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POS Business Survival Checklist: What Every Agent Must Do Daily to Avoid Losses 

Starting a POS business in Nigeria looks easy from the outside: get a POS machine, grab a chair and table, and wait for customers. After all, people need cash every day, so how hard can it be? But the real challenge is what is your POS business survival level POS business is about survival as much as it’s about making money. 

Talk to experienced agents and you’ll hear stories of how many POS agents have lost their entire float to scams, fake alerts, or even theft. Some were dragged into fraud syndicates just because they allowed strangers to “use” their terminals. 

That’s why this post shares POS business survival checklist, practical daily habits that will protect your money, your business, and your peace of mind. 

 

POS Agents Safety Tips in 2026

 

1.Screenshot Is Not Enough Evidence 

A customer flashes a mobile banking screenshot and insists they’ve transferred money. Many agents have fallen for this, only to realize later the screenshot was fake. 

What to do: 

  • Don’t release cash until you confirm the funds in your merchant app balance or transaction history. 
  • Always ask the customer to wait while you check. If they rush you, that’s a red flag. 

 

2. Print Receipts and Keep Yours Safe

Disputes happen. Customers may claim they didn’t get cash or that you shortchanged them. Without receipts, it’s your word against theirs. 

What to do: 

  • Always issue a receipt and keep a copy for yourself (or back it up digitally). 
  • At closing, reconcile receipts against your float to spot discrepancies early. 

 

3. Don’t Let Strangers “Use” Your POS Machine

Letting strangers use your POS is a mistake that could destroy your POS business survival chances. What seems harmless may later connect your terminal to fraudulent transactions. 

What to do: 

  • Politely decline strangers who want to “use” your device for deposits. 
  • For regulars, record their name, phone number, and ID. 
  • Never allow someone else to operate your device unsupervised. 

 

Read: How To Start a POS Business in Nigeria (Without Wasting Money or Time)

4. Control Large Cash Withdrawals

Fraudsters often test agents with big withdrawals. Giving out huge payouts to people you don’t know makes you a target for scams or robbery. 

What to do: 

  • Set a reasonable withdrawal cap (₦20k–₦50k) until you know the customer. 
  • For larger withdrawals, ask for and record a valid ID. 

 

5. Prioritize Physical Safety

It’s not only fraud you should worry about, theft and robbery are real threats. 

What to do: 

  • Choose a safe, well-lit location. 
  • Keep your float lean and restock in smaller amounts during the day. 
  • Trust your gut. If a transaction feels unsafe, cancel it. 

 

6. Keep Float and Personal Cash Separate

Mixing your own money with your POS business cash is both confusing and risky  

What to do: 

  • Dedicate a wallet or purse for your POS money. 
  • Don’t keep all your cash in one place; split it into smaller amounts. 
  • This minimizes loss if you get scammed or robbed. 

 

7. Secure Your Device and Accounts

Many agents lose money not because of fraudsters, but because of their own carelessness. 

What to do: 

  • Never share your merchant PIN or settlement login. 
  • Train your staff and monitor their transactions. 
  • Change default passwords, disable unused features (Bluetooth/NFC), and secure your Wi-Fi. 

 

8. Learn How Chargebacks Work

Chargeback is a common scam where a customer pays with their card, then later calls their bank to claim it wasn’t them. Without evidence, the bank reverses the money and you lose both the cash and commission. 

POS business survival tip: 

  • Keep receipts, timestamps, CCTV footage (if available), and customer details. 
  • Record phone numbers and NINs in your logbook. 
  • Evidence is your only defense. 

 

POS Business Survival: What to Do If You Suspect a Scam 

Even the most careful agents face fraud attempts. How you react determines if your POS business survives.

  1. Stop payouts immediately. 
  1. Document everything (screenshots, timestamps, customer details). 
  1. Report to your POS provider/acquiring bank and get a ticket ID. 
  1. Follow up in writing (SMS or email). 
  2. File a police report—it’s often required by banks and regulators. 

If you’re a NowNow POS agent, you can report cases directly to their fraud desk via email. 

 Conclusion 

The POS business without daily survival habits, your business could collapse in months. Think of this checklist as your POS business survival toolkit. Practice it until it becomes second nature. In this line of work, survival isn’t luck, it’s discipline.  If you’re about to start a POS business in Nigeria, bookmark this checklist. It could be the difference between surviving or shutting down within six months. 

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