Zenith Bank POS business is redefining the agent banking sector in Nigeria. Zenith Bank Plc – a financial institution headquartered in Lagos, was established in May 1990 by Jim Ovia and commenced operations in July of the same year as a commercial bank.
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The Bank became a public limited company in 2004 and is a giant financial powerhouse currently ranking as the 6th biggest bank in Africa. In addition, the bank has over 500 branches and business offices in all states of the federation and the Federal Capital Territory (FCT) Abuja.
Read also: How To Become A POS Agent With OPay.
Three Key Pillars of Zenith Bank
People
Zenith bank’s staff are the company’s most valuable asset. The bank attracts, motivates, and retains a highly talented pool of people from diverse backgrounds.
Technology
Technology is at the core of Zenith bank’s business strategy. The bank deploys the global best technology infrastructure in running its business.
Service
The bank believes in exceptional service delivery as the customer is always at the centre of its services.
In this article, I will share all you need about Zenith bank’s agent banking service. Let’s dive in!
Zenith bank’s agent banking (Z-Money) is a financial inclusion service adopted by the bank to extend its retail reach across all segments of the public. As an agent, you will be rendering basic financial services on behalf of the bank.
Available Services On Zenith Bank POS Business Platform
- Account opening.
- Cash withdrawal.
- Cash deposit.
- Funds transfers.
- Bills payment.
- Airtime Purchase.
Zenith Bank POS Business Requirement for Business Entities
- An existing retail/business outlet with a trading name.
- An existing retail/business outlet in a physical location for a minimum of 12 months.
- An outlet can be a school, market, shopping mall, fuel 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 a Zenith bank corporate account for 6 months.
Prospective individual agents can register with their names and personal Zenith bank accounts.
See also: Moniepoint POS – How To Become A POS Agent With Moniepoint.
Registration Documents Required
For corporate accounts:
Duly completed registration/signup form with the following documents attached.
- Proof of address (utility bill).
- Valid means of identification.
- 2 Passport photographs.
- TIN.
- Certificate of Incorporation.
- Memorandum and Article of Association.
For individual accounts:
Duly completed registration/signup form with the following documents attached.
- Proof of address (utility bill).
- Valid means of identification.
- 2 Passport photographs.
How To Request For A Zenith Bank POS Terminal
You can request a POS terminal through your relationship officer. Upon request and completion of the registration process, you will be issued a POS terminal free of charge to start your business transactions.
And you will also need to download and install the Zenith bank agent banking app on your mobile device.
Read also: How To Become A POS Agent With PalmPay.
Benefits of Being A Zenith Bank Agent Banking Agent
- Cash Management – opportunity to evacuate cash off your retail premises.
- Increase in sales/business opportunities due to an increase in footfall.
- Additional income from transaction/services fees and commission.
- Opportunity to cross-sell your products/services to walk-in customers.
Features of Zenith Bank POS Terminal
- Multi-card Capability: Zenith bank’s POS terminals support all major payment cards in Nigeria.
- Quicker Reconciliation: You can now balance your reports at the end of the day with customized reporting that ensures no loose ends in your accounting.
- Fast Processing: Each transaction takes between 8 and 15 seconds on an internet connection.
- Newest Technology: Your business will benefit from the latest hardware and up-to-date software designed to help reduce fraud and enhance data security.
- Industry Standard Fraud Protection: Zenith bank’s POS terminals’ compatibility with the new Chip-and-PIN standard helps you prevent fraud.
- High-end Data Security: Take advantage of the latest industry standard for point-of-sale data security. You will receive the most current security for your terminals, including card masking capability.
- Online Reporting: Conveniently view real-time data, search transactions, customize reports and analyze trends with the available Transaction Viewer Portal with which you can view your transactions as they occur, or the Settlement Viewer Portal, which breaks down your lump-sum settlement into the individual transactions.
Frequently Asked Questions On Zenith Bank Agent Banking Service
How Long Does It Take To Deploy Terminal(S) To Merchants?
It is usually within 8 working days for Lagos locations, while it may take up to three (3) weeks for locations outside Lagos.
Starting A Business In Nigeria: A Comprehensive Guide.
Can My POS Terminals Run On My Local Area Network?
Yes, but the merchant must provide the necessary parameters required for setup.
What Do I Do If I Am Getting The Error Message “ISSUER OR SWITCH INOPERATIVE”?
This may occur if the network of the bank that issued the card fails to connect or the switch that processes the card has system downtime. You may ask the customer to use another bank” s card if available or try again later.
Cardholder’s Account Is Debited Without Approved Receipt Printed On The POS Terminal?
Do not release goods or offer services for such transactions; there may be an automatic reversal of such transactions. Furthermore, the cardholder should visit his bank to lodge the complaint and ask for the Dispense Error Form.
Read also: How To Become A POS Agent With Nomba.
I Have Internet In My Office, And I Want To See My POS Transactions As They Occur. Is This Possible?
Send in the following information to possupportunit@zenithbank.com for access set up for you on the POS Transaction Viewer portal by your Account officer. The set-up process can take up to 72 hrs.
1. Merchant’s Account number
2. Email address
3. Phone number
How Do I Reconcile The Bulk Settlement Made Into My Account For POS Transactions?
Request the POS Settlement Viewer through your Relationship Manager by supplying the following information:
1. Your desired Username
2. Email address
3. Account Number
Zenith Bank will create a portal for you, and you will be given the login credentials to access it and view the breakdown of all your transactions. The setup is instant.
When Do I Get Settled For Transactions Done On My POS?
Settlement is T+1 i.e. (transaction + 1 day) within 24hours.
My Friday Transactions Have Not Been Settled As Of Monday Morning. So how Can I Trace The Transactions?
Transactions settlements are usually done on bank working days. Transactions done on Friday would be settled before the close of business on Monday.
What If I Get The Error Message “Terminal Can Not Process Visa Card”?
Please send a mail with Merchant’s name and Account number to zenithdirect@zenithbank.com for resolution.
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