BUSINESS
How to register and activate Opay POS machine

How to register and activate Opay POS machine
OPay is a mobile financial platform that offers various services like money transfers, bill payments, and mobile top-ups. Among these services, OPay’s Point of Sale (POS) terminals are quite popular as they enable merchants to accept payments via customers’ mobile phones, or debit cards. POS business in Nigeria is a very lucrative business venture, especially in today’s digital era.
Opay POS machines have gained immense popularity as a leading payment processing solution in Nigeria since their introduction in 2010. Their reliability, user-friendliness, and a range of convenient features have made them a top choice for both merchants and consumers. In this article, we’ll give you a step-by-step guide on how to get an OPay POS machine, what you need to apply, and the fees involved.
About OPay
OPay is a leading mobile payment and financial services platform that has redefined the way individuals in Nigeria access and manage their finances. With a commitment to equalizing financial inclusion, OPay offers a wide range of essential services, from payments and transfers to loans and savings.
One of OPay’s notable features is its role as a Fintech Company, empowering agents and merchants with POS machines to carry out retail transactions and generate profits. This innovation has significantly impacted the local economy, providing opportunities for entrepreneurs to thrive. OPay has an impressive user base with 18 million registered app users and a network of 500,000 agents in Nigeria.
How to Become an OPay Agent
To become an OPay agent is quite easy, especially if you’re an existing user on Opay. If you already have an account on Opay, then follow these steps to upgrade your KYC (Know Your Customer) from level 1 to level 2 and become an OPay agent:
- Open your OPay app.
- Click on “Account” and tap on your current KYC level, located just below your name in the app.
- Select “Upgrade to agent.” Once you’ve successfully upgraded to the 2nd level KYC, you’ll automatically become an OPay agent.
NOTE: You’ll need your BVN and essential personal details, such as your gender, date of birth, and state of residence to complete your KYC.
How to Become an OPay Agent (New Users)
If you’re entirely new to OPay and wish to begin your journey as an agent, here’s how to get started with your agent registration:
- Visit the OPay website and click on “Merchant” in the title bar.
- Choose “Create an online merchant account” if you want to become an online agent without a machine, or select “Create a POS Merchant Account” if you intend to receive a Point of Sale (POS) machine.
- Once you’ve set up your account, send an email to ng-support@opay-inc.com if you’re registering via the OPay app to request the OPay merchant registration form.
- Fill out the application forms displayed on the portal.
NOTE: You’ll need your BVN and essential personal details, such as your gender, date of birth, and state of residence to complete your Opay merchant registration.
What are the Requirements to Apply for an OPay POS Machine?
To be eligible for an OPay POS Machine, please ensure that you fulfill the following criteria:
- You must be at least 18 years of age.
- You should possess a legitimate government-issued identification document (such as a National ID, Driver’s License, or Passport).
- You are required to hold a valid business registration certificate or business name registration certificate.
- Your business should have a valid physical address and an active phone number.
Additionally, please be aware that OPay reserves the right to perform a background check on both the applicant and the business prior to granting approval for the application.
How to Get an Opay POS Machine
Acquiring an Opay POS machine in Nigeria is a straightforward process. If you’ve already upgraded your account to KYC level 2, you’ll need to progress to level 3 to apply for a POS device. Follow these steps:
- Launch your OPay app and navigate to the “Me” section.
- Click on the picture icon located at the top left to access your Account Details.
- Choose “Upgrade to Level 3.”
- Upload your photo.
- Submit a valid ID card (International passport, voter’s card, national ID, or driver’s license).
- Include a recent utility bill.
- Provide your BVN (Bank Verification Number).
- Submit your application.
The OPay team will assess and approve your KYC upgrade within 24 to 72 hours, and you’ll receive email and SMS notifications confirming this.
Once you’ve successfully reached KYC level 3, you can apply for a merchant POS terminal by following these steps:
- Log in to the OPay app on your device.
- Tap on the “Merchant Apply” icon.
- On the following page, input all required information.
- Upload your transaction history for the past 3 months.
