Benefits of Moniepoint Business Account for Nigerian Entrepreneurs

Benefits of Moniepoint Business Account for Nigerian Entrepreneurs

Nigeria's informal sector is saturated with point-of-sale (POS) entrepreneurs who use the payment terminals to collect card payments from their customers or use the terminal to extend financial inclusion to the underserved communities. Moniepoint is one of the major financial companies in Nigeria that's delivering these POS machines to these businesses and entrepreneurs. As of December 2022, Moniepoint accounted for approximately 20.06% of the POS agents in Nigeria, with 303,946 agents out of a total of 1.5 million POS agents in the country. As of March 2024, Nigeria had approximately 2.69 million POS terminals deployed. Moniepoint, a leading player, had 611,213 agents by mid-2023, and each agent may operate one or more terminals. Although this data is from the previous years, it's to show that Moniepoint POS is widely used in the Nigerian informal sector alongsideits biggest competitor, OPay POS. In essence, the Moniepoint Business Account is the driver of Moniepoint POS. Wit…

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