Moniepoint Review (Is Moniepoint Legit or Scam?)

Moniepoint Review (Is Moniepoint Legit or Scam?)

Moniepoint Inc, formerly TeamApt Inc, was founded in 2015 and licensed by the Central Bank of Nigeria to provide financial solutions for businesses and individuals. The company is one of the most reliable fast-growing mobile money platforms in Nigeria that allows you to carry out financial transactions such as transfers, withdrawals, airtime purchases, bill payments, and many more.

Many Nigerians are earning money from the platform by becoming their POS agent. In addition, a Moniepoint agent can easily obtain a Moniepoint POS machine by contacting the nearest office to you. The POS machine usually costs about N25,000 which is cheaper than other service provider POS machines.

However, a number of Nigerians are still doubting fintech companies like Moniepoint whether they are legit or scams but the platform has proved to be legit. Even the Apex Bank of Nigeria (CBN) has licensed Moniepoint as a mobile money platform. If you want to know about Moniepoint, you are in the right post. Let’s get started….

Read my post on the best pos machines in Nigeria

The Requirement To Become a Moniepoint POS Agent

The following are the necessary documents required to become a Moniepoint POS agent.

  • Bank Verification Number (BVN)
  • A valid means of identification such as a National ID, Voter card, international passport, or any other nationally accepted card
  • Applicant’s bank details
  • Utility bills such as PHCN bill

How To Become a Moniepoint Agent

Below are the steps on how to become a Moniepoint agent in Nigeria.

  • Visit on your browser
  • Download the Moniepoint app to your phone or PC
  • Click on Sign Up
  • Enter your email address and phone number
  • Input the OTP code sent to your phone number
  • Enter your BVN
  • Create your profile to complete the profile creation process.
  • Set up your transaction Pin
  • Provide the necessary information to upgrade your account to Level 1 such as face verification, residential address, business details, and attestation.
  • After completing the account creation, a relationship manager will be assigned to you who will guide you on what you need to do to become an agent.

How To Apply For a Moniepoint POS

After becoming a Moniepoint agent, it is easy to obtain a Moniepoint POS machine simply by contacting their nearest office to you or the relationship manager. Moreover, The POS machine usually costs about N25,000 which is cheaper than other service provider POS machines.

  • Log in to your Moniepoint account
  • Click on Request a POS machine and follow the instructions
  • You would be charged N21,500 for the POS machine and within 48 hours, your POS will be delivered to you.

What Are The Moniepoint POS Charges?

Moniepoint POS charges are relatively low compared to other service providers. You are charged based on the number of transactions you carry out. Unlike other POS providers that charge depending on the bank. Although the charge for withdrawing up to N5,000 is simply N6.2, it increases as the amount withdrawn increases. In addition, the platform does not charge any extra bank fees.

Other commissions offered by Moniepoint

  • MTN 3% commission
  • Glo 4% commission
  • DSTV 2% commission
  • GoTv 2% commission
  • PHCN 2% commission
  • 9mobile 4.5% commission
  • Airtel 4% commission
  • StarTimes 2% commission

The benefit of Using Moniepoint

Below are the major benefits of using Moniepoint services.

  • The platform provides businesses with a convenient and accessible way to manage their finances.
  • It helps businesses to receive payment and transfer funds quickly and easily
  • Moniepoint uses advanced security measures to protect customers’ data and transactions ensuring that businesses can manage their finances with confidence.
  • With the platform, you don’t have to waste your time and effort to visit any bank branch.


Can Moniepoint be Trusted?

Yes, Moniepoint is one of the leading fintech companies in Nigeria licensed by the CBN as a mobile money operator. The platform boasts of having over 600 thousand agents and processes more than 5 trillion Naira monthly.

What are the Benefits of Moniepoint POS?

Benefits of Moniepoint POS

  • User-friendly interface
  • Accepts card and transfer payment
  • It has a good banking network
  • It provides businesses with a convenient and accessible way to manage their finances.

which POS is the best in Nigeria?

Top best POS machines in Nigeria

  • Moniepoint POS machine
  • Opay POS machine
  • Palmpay POS machine
  • Kudi POS machine
  • Access POS machine
  • Firstbank POS machine
  • Zenith POS machine
  • Paga POS machine

Conclusion: Moniepoint Review (Is Moniepoint Legit or Scam?)

Moniepoint offers businesses a wide range of features and benefits that enable users to manage their finances more effectively. You can open an account, receive payment from customers, transfer funds to other accounts, pay bills, purchase airtime, and obtain instant loans.

Moniepoint was established in 2015 and was licensed by the Central Bank of Nigeria in 2019 as a mobile money provider. Since then, the platform helped several businesses and has also proven to be a legitimate platform.

Thank you for reading this article and I hope you got a lot of useful information from the post. Please drop your comment and share the post with your loved ones and friends.




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