OPay is a Nigerian startup company established by a Chinese firm that also owns the Operamini browser.
Since its inception in Nigeria, OPay has been one of the most popular payment processors in the country to this day.
It is a fintech firm that facilitates mobile payments such as sending and receiving money, but you also have the option of paying for food, bills, airtime, and data and even withdrawing cash from an OPay agent.
OPay, as a financial services provider, has been a significant source of income for many Nigerians involved in the POS industry. As a result, if you are ready and prepared to establish a POS business, you are among those interested in learning about the several types of OPay POS machines in Nigeria that may be applied for.
Aside from that, I’ll show you the pricing of varieties of OPay POS machines so that you can choose the best one that works with your budget.
OPay POS is not the only terminal used by POS agents, but it has been the most popular POS terminal since 2018. What makes it unique is that it is free to obtain; you do not have to purchase the POS.
However, there is a procedure that must be followed before you can obtain the POS machine and begin operating your business. But before we go into that, let’s check out the benefits of the OPay POS.
Benefits Of OPay POS
Here are some of the reasons why OPay POS is better than all other POS firms:
1. It is reliable.
2. It has low prices and a reasonable commission.
3. Outstanding network dependability
4. Quick Issue resolution
5. Excellent customer support and continuous network updates
Uses Of OPay
1. Payment of bills and utilities
You can pay for numerous bills, including cable TV, power, water, education, tolls, and taxes.
2. Betting Payments
Your betting wallet can be topped up immediately from your OPay account. You can also easily withdraw your bet winnings into your OPay account.
3. Transfers are quick and secure.
You may send and receive money in real-time from any bank using your OPay account for as low as ₦10.
4. Agent Banking Services
You can use the app to locate the nearest withdrawal agent.
5. Peer-to-peer Transfers
You can send and receive money for free from friends and relatives on your contacts list. The wallet-to-wallet payments are a quick and safe way to send and receive money using only your phone number.
6. QR Payments for Merchants
You can pay at Merchant locations by scanning QR codes with your mobile phone. No fees.
7. Vouchers and Rewards
You can get cash back and prizes when you use OPay.
Requirements To Become An OPay POS Agent In Nigeria
The following are the requirements for becoming an OPay agent in Nigeria:
1. You must have an OPay account.
2. Have your BVN, bank account number, a passport photo, a recent utility bill, a business center, and a valid ID card on hand.
3. You must be familiar with how a POS machine processes numerous transactions.
4. Your OPay account must have a solid transaction history.
5. You must be familiar with the OPay App’s transaction patterns and user interface.
6. You must have completed a large volume of transactions within four weeks of using the OPay App,
How To Request For OPay POS Machine
Here are the procedures to take before becoming an OPay representative and successfully obtaining a POS machine:
1. Increase your KYC Level to Level 3.
If you’re already an active OPay user, you’re a Level 2 user, however before you can receive an OPay POS, you must first upgrade your KYC level to ‘Merchant Level’. That’s level 3.
The following are the steps to upgrade your OPay Profile to KYC Level 3:
● Log in to your OPay Account, then select Me (Your profile).
● Click the picture icon on the upper left corner to access your Account Details,
● Upgrade to Level 3 by clicking the “upgrade to merchant” button.
● Upload your image.
● Upload a valid identification card e.g voters’ card, driver’s license, National ID, or international passport.
● Upload a recent utility bill (NEPA bill) not more than 3 months
● Add your BVN.
● Submit for review.
The OPay Team reviews and approves/denies your KYC within 24-72 hours. Once authorized, you will receive email and SMS notifications.
2. Switch your Profile to Merchant mode
Switch your profile to Merchant once it has been upgraded to KYC 3.
The following are the steps to switch your profile to merchant mode:
● Log in to your OPay Account, then select Me (Your profile).
● Click the picture icon at the upper left corner to access your account details,
● Click the “upgrade to merchant” button.
● Fill up your business information and click Next.
● Complete the required fields.
● Select the “upgrade” button.
The OPay Team will review your request and either approve or deny it.
