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In recent years, Opay, a Nigerian fintech company, has made waves in the financial services industry by offering a range of services, including the provision of POS machines. If you’re considering venturing into the lucrative world of Opay POS services, this blog post will serve as your ultimate guide, covering everything from POS machine prices to eligibility criteria and the application process.

Opay POS Machine Prices in Nigeria:

One of the most enticing aspects of working with Opay is the cost of acquiring their POS machines – it’s free! Opay provides these machines at no cost to customers, making it an attractive option for those looking to join the POS business. If you’re eager to get started, here are the latest estimated prices in Nigeria (as of March 7, 2023):

  1. Brand new Opay POS terminal: N54,000 – N60,000
  2. Opay Traditional POS: N55,000 – N62,000
  3. Opay MPOS (new): N20,000 – N25,000
  4. Android Opay POS machine: N70,000 – N73,000

Note: Prices are subject to change due to company adjustments and market forces.

Eligibility Criteria to Apply for an Opay POS Machine:

Before you can apply for an Opay POS machine, you must meet specific eligibility criteria. Here’s a checklist of requirements:

  1. Own and operate an Opay account.
  2. Bank Verification Number (BVN).
  3. Bank account number.
  4. Valid means of identification (National ID card, driver’s license, voter’s card, or international passport).
  5. Recent utility bill (electricity bill, not older than 3 months).
  6. Passport photograph.
  7. Picture showing the venue for operating the business.
  8. High volume of transactions on your bank statement.

How to Apply for an Opay POS Machine in Nigeria:

The application process for an Opay POS machine is straightforward. Follow these steps:

Step 1: Download Opay Business App

  • Download the Opay Business app from Google PlayStore or Apple Store.
  • Sign up and set up your account.

Step 2: Upgrade to KYC 3

  • Tap on the “Account” icon and upgrade to KYC 2.
  • Upgrade to KYC 3 by providing additional documents (proof of address, passport photograph).

Step 3: Switch to Merchant Profile

  • Log in, tap on your name, and select “Upgrade to Merchant.”
  • Provide business information and wait for approval.

Step 4: Apply for the POS Machine

  • Log in and tap on “Merchant Apply.”
  • Provide necessary information, upload bank statements, identification, and business venue picture.
  • Submit the application and wait for approval.

Step 5: Pick up Your POS Machine

  • Once approved, visit the nearest Opay office to collect your POS machine.


With Opay’s straightforward application process and free POS machines, becoming an Opay POS operator has never been easier. Follow these steps, meet the eligibility criteria, and soon you’ll be providing convenient financial transactions in Nigeria. Stay tuned for updates on prices and application procedures to keep your business ahead of the curve.

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