Frequently Asked Questions (FAQs) on POS

1. Why Should I Use a POS System?

Every retailer, business-to-consumer (B2C), or business-to-business-to-consumer (B2B2C) product or service dealing with payment collection should consider using a POS system. A POS system enables easy and instant payment collection, even without cash. It can also serve as a stand-alone business, which is now common in Nigeria. 

• Cash withdrawals, deposits, and transfers
• Bill payments, including electricity and utility
• Health insurance renewal
• Bet account funding
• Cable TV payments, including DStv & GOtv
• Solar purchases and repayments (peculiar to FaziPay)

Furthermore, a POS system provides the software plus hardware package to organize and seamlessly manage your business. It saves time and is a very efficient way of handling every area of the company. These benefits can improve customer experience in addition to sales programming, reporting, and inventory management. 

The POS records can take care of product reconciliation, expiration, order alerts, and theft prevention. Learn more about the services on the Fazipay POS and their respective bonuses and commissions here. 

2. How Much Does POS Software Cost? 

Subscribing to the POS service may vary from one provider to another, depending on several factors. Examples include the complexity of the software, the quantity of terminals, and several users. However, you can get the FaziPay POS for N10000 only caution fee – the cheapest in Nigeria. So you get lower charges on FaziPay and extra income from solar sales. 

3. How do I become a POS Agent? 

The question that comes to mind is how to become a POS agent. It is easy to join the community of FaziPay POS Agents. Follow the simple steps below

1. .Register as an agent via https://fazipay.com/register or download the FaziPay app.
2. Fill in your credentials. 
3. Submit the required documents.
4. We review and onboard you.
5. Pay caution fee 
6. We deliver the POS terminal
7. Begin transacting

4. Do the POS software and hardware need to be purchased from the same vendor?

The POS software and hardware should work seamlessly without any problem. So, it is advisable to get both parts from the same vendor. If the POS terminal’s cloud software features an online connection, it should be compatible with a cloud software system. On the other hand, using an already installed software with your POS terminal may come at a lower price than getting them separately. 

5. Is an industry-specific POS system necessary?

You want to have a POS service provider with the license to conduct financial transactions and manage agents in the industry. Otherwise, you may be dealing with a third-party company that depends on another company to serve your POS needs. While it is not a golden rule, registered mobile money operators (MMOs) and payment service banks (PSB) are the companies with the CBN license to render POS service. 

Another limitation to using a POS service provider with no industry standing is the limit of service features. The features you need on your POS terminal may determine which company to partner with for POS services. Then, will the company be able to customize your payment solution for your business-specific needs? Is their service dependable, and will it allow your business to scale up in the future?

6. If the server should stop working, would the terminal be able to process a sale?

The strength of a server is one of the most important factors to consider when choosing a POS service provider. You cannot afford to partner with a POS agency with a poor server. FaziPay, on the other hand, offers a strong and dependable network based on a safe and secure cloud server. In addition, some POS software comes with an offline mode that allows the machine to work even when the server is down. It then reconciles all transactions when the server is restored. 

7. Can I transfer my data from a current POS to a new POS software system?

In many cases of cloud storage, you can transfer your data from one POS terminal to another. Moreover, this data exists in a centralized database, and data security is a factor to consider in choosing a POS service provider. For example, FaziPay provides optimum security for the transaction data on your terminal. Meanwhile, if you need additional cloud server storage or service, Swifta Cloud Services provides extra server power. 

8. Is it possible to operate the POS software from a home computer?

Yes. The POS software can often be linked with more than one hardware. This may include a personal computer or mobile device. In addition, it helps to diversify the payment option, which is trendy.

9. Can I analyze customer data with a POS?

In addition to sales and inventory management, a POS terminal is excellent at managing customer details. Therefore, the business owner can store, organize, and retrieve customers’ data anytime. This may be helpful for customer loyalty programs and other needs. It could also be instrumental in comparing categories of products or services.

10. Can I add other businesses to my POS Business?

Yes, why not? POS service is one of the most accessible options you can add to other existing or planned businesses. Whether your business involves direct payment collection or not, you can combine it with a POS business. Get a terminal, promote your new service with marketing materials, and let the transactions begin. For instance, POS services can work with supermarkets, retail stores, and other businesses.

Other examples of businesses you can run with your POS business include

1. Solar product retailing
2. Printing and sale of recharge cards
3. Utility service centers (CableTV and Data subscription centers)
4. Sale of phone accessories
5. Phone charging services
6. A business center
7. Electronics sales and service store
8. Tailoring and other craft businesses
9. Retail stores, mini-marts, and supermarkets

Learn about how to integrate the above businesses with your POS service.