3. Merchant Registration
After you’ve reached KYC level 3 and changed your OPay profile to Merchant, go to ‘Merchant Apply’ and request for an OPay POS machine
The following are the steps to do merchant registration on OPay:
● Log in to your device’s OPay app.
● Select ‘Merchant Apply.’
● Fill out all of the fields on the next page.
● Upload your three-month transaction history.
● Upload a valid identification card National ID, voters’ card, driver’s license, or international passport.
● Upload a photo of your business center to the platform.
● Submit it for review.
The OPay Team will review your request and approve or refuse it.
Types of OPay POS Machines in Nigeria
In Nigeria, there are three types of POS machines which are:
1. OPay Smart (Android) POS
2. OPay Traditional POS
3. OPay Mini POS
How To Get The OPay App
Download the OPay App from Google Play for Android. You can also download the OPay App from the Apple Store for iOS.
Differences Between Traditional OPay POS And OPay Mini POS
1. The OPay Mini POS is less expensive than the OPay Traditional POS.
2. OPay Mini POS cannot print receipts unless you purchase and connect an external printer, however OPay Traditional POS can without the need of a printer
3. To make use of the OPay Mini POS, you need to connect it through Bluetooth to your Android phone, but OPay Traditional POS does not require a phone.
Price Of OPay Pos In Nigeria
Here is the current OPay POS machine pricing in Nigeria:
1. OPay Smart (Android) POS cost ₦60,000
2. OPay Traditional POS cost ₦45,000
3. OPay Mini POS cost ₦10,000
You will receive the device within 24-72 hours of applying for OPay POS as an agent, depending on your location in Nigeria.
OPay POS Operation And Activation
1. Insert a SIM card with an active POS data subscription.
2. Turn on the POS and use your ATM to make a withdrawal/cash out.
3. If the transaction was completed, go into your OPay app and see if you were credited for it. If you answered yes, you can begin using the POS for your business.
Charges For OPay POS And Commission Structure
OPay will pay you commission/bonus from transaction charges as an agent, and the amount of commission you receive will be decided by your current level (the total amount of withdrawal you do monthly).
The commission is placed into the merchant’s account immediately after the purchase, and you as the merchant can cash out your income at any time.
These are OPay POS transaction fees:
● OPay charges 0.5 percent of the transaction amount for withdrawals under ₦20,000.
● OPay charges a fixed cost of ₦100 for withdrawals above ₦20,000.
● OPay charges a fixed cost of ₦10 for deposits of ₦5,000 or less.
● OPay charges a flat cost of ₦20 for deposits ranging from ₦5,000 to ₦10,000.
● OPay charges a fixed cost of ₦30 for transfers over ₦10,000.
The following is the OPay POS commission structure for Data Top Up:
3% commission for MTN
4% commission for Glo
4.5% commission for 9Mobile
4% commission for Airtel
The following is the OPay POS commission structure for TV Subscription:
2% commission for DSTV
2% commission for GoTV
2% commission for Startimes
2% commission for PHCN
Increase your daily terminal transactions to earn more money as an OPay agent.
Frequently Asked Questions (FAQ)
1. What should I do if my POS displays an error?
On your POS, the following problems are possible:
● Communication blunder
● SSL Connection Error
● Wave lost. Try Again.
Please switch off the POS for about one minute, then turn it back on and attempt again to fix these issues.
If you are still experiencing issues, please send a screenshot of the error message to the OPay Team’s business WhatsApp group created by OPay
The team will contact you and assist you in resolving the issue.
2. What should I do if I make a POS transaction but do not see the monies credited to my wallet?
Please report this promptly in the OPay app’s Support area.
Include the transaction number as well as a screenshot of the transaction receipt.
OPay has generated numerous chances for many Nigerians through the OPay Merchant, which allows you to become an agent.
As an OPay agent, you can get their POS machine and carry out money transfers for individuals, withdrawals, and bill payments, which will help you make cash over time.
So, apply today, get your OPay POS machine for free, and start making money.