- Include a valid ID card.
- Take a picture of your business location and upload it to the portal.
- Submit your application for review.
The OPay team will review your application, and if approved, you’ll receive your POS machine within 24 to 72 hours.
How Much is OPay POS Machine?
The OPay POS machine doesn’t cost anything initially, as the application is free. But you need to have at least ₦20,000 in your OPay Wallet as a caution fee. This amount will be taken from your wallet once your POS request is approved. The caution fee is refunded only when you return the POS terminal to the company as an agent.
OPay POS Charges & Commissions
Here’s a simplified breakdown of the charges and commissions for OPay POS services
Cash Transaction Charges:
- Withdrawals below ₦20,000: 0.5% of the transaction amount.
- Withdrawals above ₦20,000: ₦100 flat charge.
- Deposits ₦5,000 and below: ₦10 flat charge.
- Deposits ₦5,001 to ₦10,000: ₦20 flat charge.
- Transfers above ₦10,000: ₦30 flat charge.
Commission Structure for Data Top-Up:
- MTN: 3% commission.
- Glo: 4% commission.
- 9Mobile: 4.5% commission.
- Airtel: 4% commission.
Commission Structure for Utility Bills:
- DStv: 2% commission.
- GOtv: 2% commission.
- PHCN: 2% commission.
- StarTimes: 2% commission.
Conclusion
The process of applying and obtaining Opay POS machine is now more accessible than ever. With just a smartphone you can apply for a POS terminal from Opay. Simply follow the steps outlined in this article to get your Opay POS up and running. And with Opays lucrative offerings and cheap commissions, starting a POS business using the Opay POS terminal is a great business idea.
Frequently Asked Questions
How do Opay agents make money?
Opay agents make money by charging a commission from every transaction done on their platform. The amount they charge as commission depends on the type of transaction and the transaction’s value.
Is there a maximum transaction amount limit for a merchant?
Yes, the transaction limit for OPay merchants is 5 million Naira per day.
How long does it take for a reversal on OPay POS?
OPay reversals reflect instantly in the cardholder’s account.
Are there any charges involved in the registration and activation of an OPay POS machine?
No, there are no charges for registering and activating an OPay POS machine.
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BUSINESS
Resilient Future: The 2023 West Africa Property Investment Summit

Charting a Resilient Future: Insights from the 2023 West Africa Property Investment Summit
In a significant gathering of real estate influencers, the West Africa Property Investment Summit 2023, which took place on Wednesday, 23rd November, brought together leading figures from Kenya, Ghana, South Africa, and Nigeria. Under the theme “Rewriting the Narrative: Positioning & Strategies for the Future,” the summit served as a vibrant forum for in-depth discussions and strategic planning, aiming to shape the trajectory of West Africa’s real estate landscape: “Industry Leaders Chart Course For Resilient Future At The 2023 West African Property Investment Summit.”
Resilience in the Face of Macroeconomic Challenges
One of the key speakers, Mr Tola Akinhanmi, the Head of Real Estate Finance at Stanbic IBTC, took centre stage to address the challenges posed by the current macroeconomic environment. Despite grappling with inflation, exchange rate volatility, and fluctuating interest rates, Akinhanmi’s message was one of resilience. He underscored the real estate sector’s intrinsic strength, characterizing it as a long-term asset class that provides essential business infrastructure supporting people’s livelihoods, work, and recreation. Akinhanmi highlighted Stanbic IBTC’s commitment to working closely with sponsors, understanding assets, and structuring solutions that ensure stability, allowing these assets to remain relevant through various economic cycles.
Optimism for 2024: A Balanced Outlook
Oladapo Runsewe, the Projects and City Reports Lead at Estate Intel provided a positive outlook for 2024. Citing statistics from the Nigerian Bureau of Statistics that indicated an increase in the real construction sector’s contributions to the GDP in the last quarter, Runsewe foresaw a balanced and positive effect on the market. He emphasized the inevitability of construction and development continuing, driven by the ongoing demand for housing and real estate investments. However, Runsewe highlighted the imperative for collaboration, urging industry participants and the government to join forces on a larger scale to address the substantial housing deficit, particularly in urban centres like Lagos.
