Under a faded umbrella at isi gate Umuahia, Obinna tapped away on his PoS terminal, barely pausing as he processed transfers and withdrawals for customers. “It’s a slow morning,” he said, even though he had already handled over ₦100,000 in transactions in less than 10 minutes.

Across Nigeria, PoS (Point of Sale) terminals have become a lifeline in neighbourhoods, markets, and bus stops. What started as a convenient alternative during ATM failures and bank downtimes has now grown into a multibillion-naira ecosystem. In 2024 alone, Nigeria’s PoS transactions hit ₦18 trillion, up 69% from the previous year’s ₦10.7 trillion.

But how much money do PoS agents really make in a month? And is it as profitable as it looks from the outside?

Breaking Down the Business of POS in Nigeria

POS agents make their income by charging customers a small fee for services like withdrawals, deposits, transfers, and even bill payments. These charges vary depending on the location and the amount being transacted. For example:

• ₦100–₦150 to withdraw ₦5,000

• ₦250 for ₦10,000

• ₦400–₦500 for ₦20,000

These fees cover the agent’s profit, fintech platform commissions, and sometimes include the ₦50 transfer levy applied to transactions over ₦10,000.

However, what an agent earns monthly depends on several factors, such as:

• Location: High foot traffic areas like bus stops or marketplaces bring more customers.

• Platform used: Fintechs like PalmPay, Moniepoint, and Opay have different fee structures and incentives.

• Volume of daily transactions: The more transactions an agent processes, the higher their daily earnings.

How Much Do They Actually Earn?

Interviews with several agents across Umuahia reveal that daily earnings range between ₦3,000 to ₦12,000, depending on transaction volume and pricing. This brings monthly income into the range of:

• ₦90,000 (at the low end)

• ₦360,000 (for high-performing agents)

For example:

• Nwaka, who operates on a quiet residential village in Umuahia, handles about 10–20 transactions a day.

• Just a few blocks away, Chikaodi, based at a busier junction, sees 50–60 customers daily.

Some agents using Opay even benefit from reduced transaction charges the more they process, thanks to a volume-based reward system.

The Real Costs of Running a PoS Business

While the numbers might look promising, the reality includes several hidden costs.

1. Data and Connectivity

• Some terminals rely heavily on data, costing agents up to ₦30,000 monthly just to stay online.

• Others use bank-issued machines that work offline but often suffer delays, risking customer dissatisfaction.

2. Transportation and Cash Access

• With banks limiting weekly cash withdrawals, agents like Obinna rotate across multiple bank branches using different accounts, spending around ₦25,000 monthly on transport.

• In periods of cash scarcity, some even buy cash at a premium to stay in business.

3. Rent and Utilities

• Charles, who operates from a rented shop rather than a roadside stand, pays ₦300,000 annually in rent and spends about ₦30,000 per month on electricity.

• Some agents also hire assistants to watch their stands, especially those with families or other commitments.

After deducting all expenses, many agents report a take-home profit of ₦15,000 to ₦20,000 per month, though this can vary widely.

Risks That Come with the Job

Running a PoS terminal isn’t just about counting cash—it also involves serious risk.

• Security threats: Some agents, like Abuchi, have faced armed attacks. With no formal security like banks have, many agents develop personal safety strategies, such as hiding cash in unusual places or avoiding late hours.

• Fraudulent transactions: Fake debit alerts and network delays are common tactics used by fraudsters. A transaction might show as “successful” on the terminal, only to reverse later—leaving the agent at a loss.

Why Nigerians Still Choose PoS Work

Despite the challenges, many agents say it’s better than being unemployed. With Nigeria’s formal job market still unable to absorb the country’s youthful population, PoS operations have become a practical income source.

Chikaodi puts it best: “It may not be a dream job, but at least I’m doing something—and I’m helping people in the process.”

The Bigger Picture: PoS Agents as Pillars of Nigeria’s Financial System

As of 2023, cash remained the dominant payment method in PoS transactions across Nigeria, making up more than 50% of usage. While digital payments are on the rise, inconsistencies in banking services mean that PoS agents remain the most accessible and reliable financial touchpoint for millions.

From dawn till dusk, under umbrellas and in wooden kiosks, these agents quietly keep Nigeria’s financial engine running—₦100 at a time.