PalmPay POS: Types, Charges and Commission Rates

PalmPay POS

PalmPay POS Types Charges and Commission Rates: Many educated young Nigerians who have not yet found their white- or blue-collar careers are turning to the POS industry as their primary source of employment. Yes, white-collar jobs are highly desirable, but if we’re being serious, you can still survive and put food on your table with a POS business. You have the chance to establish a mobile banking system in your neighborhood with Palmpay POS.

As you offer these mini-bank services to your nearby area, Palmpay delivers many delights. Palm Credit and Eazybuy are also owned by Chinese people in addition to Palmpay. Your work schedule is flexible, and this position has no monthly revenue ceiling.

This page provides a step-by-step tutorial for getting a POS (Point of Sales) terminal in Nigeria so that you, a PalmPay agent (PalmPartner), can make withdrawals, transfers, deposits, pay bills, and other transactions.

Why use PalmPay?

When compared to other POS merchants who hire agents for transactions, PalmPay is extremely unique. Here are a few distinctive features of PalmPay:

  • There is no minimum float balance requirement for PalmPay.
  • They brand your place for you using banners, flyers, and other materials at no cost.
  • Unlike the others, commissions are paid weekly instead of monthly.

Other PalmPay POS features:

  • Easy to meet the daily target
  • Seamless withdrawal of cash
  • Unlimited funds transfer
  • TV subscriptions
  • 2 POS types to choose from
  • PalmPay POS price is cheap
  • payment of utility bills
  • Airtime and data subscription
  • check customer’s account balance

Application Requirements for a Palmpay POS in Nigeria

The following are the requirements to apply for a POS on PalmPartner:

  • The app’s user interface and transaction patterns must be known to the agents. So, utilising the PalmPartner app, you must be able to complete several transactions.
  • A location where no other Palmpay representatives are nearby
  • a legitimate form of identification, such as a passport, voter’s card, NIN, or driver’s license.
  • BVN and CAC certification if you have already registered your business.
  • Utility invoices, such as light, water, and garbage bills, rent receipts, and so forth
  • Authentic account number

How to Apply for PalmPay POS device in Nigeria?

Downloading the application onto your phone is the first step in making a successful request for a Palmpay POS system. Follow the steps below:

  • Download PalmPartner from the Playstore for iOS or Android.
  • After installing Palm Partner, you can sign in using your PalmPay app login information or if you don’t already have an account, you can simply create one in Palm Partner.
  • Once you’ve logged in, look for the “apply for POS” button, click it, and then follow the on-screen directions.
  • Follow the steps to complete the app’s application form.
  • Agree to the terms and conditions stated.
  • Provide the necessary paperwork and upload it online.
  • Be alert for a call from the PalmPay team; they typically respond within seven days.

For speedy enrollment and setup, you can also go to PalmPay’s Lagos location at 20 Opebi Road, Ikeja, Lagos.

Type of Palmpay POS

There are two varieties of Palmpay POS Machines:

  • Traditional pos – Even though it’s a little outdated, you’ll still finish your assignment. In the end, the fees are identical to the Android pos kind.
  • Complete android pos – This has a fantastic user experience and comes with all Android’s functionality.

Although the costs for these two POS kinds differ, the transaction fees are the same. Customers can print transaction receipts using traditional POS systems and Android POS printers.

PalmPay POS Price Model

  • 20,000 naira is the traditional PalmPay POS caution cost.
  • 30,000 Naira is for the Android POS cautionary fee.

Note: this sum does not include the cost of the PalmPay POS system. It’s only a (rental) cautionary fee.

If there is no damage to the machine, you may return it if you are no longer interested in the POS business or have acquired another POS machine elsewhere.

POS Outright acquisition

Here is the cost to purchase and own the POS device:

  • POS traditional cost 40,000 naira
  • Android POS cost 60,000 naira

it is wiser to purchase and own the POS machine rather than paying a cautionary cost of N20,000 or N30,000 when you may instead spend N40,000 or N60,000 to own your unit for life.

PalmPay POS Charges and commissions

Below are fees for both withdrawals and deposits for PalmPay POS:

Withdrawals Charges

As I said, there is a 0.5 per cent withdrawal fee for Android and conventional PalmPay point-of-sale devices. This means that for every N1,000 you withdraw, you will be charged N5

You will be charged N5 for every 1000 naira.

You will be charged N25 for every N5000 you send to consumers.

You will be charged N50 if you send a customer 10,000 naira.

The fee is 75 naira for N15000.

Withdrawals of 2000 Naira or more are subject to 100 Naira fees.

Commissions, fees, and deposits

Regardless of the size, deposits will be charged at the rate of N10

This means that PalmPay would charge you 10 naira for the transfer even if the amount of money you send is N100,000 when clients ask you to assist them in sending money to someone.

Limit on Transfers

Accounts with Palmpay have three levels. Tier 1, Tier 2, and Tier 3 are their names. From the former to the latter, you can upgrade.

  • Tier 1 can only retain a balance of N300,000 and has a 50,000 naira daily transaction restriction.
  • Tier 2, however, has a daily transaction restriction of 200,000 nairas and a maximum holding amount of 500,000 nairas.
  • Tier 3 has a daily transaction cap of 1 million and a maximum account balance of five million.

Airtime, data and TV subscriptions

  • MTN: 3 per cent
  • Glo: 4 per cent
  • 9mobile: 4.5 per cent
  • Airtel: 4 per cent
  • DSTV: 2 per cent
  • GOTV: 2 per cent

How can I get in touch with the PalmPay staff?

The PalmPay office can be reached at 017005700 (Nigeria) or 0800725644 (Ghana). You can also email as an alternative.

Visit their main office in Nigeria at 20 Opebi Road in Ikeja, Lagos. They’re open from 8 am to 7 pm Monday through Friday and from 10 am to 4 pm on weekends and holidays.

You can also go to Transnet Payments Ghana Ltd.’s main office in Ghana, located at 54 Senchi Street in Accra’s Airport Residential Area. Mon through Fri, 8 a.m. to 5 p.m., and 8 a.m. to 5 p.m. on Saturdays and legal holidays.

Also Read: Is Industrial Machinery/Components A Good Career Path

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