In Nigeria’s current economy, times are tough. Everyone, including POS agents, is looking for ways to diversify, grow their businesses, and increase profits. If you’ve been asking, “How can I grow my POS business?” this post is for you.

Generally, POS businesses in Nigeria are lifesavers for people in underserved communities with limited access to traditional banking services. As a POS agent in such areas, restricting your services to only cash withdrawals means limiting your potential and missing out on extra income. You can grow your POS business and boost your earnings even in this challenging economy.

This post will show you practical ways to expand your POS business beyond cash withdrawals, especially with innovative POS machines like Kashzoo, with features designed to help your business grow and stay ahead.

What to Add to Grow Your POS Business

Add these essential services to your POS business to increase your income and attract more customers:

1. Bill Payments (DSTV, electricity, water, insurance)
   Tip: Some payment platforms like Kashzoo offer cashback on bill payments, which adds to your profits. You can also add your charges to maximise profit.
2. Deposits
   Tip: You can charge customers to help send money to people, deposit into their accounts, or even fund their FX apps, loan apps, e-commerce wallets, and betting accounts safely and conveniently.
3. Airtime and Data Recharge
   Tip: Offer small discounts to encourage repeat purchases. It builds loyalty and keeps customers coming back.
4. Microloan Disbursement and Collection
   Fintech and microfinance banks offer these services through agents.
   Tip: Register with a platform, and you can start offering loans to your customers at a percentage and earn profits with each transaction.
5. Sales of Recharge Cards, SIM Cards, and Phone Accessories
   Tip: Take advantage of foot traffic to sell additional items. Fintech solutions like Kashzoo allow you to buy and print recharge cards from your POS.

Benefits of Growing Your POS Business

Enjoy the following benefits as your POS business grows;

• Increased Visibility and Credibility: Your POS business will stand out if you offer more services. It will also help build trust with new and existing customers.
  
• Higher Profits: The more services you offer, the more transactions. This directly increases your daily earnings.
• Stronger Customer Loyalty: If POS outlet can handle multiple customers needs, they will return and stick with you.
• Competitive Advantage: Add other services to put you ahead of other agents.
• Business Scalability: Diversifying your services makes it easier to grow, expand to new locations, or hire and train others.

Our Take

If you have already started your POS business (see how much it costs to start a pos business in Nigeria), you do not need extra capital to grow it. Your POS machine already has built-in features that can help you scale. Maximise these features, so you can expand your income streams and provide more value to your community. Take advantage of Kashzoo’s great features today and position your POS business for success. You can start by adding one new service this week and see how it improves your business.