PalmPay Limited is a licensed mobile money services company in Nigeria, with a pioneering app and thousands of POS agents across the country. PalmPay POS business is one of the leading employment opportunities for Nigerians in the industry today.
The company aims to work together with different stakeholders and develop the future of Africa’s digital payments. They hope to make it more accessible, cheaper, and unforgettable.
If you’re familiar with our platform, you will know that we have step-by-step information on how to start a POS Business. We also researched the best banking agency platforms for POS businesses so that you will have all the information you need in one place.
PalmPay POS Agency Since 2019
In just 3 years, the digital finance platform has grown to over 5 million customers who love using the PalmPay app. Sometimes it’s even their first-ever form of formal financial management.
Is CBN Aware Of PalmPay?
PalmPay is licensed and insured by the CBN and NDIC. PalmPay also offers proof of insurance documents, which details the size of their liability. They offer a new way to pay that is PCI-DSS certified, ensuring your data safety while transacting business on their site.
Business You Can Do With PalmPay POS
- You can check your customers’ bank account balances
- Offset bills
- Transfer funds
- Withdraw funds
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Steps To Get Started As a PalmPay POS Agent
- Head over to PalmPay’s official site
- Locate the menu where you see “Agents” and click on it
- Proceed with the “Get Started Now” button
- Complete the form that you will be given with the required information and smash the “Apply Now” button
- Go to the Google Play store and get the PalmPartner App
- Go ahead and sign up by providing your registration details
- Accept the terms and conditions and finalize your registration
- Now you can start doing business with PalmPay directly on their app smoothly
Prerequisites To Get PalmPay POS
- You must have an active bank account number
- Valid Bank Verification Number (BVN)
- A business license is required if your business name is registered
- A valid identification document; like National ID Card, Voter’s Card, International Passport, Driver’s License, and so on
Steps To Acquire The PalmPay POS Machine
- Login to your dashboard on the PalmPartner App
- Navigate to where you will see “Apply” and click on it to proceed with your POS machine application or request
- Before you successfully apply, your account needs to be upgraded
- All you will have to do is click on the “Upgrade Now” button and supply all the necessary information required
- When you are done submitting your POS machine application, the company’s team will get a message to you in a few days’ time for further instructions
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The Cost Of PalmPay POS Machine
The PalmPay POS machine application is free. However, a caution fee deposit applies for the regular POS terminal when you order – the amount is N30,000 for the newer Android model of the POS device.
This caution fee will be returned to you after we receive the POS machine in your possession. As such, the machine must be in good condition with no trace of damage.
Commissions & Charges
PalmPay charges service fees for different transactions. Transfers to any other bank are ₦10, cash withdrawals below ₦20,000 will be charged at 0.5%, and any over ₦20,000 charge at 2%.
There’s also a ₦100 service charge on any amount you transact with if it is over ₦100.
Commissions For Data & Airtime Top-Up
- Airtel – 4%
- MTN – 3%
- 9Mobile – 4.5%
- Glo – 4%
What You Will Gain As a PalmPay POS Agent
- PalmPay provides more than just payments. In addition to capturing new leads and money with our mobile solution, they also provide value-added services to help you manage your business.
- You will be given a sales manager who is dedicated to attending to your needs 24/7
- By using PalmPay, you don’t have to wait for your earnings to clear in order to withdraw your funds. With an instant settlement, you can have access to your cash the moment you’ve made it.
- Whatever your needs are, PalmPay has the answer. From just starting out to more complex business requirements, we have you covered. Financing is available and all options come with a dedicated account manager.
- With PalmPay, you can be sure that you’re earning more money because we have no monthly minimum and low fees, and the innovative performance incentive program helps grow your business both organically and through boosted conversions.
By signing up as an agent with PalmPay POS, you’ll be able to earn decent rewards and double your profits. This opportunity is best suited for entrepreneurs who want a lot of challenges or aspiring entrepreneurs who are looking to diversify their holdings.
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