How To Start Pos Business With Kuda Bank
Are you planning on starting a POS business? Do you want to know how to start a POS business with Kudi? If yes, then this post is for you.
Starting a POS business is very easy, especially with Kuda formely kudi bank and now nomba bank. It only requires a few steps to register and POS will be given to you for free.
What’s Kuda bank (now nomba) ?
Kuda bank (now Nomba) is a licensed fintech service provider, which specializes in providing mobile and cashless financial transaction services in Africa. They are currently one of the best Point Of Sale service providers in Nigeria. Kuda has now been renamed Nomba.
It only takes some quick procedures in order to get registered as a Kuda agent. Additionally, you can become an agent with them free of charge and be given a Point of Sale terminal machine for free too!
What distinguishes Kuda from other POS service providers is that they offer lower rates per transaction. They charge only 0.7% for every transaction performed by their agents.
Services That Can Be Offered By Kuda Agents
There are a lot of transactions that can be performed for customers by you as a registered Kuda POS agent. You charge customers a fixed amount for each transaction. Some of these include:
1. ATM card withdrawal (Visa, Verve, and Mastercard accepted by Kuda)
2. Money transfer to any Nigerian bank
3. Checking the balance of a bank account
4. Data subscription and top-up of airtime
5. Cable subscription (DSTV, Gotv, Startimes, and so on).
6. Payment of bills (electricity, water, and other bills).
How Much Does It Cost To Start A POS Business With Kuda?
To start any business, you need to know how much it costs to set up the business. Becoming a Kuda agent is free; they don’t charge anything for that. All you have to do is register on their app or website.
In addition, getting a Kuda POS machine is free too. However, there are certain criteria you need to satisfy before you are given a POS machine for free by Kuda.
For you to get a free POS machine from Kuda, first you need to sign up as an agent. Then, you need to have been using Kuda for different transactions for some time. This is to show them you are genuine and ready for business. When your transaction history is satisfactory, you will be notified on how to obtain your free POS.
Another way you can get a Kuda POS machine is by registering with Kuda as an agent. Then you apply for a POS machine, which is also given free of charge. However, you will be asked to pay a caution fee of N20,000 before the machine is delivered to you.
Requirements Needed To Become A Kuda(Nomba) Agent
–An active phone number
–Valid ID (NIN or other means of identification)
–Local bank account
–BVN (Bank Verification Number)
How To Become A Kuda POS Agent
- Download the Kuda app from Google Play or App Store for iOS users.
- Sign up with your phone number and other information.
- Next, link your bank account to your new Kudi account.
- Request to become an agent.
- Fill out and submit the form online.
- Once your application has been accepted, apply for a POS machine.
To get POS machine you will be asked to pay N20,000 as caution fee. After that, you will be notified when your POS machine is ready for pick up (usually a few days after).
It’s much cheaper to start a POS business with Kudi compared to some other service providers. The best part is that they operate effective customer care services with Kudi chatbot, where you can easily lodge a complaint about transactions and get a reply in minutes.
Also, they charge very low rates for transactions. Thereby, making Kuda one of the best platforms for prospective POS agents who want to make more profits.
Early this year, 2022, they changed the name from Kudi to Nomba.