PalmPay POS – How To Become A POS Agent With PalmPay

PalmPay Limited is a leading licensed mobile money services company that launched in Nigeria in 2019, operating through an app and POS agents all over the country. PalmPay POS business is one of the leading agent banking business opportunities providing massive employment for thousands of Nigerians today.

The company believes in building the future of finance in Africa by redefining the payment experience for consumers and businesses in Africa and by making financial services more accessible and affordable.

If you are a regular on this platform, you should have noticed that we have comprehensive content on how to start a POS business. Also, we researched the best POS banking agency platforms so that you will be spoilt for choice.

If you want to start a business but don’t know the business to start, go to our shop to get all the resources that will help you start, market and grow a sustainable business. Also, at Entrepreneurs Channel, you will get video content on how to develop a sustainable and successful business.

Since its inception in Nigeria in 2019, PalmPay has provided over 5,000,000 customers with convenient and affordable digital payments. And for some of these individuals, their PalmPay app is their first formal financial account ever – talk about using the power of technology to accelerate financial inclusion.

PalmPay Core Values.

• Putting the customer first.
• Teamwork makes the dream work.
• Continuous innovation.
• Passion for excellence.
• Entrepreneurial accountability.

Is PalmPay Licensed by CBN?

PalmPay is licensed by the CBN as a mobile money operator (MMO) in Nigeria, and its cash deposits are insured by the NDIC (Nigeria Deposit Insurance Corporation). In addition, the PalmPay web platform is PCI-DSS certified, ensuring that your card data security while transacting business on their site is securely protected.

Starting A Business In Nigeria: A Comprehensive Guide.

Transactions You Can Perform with PalmPay POS

1. Cash withdrawal.
2. Fund Transfer.
3. Payment of Bills.
4. Check customers’ account balances.

How To Register As A PalmPay POS Business Agent 

To become a PalmPay agent, follow these steps below:

1. Go to the PalmPay website here.
2. Click on “Agents” on the website title bar
3. Click on the “Get Started Now” button.
4. Fill out all the information required on the form and click “Apply Now.”
5. Alternatively, Download the PalmPartner app from the Google Play Store for Android devices or App Store for iOS devices.
6. After downloading, signup on the app by inputting the required information.
7. Agree to terms and conditions and submit.
8. Congratulations, you can start transacting business on your PalmPartner app.

See also: How to become a POS Agent with Moniepoint.

Requirements To Get PalmPay POS Machine

• A verified Identity card (international passport, national Id card, voters card, etc.).
• Utility bill.
• Business license (This applies to registered businesses only).
• Valid BVN.
• A valid Account Number.

How To Get The PalmPay POS Machine.

• Login to your PalmPartner app.
• On the main app dashboard, tap “Apply” for the PalmPay POS button.
• Upgrade your account before going further.
• Tap on the “Upgrade Now” button and submit all the relevant information requested from you.
• The PalmPay team will reach out to you on the next line of action within a few days.

See Also: How to become a POS agent with OPay.

How Much Does PalmPay POS Cost?

The PalmPay POS machine application is free. But a caution fee deposit of N20,000 applies for the regular POS terminal, while the amount is N30,000 for the newer android model POS device.

This caution fee deposit will be returned to you within 15 days of returning the PalmPay POS machine in your possession. But the device should be in perfect condition without any damage.

Read also: Nomba POS – How To Become A POS Agent With Nomba.

PalmPay POS Charges and Commission Structure.

PalmPay charges 0.5% on cash withdrawals from ₦1-₦19,999. Withdrawals from ₦20,000 and above attract ₦100 service charges. And for transfers to other banks, it charges ₦10 on any amount you transact with.

 PalmPay POS Merchants Commission Structure For Airtime and Data Top Up

• MTN: 3% fee.
• Glo: 4% fee.
• 9mobile: 4.5%fee.
• Airtel: 4% fee

Benefits of Being a PalmPay POS Business Agent

• Earn More Money: PalmPay helps grow your business through attractive commissions, low fees, and performance incentives.
• The Right Device For You: Whether you’re just getting started or have complex business requirements, PalmPay has the solution for you! Financing options are available.
• Instant Settlement: With PalmPay, you have the freedom to access your money the moment you make it through instant settlement.
• 24/7 Support: You’ll have access to a dedicated sales manager and our 24/7 customer care line to support you.
• Value-Added Services: PalmPay doesn’t just stop at payments. They give you tools to help you manage your business and grow your customer base and revenues.

See also 20 Best POS Agent Banking Platforms in Nigeria.

Frequently Asked Questions About PalmPay POS Business.

What areas do Palmpay support？

PalmPay currently covers many states in Nigeria. Here are the starts that PalmPay supports: Enugu State, Abia State, Cross River State, Bayelsa State, Rivers State, Delta State, Benue State, Anambra State, Akwa Ibom State, and Bauchi State. Others include Borno State, Kebbi State, Sokoto State, Katsina State, Kogi State, Jigawa State, Nasarawa State, Kano State, Niger State, FCT, Plateau State, Kaduna State, Zamfara State, Adamawa State, Edo State, Oyo State, Ogun State, Kwara State, Osun State, Delta State, Ekiti State and Lagos State.

What If PalmPay POS Machine Can’t Turn On?

• The terminal will not switch on when there is no electricity. You need to unplug the battery.
• Connect the battery, charge it for 5 – 10 minutes in the power-off state, and then it can be turned on normally.

What If I Get The Message “Transaction Succeeded But The Receipt Didn’t Print?

• Find the particular transaction in the transaction history log.
• Choose the reprint button to reprint the receipt.

SIM Cards Supported By PalmPay POS Machine?

• MTN
• Airtel
• Glo
• 9mobile

Do you want to increase your sales lead? Find all you need and more in the comprehensive Sales and Marketing Plan Template.

My POS Machine Is Offline Even With The SIM Card Inserted?

• Check if the SIM card still has a data balance. If it’s not enough, please recharge the data bundle for it.
• If the step above is not working, please reach out to PalmPay.

What Is PalmPartner?

PalmPartner is the Agent app that enables agents to carry out mobile money activities and refer and recruit other agents on the PalmPay platform.

What Are The Benefits of Becoming A PalmPay Agent?

Recruit other agents and earn a referral commission. Earn more commission by carrying out mobile money activities on the app.

How Do I Fund My Agent Account?

You can either link your bank card on PalmPartner or deposit it to your wallet from other agents.

Start your own POS business today with this detailed cost analysis guide here.

How Much Do I Need To Have In My Agent Account As Startup Capital As A Newly Registered PalmPay Agent?

You only need enough money (float) to carry out your daily transactions. In general, it is around N20,000.

As A New Agent, Will I Get Branding Materials From PalmPay?

Yes, branding materials are available for new agents and loyal agents. As you stay with them, you will receive more branding materials to help you grow.

In summary, the PalmPay POS business holds great potential for both entrepreneurs and aspiring entrepreneurs as it offers multiple rewards for work done and incentives to achieve more sales. So do sign up to become an agent today.

Start your own POS business today with this detailed cost analysis guide here.

Image credit: facebook.com/palmpayapp.