How Much Does Moniepoint Charge Per Transaction | Check Requirements & Request for Your Moniepoint Machine

Moniepoint which is known as POS is one of the mobile money merchants we have in Nigeria that makes use of the point of sales (POS) machine as their main device to make transactions like other companies like Opay, Access Closa, UBA Moni, MoMo Agent, and others do.

You can only have the POS device if you are an agent and you have been licensed and at the same time vetted in the process of Know Your Customer (KYC).

The reason why Monipoint was introduced is to give employment to many youths who are unemployed, and also to give them the opportunity to become a “min –bank” so that the people that are around them can easily go to them and make their transactions like they would in the bank.

The Moniepoint Charges and Commission Structures

Moniepoint takes its charges depending on the amount of transaction that you want to make. But if it is your first time to make a transaction with Moniepoint, we will list out the commissions and charges by Moniepoint POS.

  • For transactions that are above N20,000, you can be charged a flat rate of N100 by Moniepoint.
  • If it is a transfer, Moniepoint charges a flat rate of N20
For Data Top-Up:

MTN 3% commission

Glo 4% commission

9Mobile 4.5% commission

Airtel 4% commission

For TV Subscription:

DSTv 2% commission

GOTv 2% commission

PHCN 2% commission

Star Times 2% commission.

Requirements Needed to Apply for a Moniepoint Machine

To apply for a Moniepoint machine, make sure that you have the requirements that are listed below.

  • You must be above 18 years
  • Be a citizen of Nigeria
  • You should be responsive and tech-savvy, finally
  • Make sure you have a smartphone.

How to Request for Moniepoint Machine

it is faster and easier to request for Moniepoint machine than other merchants. You can get a Pos machine as long as you have the basic requirements that were mentioned above, then you can begin by;

  1. First, create an account on their official website at
  2. You then click on Get started
  3. After that, enter your full name, email, phone number, and other details that are needed
  4. Then you choose the other POS merchants that you are working with (if any), then Submit.

As long as you are a new user of Moniepoint, and you just signed up on the platform, Moniepoint will surely confirm and also contact you within 47 hours.

After that, the manager of agents will complete the remaining process. you can also visit their physical address at No 2 Wole Ariyo Street, Lekki Phase 1 office for your registration to be completed.

When they have contacted you, you will be mapped to an aggregator and then, you can get everything done in a short period of time.

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Requirements to Complete Moniepoint Agency Registration

After you have been mapped to an aggregator, they will require some documents which we will be listing below. and those documents are part of the KYC (Known Your Customer) policy. Below are the documents.

  • They will need a valid identification card like an International passport, NIN, Voters’ card, or Driver’s license
  • Utility bills like Waste bills Electricity bills, Land-use charges, water bills, or tenancy agreements.
  • They will also need CAC documents for registered businesses only
  • Your BVN
  •  And a standard account number in any commercial bank.

How to Upgrade Your Moniepoint KYC Level

As we all know Moniepoint KYC means Know Your Customers. upgrading it determines your daily transfer limit. Many of us do receive alerts that say “Your transaction has exceeded the daily transaction limit” meaning that you have to upgrade your KYC level 1.

To upgrade your Moniepoint KYC, follow the steps below.

  1. First, log in to your Moniepoint dashboard
  2. Then you click on the menu and app on settings
  3. You will be shown the current level that you are in, then click upgrade and provide the important pieces of information that you need. That is all for you to upgrade your Moniepoint KYC.

But if you can’t do the upgrading by yourself, you can contact the Monieoint teams for your KYC-level upgrade.

Where to Download the Moniepoint Application

You can download and install the Moniepoint app at the Google Play Store and App combo.

  • Install Moniepoint app on the Google Play Store
  • Download the Monipoint app on Appcombo.

There are many other apps on this platform that claim to have the same name as the Moniepoint app, But if you want to get a real app download, below is the app information.

  • Name: Moniepoint Official service
  • Size: 2MB
  • Developer: TeamApp limited
  • Download by: 10,000+

How to Unlock Moniepoint Terminal Account

What makes  Moniepoint account to be terminal is when the agent puts in the wrong pin three times. therefore, you can use this to unlock your terminal without contacting the support team.

  1. First, log in to
  2. Then you go to your agent profile
  3. After that, request for reset of the pin
  4. Then you put your password
  5. Confirm the new pin
  6. Then save changes and restart the terminal
  7. After all this, your terminal has been blocked.

Interest Rate for Moniepoint

Moniepoint merchant loan has an interest rate of 0.3% daily or 0.0125 for each hour. This is to tell you that if a merchant borrows funds from Moniepoint, they will be charged an interest rate of 0.3% of the loan amount every day or 0.0125 every hour until the loan is repaid.

it is necessary for merchants to consider the terms and conditions of the loan carefully before it can be availed. They also need to be aware of the interest rate and the repayment schedule to make sure that they can be comfortable while managing the loan and also meet their obligations on time.

The interest rate can also have a significant impact on all the costs of borrowing, Merchant also needs to go through their financial situation and needs before they can decide to take a loan from Monipoint or any other financial institution.

There is transparency and clear communication between the merchant and Moniepoint as these are essential to ensure a successful borrowing experience.


Choosing Moniepoint as your trusted fintech partner is a very good option. I believe that this article guide you on the charge rates of Moniepoint.

Moniepoint also makes sure that the customers of Monipoint users are not bordered with additional charges from other banks during withdrawal transactions.

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