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Point of Sale (POS) Daily Target is the minimum number of transactions that accumulate to a certain amount set by the provider that an agent or merchant is required to meet on their POS terminal per day. However, it's important to note that the POS daily target is not universal; the target amount varies depending on the terminal providers.
The overall reason for imposing a daily target is to keep leased terminals active. For example, Moniepoint POS terminals are not sold to agents or merchants outright. So, to ensure the terminals are not underutilised, providers have to place them on a daily target, and agents or merchants that fail to meet this daily requirement will risk reassignment.
Furthermore, recent CBN directives imposed ₦1.2 million total cash withdrawals per day across all customers for POS agents and merchants. On the other hand, a customer can only withdraw or deposit a maximum of ₦100,000 per day (₦500,000 per week) through POS. According to the apex bank, the limits were imposed to reduce fraud and control cash flow.
This applies to all POS providers and their terminals regardless. Be it Moniepoint, OPay, Palmpay, or Fairmoney POS, once these limits are reached, transactions will fail until the next day. These limits are part of the CBN Guidelines for the Operations of Agent Banking in Nigeria, which were introduced to reduce fraud, improve oversight, and encourage digital transactions.
What is the Moniepoint POS target?
Moniepoint POS usually comes with a daily performance expectation for agents who lease the device rather than fully own it. Meanwhile, unlike OPay POS terminals, Moniepoint POS terminals are not sold out outright. Moniepoint agents are expected to achieve a minimum transaction volume that amounts to ₦50,000 in withdrawals daily, or a weekly target of ₦350,000 if daily isn’t met consistently.
If an agent fails to meet these expected transaction levels regularly, Moniepoint may block the POS business account or even retrieve the POS machine completely and refund a portion of the caution deposit you initially paid. However, if the POS is reassigned, you can contact your Business Relationship Manager (BRM) for support on how you can reactivate your device.
However, it's important to note that the daily target amount varies on Moniepoint POS terminals. Moniepoint considers certain factors and metrics to impose targets on individual agents and merchants. Notably, daily targets ranging from ₦20k to ₦50k have been widely shared by Moniepoint agents and merchants in Nigeria.
It's seen that these targets are more to ensure active usage rather than strict penalties. Meanwhile, upon getting your own POS terminal, your business relationship manager (otherwise known as an aggregator or leader) will explain the target you must meet per day and give you proper training on how to use and operate that payment terminal.
Fact Check: Does Moniepoint POS Have a Target?
Yes, Moniepoint POS terminals have a daily target that ranges from ₦20k to ₦50k or ₦140k to ₦350k if the daily targets are not met consistently. But if the targets are not met, you should transfer the remaining amount from other bank accounts to fulfil the requirement and refund the money. However, this may cost you an electronic transfer levy if the amount is ₦10,000 or above.
FAQs
Which POS Machine Doesn't Have a Target?
Nomba Mini POS, Kuda POS (if purchased outright), Opay POS (outright), and some Budpay terminals are some of the POS terminals that don't have daily or weekly targets in Nigeria (2026). The providers of these payment terminals give agents and merchants the option to purchase the terminals outright, allowing them to own the ownership and freedom from strict daily limits. Even some providers like Supply Smart are offering target-free purchase options.
How Much is Moniepoint Android POS?
The Moniepoint Android POS machine lease model costs ₦21,500 total initially in caution fees. This money is deposited for deposits for caution, logistics, and insurance, and the agent will continue meeting a daily transaction target. You can contact your BRM for more information about the terminal. But it's worth noting that Moniepoint is no longer producing Android POS terminals. Rather, the company channels its terminal productivities on Moniepoint SmartPOS, Mini POS, and Moniebook.
Where Can I Buy a Moniepoint POS Machine?
You can buy a Moniepoint POS machine by signing up for their business account online or via their business banking app. After signing up, complete your KYC and proceed to requesting a terminal through your dashboard. You'll need to pay the required caution fees of ₦21,500. Once the payment is made, the company will assign you a business relationship manager that will contact you and discuss how you're going to get your terminal and proper training.
