The Latest PayCentre POS Charges in 2023
PayCentre POS Charges 2023 — Latest Rates
PayCentre POS is one of the several businesses that offer cashless transactions in Nigeria. It has gained popularity because of its ability to process transactions easily and quickly. Though specifically designed for both merchants and agents, it is more profitable for agents who can generate a lot of profits on a day-to-day basis.
This platform allows stress-free transactions such as sending and receiving money, paying bills, and making other transactions easily through its Point of Sale (POS) terminal machines. Do you want to find out more about PayCentrePOS charges? You are on the right page! Come with me.
About PayCentre POS Machine & Charges
PayCentre POS machine is designed in a simple and effective way to aid merchants, agents, and customers in making seamless transactions. It also has a security feature that helps to protect and keep the information of both the customers and agents or merchants secure.
In order to operate the Pay Centre terminals, a nonrefundable sum of N25,000 naira is to be made which covers registration and access to the POS. Also, it is worthy of note that a monthly fee for maintenance is mandatory.
To apply for a PayCentre POS machine, ensure that you have:
- An active bank account,
- Valid ID,
- Passport,
- BVN,
- Signature
- Recent utility bill.
Once your application is approved, you will be required to pay the necessary fees and training will be conducted to inform you on how to use the terminal. Once that is done, you are free to begin to operate the PayCentre POS machine.
Read also: PAYSTACK POS TERMINAL: ALL YOU NEED TO KNOW
PayCentre POS Withdrawal Charges
PayCentre charges 0.5% for all withdrawal transactions below N20,000 naira. That is, any withdrawal below that sum will be charged 0.5%. Meanwhile, for withdrawals between N20,000 naira and N1,000,000 naira, a flat rate of N100 naira applies.
PayCentre POS Transaction Charges
Aside from withdrawals and deposits, PayCentre allows for other transactions such as transfers, purchasing airtime, and payment of bills and subscriptions. Charges also apply to these transactions, hence, PayCentre charges a flat rate of N20 naira for transfers, and a commission of 2% for transactions on Airtime and charges only 1% for all other bills or subscriptions.
It is worthy of note that PayCentre POS charges a maintenance fee of N500 monthly or N5000 per annum after 1 year if you got the terminal before December 1st, 2021. However, if you got your device after December 1st, 2021, the maintenance fees are charged based on the details below after three months;
- If you make between 0 to 20 transactions daily; you will be charged a sum of N500 naira monthly or N750 naira monthly for the small and big POS respectively.
- If you make between 20 to 30 transactions daily; you will be charged N250 naira or N500 naira monthly for the small and big POS respectively.
- If you make between 31 to 40 transactions daily; you will be charged N100 naira or N250 naira monthly for the small and big POS respectively.
- Lastly, if you make 40 transactions and above daily; you will not be charged maintenance fees at all.
Like many others, are you wondering why the maintenance fee is being charged?
Here’s why! It covers up to N50,000 naira Insurance cover in case anything bad happens to the business and another N50,000 naira insurance cover if the agent suffers any form of personal injury. He is also entitled to a lifetime pension and Welfare support designed for their agents.
PayCentre POS Deposit Charges
For all deposit transactions, PayCentre charges a flat fee of N20 naira. This means that irrespective of the amount to be deposited, only the sum of N20 naira will be charged.
Quick Comparison Table: Top Machine Charges
| Withdrawal | Deposits | Transfers | Subscriptions | |
| PayCentre | 0.5% | N20 naira | N20 naira | 1% |
| Opay | 0.5% | N10 naira | N10 naira | 2% |
| Moniepoint | 0.5% | N20 naira | N20 naira | 2% |
| Palmpay | 0.5% | N10 naira | N10 naira | 2% |
Conclusion
PayCentre POS is a platform designed for merchants and agents to reduce the stress and delay that accompanies making transactions by individuals and businesses by providing a platform that allows secure, stress-free, and quick transactions to be made.
Lastly, you can get the PayCentre POS machine for the sum of N25,000 naira once you’ve met all the necessary requirements.
Read also: The Complete List of POS Charges In Nigeria
FAQs on PayCentre POS Machine & Charges
How much is PayCentre POS price?
PayCentre POS machine costs N25,000 naira only, inclusive of the registration.
What do I need to get PayCentre POS Machine?
In order to acquire the PayCentre POS machine, you must have an active bank account, valid ID, passport, BVN, signature, and a recent utility bill. Also, you will be required to pay a one-time sum of N25,000 naira.
Is PayCentre licensed by CBN?
Yes, like many other POS operators, PayCentre POS is duly recognized by the Central Bank of Nigeria.