How to Apply For OPay POS and become an OPay agent in 2023

OPay, a Chinese-backed Fintech firm, entered the Nigerian market in 2018 and has been making significant progress ever since. Beyond being a mere mobile payment company, OPay functions as a comprehensive mobile platform, offering various essential services for everyday life, including payment solutions, transportation, food and grocery delivery, among others. (how to unlock OPay account)

If you become an OPay agent, you’ll have the opportunity to act as a “mini-bank” within your local community. OPay has swiftly risen to prominence in Nigeria’s Fintech landscape, excelling in various domains, including agency banking. It’s worth exploring the OPay Agent guide to gain more insights.

• Cash withdrawal.
• Fund transfer.
• Instant settlement.
• Check customers’ account balances.
• Payment of utility bills.

This article serves as a helpful guide for you, an OPay agent, to acquire and apply for a POS (Point of Sales) terminal in Nigeria. This terminal enables you to handle withdrawals, transfers, deposits, and more, empowering you to boost your income as a neighbourhood agent. Read our article on the list of all OPay USSD codes in 2023.

Once you successfully register as an OPay agent through the OPay Agent Portal, you can proceed with the application for a POS terminal/machine.

How To Register As An OPay Agent

If you’re an existing user of the OPay app and wish to become an agent, it’s a straightforward process. You’ll need to upgrade your KYC level from KYC 1 to KYC 2. The necessary information to provide for this upgrade includes your BVN, gender status, date of birth, and state of residence.

To transition from an OPay user to an agent through the app, follow these steps:

1. Open the OPay app on your device.
2. Tap on “Account” and then select your current KYC level, located just below your name on the app.
3. Click on “Upgrade to agent.”
4. Upon successful completion of the KYC2 upgrade, you will officially become an OPay agent.

However, if you are new to the OPay agent program and wish to apply, you can follow these steps:

1. Visit the OPay website and click on “OPay Merchants” in the website’s title bar.
2. You’ll find two options: “Create an Online Merchant Account” for signing up as a regular online agent without a POS machine, or “Create a POS Merchant Account” if you want to obtain the POS machine.
3. Fill out the necessary forms for the chosen category of application.

Alternatively, you can download the OPay app from Google Play, if you haven’t already, and register your account by following the provided instructions.

After setting up your account, the next step is to email [email protected] and request an OPay merchant registration form.

By completing these steps, you’ll be on your way to becoming an OPay agent and enjoying the benefits of this opportunity. For a similar article, kindly read our comprehensive guide on Paycenter pos machine.

How to get OPay POS in Nigeria

Once you’ve already upgraded to KYC level 2, the next step in your journey to apply for a POS device is to move up to KYC level 3. Here are the steps to achieve this:

1. Open the OPay app on your mobile device and navigate to the “Me” section.
2. Click on the picture icon located at the top-left corner to access your Account Details.
3. Look for the option “Upgrade to Level 3” and select it.
4. Proceed to upload the following documents:
   • Your picture.
   • A valid ID card (International passport, voter’s card, national ID, or driver’s license).
   • A recent utility bill as proof of address.
   • Your BVN (Bank Verification Number).
5. Once all the required documents are uploaded, click on “Submit.”
6. The OPay team will review your KYC upgrade request within 24 to 72 hours, and you will be notified via email and SMS once it’s approved.

With your successful upgrade to KYC level 3, you are now eligible to apply for a merchant POS terminal. Here’s how you can proceed with the application:

1. Log in to the OPay app on your device.
2. Tap on the “Merchant Apply” icon.
3. On the subsequent page, provide all the necessary information as requested.
4. Upload your transaction history for the past three months.
5. Submit a valid ID card once again.
6. Take a snapshot of your business location and upload it to the portal.
7. Click on “Submit” to send your application for review.

The OPay team will thoroughly assess your application, and if it gets approved, you can expect to receive your POS machine within 24 to 72 hours. Congratulations on reaching KYC level 3 and taking the next step in becoming an OPay merchant!

For a similar post, read our comprehensive article on the Top Fintech companies in Nigeria.

