Running a POS business in Nigeria isn’t beans. You wake up early, grab your kiosk key or umbrella and then pray the network behaves. Some days go well, but other days do not. But you’re not alone. And you don’t have to keep learning the hard way.
This guide will guide you towards how to earn more commission from your POS business. Here are some practical, must-know tips to run your POS business without falling.
Ways To Running a POS Business Without Being Scammed
The total fraud losses recorded by Nigerian banks in 2024 is N52.26 billion from over 70,000 transactions, according to the Nigeria Interbank Settlement System (NIBSS). As a POS operation, here are a few ways you can do to avoid been scammed.
1. Don’t Be in a Hurry
Scammers are everywhere now, and their tricks keep getting smarter. One common one? Fake transfers. They’ll show you a screenshot or SMS and rush you to give out cash. Please don’t fall for it.
Always confirm payment directly from your POS app or mobile banking app. Take a deep breath. Don’t rush. Double-check before giving out cash. That extra 30 seconds can save you thousands of naira or determine where your business fails permanently.
2. Carry Your POS Everywhere
Your POS terminal is your money-maker. Always keep it in sight. Never leave it unattended, not even for “just one minute.” Leaving it unattended gives someone opportunity to easily tamper with it, move funds, or change transaction figures without you even noticing. Thankfully, NowNow POS is small so you can take it with you everywhere , just like your phone.
3. Don’t Keep Large Cash With You When Running Your POS Business
The more cash you hold, the more attention you attract and not the good kind. Fir instance, a colleague once shared how someone pretended to do a transaction while two others tried to grab their cash. Luckily, most of the money had already been transferred out. As you collect money, transfer it to your bank account regularly. Avoid keeping large sums in your cash bag or drawer.
4. Be Security Conscious Always
Your location matters so choose a place that’s open and easy to monitor. Avoid areas where people can crowd around you or block your view. Don’t work in corners, dark spots, or isolated places. As evening approaches, start packing up. It’s better to close early and be safe from robbers or thieves than to risk trouble.
5. Pay Attention During Every Transaction
When you’re handling a transfer or card payment, stay alert from start to finish. Especially when you hand over the POS machine for the customer to enter their PIN, don’t look away.
Before you approve any transaction, double-check the amount showing on the screen. Some tricky customers may try to quickly change the figure, hoping you won’t notice. If you’re not paying attention, you could lose money without realizing it. One small mistake could cost you money, so keep your eyes on every step.
6. Handle Network Issues Like a Pro
When a customer says they’ve been debited but you’ve seen nothing on your end, don’t panic or start arguing. Instead, calmly and confidently explain. It could be a network issue. Kindly advice your customer by saying;
- Let’s give it 24 hours.
- Here’s the POS or bank customer care number.
- If it clears later, come back and I’ll help you sort it out
Always keep records when running your POS business. Take screenshots of failed or pending transactions. Protect your business with calm and confidence.
7. Know When to Say No And Mean It
While running your POS business, you’ll meet all kinds of requests:
- “Give me cash, I’ll send it later.”
- “Use your card to help me recharge.”
It may sound harmless, but it’s risky. Remember, this is your business, not a charity. So be kind, but firm. Set boundaries and stick to them. If something feels off, it probably is.
Bottom Line
Every day in the POS business teaches you something new. Don’t just learn and move on share your lessons. You might just save another agent from falling into a trap.