–₦30,000/month. Location is the single biggest variable.
Do I need a large float to run a POS agent business?
Yes. Float is the cash you need on hand to give customers withdrawals. Most providers recommend ₦30,000–₦100,000 in float. Moniepoint and OPay agents often maintain ₦100,000–₦300,000 in float at busy locations. Insufficient float means turning away customers — your biggest risk for revenue loss.
Is OPay or Moniepoint better for agents in Nigeria?
OPay offers 0.6% commission with no cap — better for large transactions. Moniepoint caps at ₦200 per transaction, which limits earnings on large withdrawals but provides more predictable costs for the operator. For high-volume, lower-amount areas (markets, bus stops), OPay's 0.6% uncapped tends to earn more. For low-volume business areas with larger transactions, the difference is smaller.
What are the risks of a POS agent business?
Key risks: (1) Network downtime — no transactions = no income, (2) Fraud — customers presenting fake debit alerts, (3) Float theft/robbery — a real security concern in high-crime areas, (4) Competition — the market has become very saturated in major cities, (5) System reversals — when transactions fail mid-process, your float can be locked for days.