Types of OPay POS Machine

Opay offers three main types of POS machines:

1. Opay Smart POS Machine: This card terminal operates on an Android system, providing advanced functionalities.
2. Traditional Opay POS Machine: The first type of POS machine introduced by Opay, offering reliable payment processing.
3. Opay Mini POS Machine: This type is highly portable and built for durability, ensuring convenience for users.

The prices of Opay POS machines in Nigeria vary based on the type selected:

• Opay Smart (Android) POS: N50,000
• Traditional Opay POS: N35,000
• Opay Mini POS: N8,500

It’s essential to note that the Opay POS application form is free of charge. The payment is solely for acquiring the chosen device.

How to make money using the OPay POS in 2023

Making money with an OPay POS opens up several income-generating opportunities:

1. Airtime / Data: Earn through discounts and vouchers when customers purchase airtime and data on the OPay app. You can benefit from commission-based earnings, making it an easy way to increase your income.
2. TV Subscriptions: Help your customers pay for their TV subscriptions and receive additional commissions. This service comes with zero fees, making it a profitable option for you.
3. Fast & Secure Transfers: Utilize your OPay account to send and receive money in real time from any bank. With low transaction fees, you can attract more customers and generate revenue.
4. Electricity Bill Payments: Offer a convenient way for people to pay their electricity bills through the OPay app. By providing easy payment solutions, you can earn more money from this service.
5. Deposit / Withdrawal Services: Become a neighbourhood “mini-bank” with OPay, as it empowers you to offer deposit and withdrawal services to all customers. This feature can significantly boost your earnings as an OPay agent.

By taking advantage of these diverse services and features offered by OPay, you can maximize your income potential as an OPay POS agent.

OPay POS Business Charges And Commission Structure

Cash Transaction Charges:

• For withdrawals below ₦20,000, OPay charges 0.5% of the transaction amount.
• For withdrawals above ₦20,000, there is a flat charge rate of ₦100.
• For deposits ₦5000 and below, there is a flat charge rate of ₦10.
• For deposits ₦5,001 to ₦10,000, OPay charges a flat rate of ₦20.
• For transfers above ₦10,000, OPay charges a flat rate of ₦30.

OPay POS Commission Structure For Data Top-Up:

• MTN = 3% commission.
• Glo = 4% commission.
• 9Mobile = 4.5% commission.
• Airtel = 4% commission.

OPay POS Commission Structure For Utility Bills:

• DStv = 2% commission.
• GOtv = 2% commission.
• PHCN = 2% commission.
• StarTimes = 2% commission.

OPay POS FAQs

How Much to Apply for an OPay POS Machine in Nigeria?

The OPay POS application is free. Although, the latest official POS prices for OPay POS machines are N50,000 for OPay Smart POS, N35,000 for OPay Traditional POS, and N8,500 for OPay Mini POS.

How long does it take to get OPay POS?

The processing time for pending OPay POS requests is remarkably swift, taking only 24 hours. So, if you submit your application for an OPay POS Machine in Nigeria at 2 pm today, you can expect to have it approved or declined before 2 pm tomorrow. The OPay team will promptly review your request, and you will receive an SMS or email notification to inform you of the status, whether it’s approved or declined.

What if the OPay POS spoils after collecting it?

Once your POS request is approved, a dedicated support team will be available to assist you with any issues. An engineer will also be assigned to help you and other agents in your area. Businesses can start smoothly with their support.

What do I do when I receive an error on my POS?

On your POS, you may encounter the following errors:

1. Communication error.
2. SSL Connection failure.
3. Wave lost. Try Again.

To troubleshoot these issues, start by turning off the POS for approximately one minute. Afterwards, switch it back on and attempt the transaction again. If the problem persists, kindly capture a screenshot of the error message and share it in the WhatsApp group established by the OPay Team for businesses. The dedicated team will promptly get in touch with you and offer assistance to resolve the error.

How do I become an Opay POS agent?

To become an Opay POS agent, you need to sign up on the Opay website and provide the required documentation. Once your application is approved, you will receive training and support from Opay.

How do I use an Opay POS machine?

To use an Opay POS machine, you need to connect it to the internet and follow the instructions on the screen. The device accepts payments through debit cards, QR codes, and mobile payments.