Sustainability as a Driving Force
Temilola Shonola, Head of the Edge Program at the International Finance Corporation (IFC), brought attention to the importance of sustainable building practices. Shonola urged developers to embrace green building, dispelling the misconception that it is an expensive endeavour. She introduced the IFC’s free App designed to simplify the green certification process, making it accessible for builders looking to contribute to environmental sustainability. Shonola stressed that more of the market need to adopt green building practices, not only for environmental reasons but also as a means to reduce utility costs and ensure long-term impact.
Navigating the Commercial Real Estate Cycle
Pepler Sandri, the Director of Capital Markets at JLL, delved into the complexities of the commercial real estate cycle. Acknowledging the sector’s challenges and the impact of the global COVID-19 pandemic, Sandri painted a picture of recovery and resilience. He noted that Nigeria, like many other countries, faced unique macro issues affecting its recovery. Looking ahead, Sandri expressed optimism as interest rates stabilize, predicting a potential recovery in the next 6-12 months in global developed markets. However, he cautioned that Nigeria might experience a longer recovery period, echoing sentiments from Stanbic’s chief economist, who suggested a year or two before a strong trajectory toward recovery becomes evident.
Conclusion: A Call for Collaboration and Sustainable Growth
The West Africa Property Investment Summit 2023 provided an invaluable platform for industry leaders to share insights, strategies, and collaborative approaches to propel the real estate sector forward. As the summit concluded, attendees were left with a renewed sense of optimism and determination to navigate the ever-evolving landscape of West Africa’s property market. The resounding message from the summit echoed the need for collaboration, sustainability, and strategic planning to ensure a resilient and prosperous future for the region’s real estate industry. Read More
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BANKING
How Kora Payment Link Helps Online Businesses To Grow

How Kora Payment Link Helps Online Businesses To Grow
The advent of technology with the COVID-19 pandemic has increased the adoption and popularity of online businesses. This is owed to the ability to operate small and medium-sized businesses from anywhere across the globe – which alludes to the fact that the world is now a global village: “How Kora Payment Link Helps Online Businesses To Grow.”
Therefore, there has been a meteoric increase in the number of online shoppers seeking products or services from the available businesses in the digital space.
This is evident in the emergence of e-commerce platforms that operate as an online marketplace for both buyers and sellers. It is also playing out in social commerce through the use of platforms like Facebook, Instagram, or X (Twitter) that people continuously use for their shopping experience.
By and large, online business is today a thriving venture that continues to generate a staggering income for businesses and the local economy.
One of the major perks of online businesses is the flexibility of their payments, such that merchants can offer a range of payment methods. The most common options are bank transfers or card payments, in which businesses provide their customers with bank account details to pay.
But as innovation continues to meet the evolution of online businesses, Kora is making payment strategy seamless for both merchants and their customers. This is through the Kora Payment Link.
What Is Kora Payment Link?
A Kora Payment Link is a clickable link that enables business customers to complete a purchase. This is offered as a digital link, which can be used across various social media platforms, websites, or other messaging tools.
How this works is that a customer is directed to a merchant’s online checkout page to complete their transaction anytime they use the Kora Payment Link. This link can be used for both a single transaction, as in a customer invoice and for multiple transactions, as a buy button on social media platforms.
It should be noted that the Kora Payment Link facilitates simple online payments as it does not require a website or code to create and use the link. Therefore, online businesses can easily create a payment link that takes customers directly to the online checkout page of the merchant.
Furthermore, the Kora Payment Link can be used for fundraising, donation, and subscription purposes.
Benefits Of Kora Payment Link To Online Businesses
-
Accept Payments Anywhere
You can receive payments from your customers across the globe through the payment link that you can easily share on social platforms or websites. This is also a “call to action” strategy to compel your customers to complete their purchase with you without delay.
-
Keep Payments Simple
Customers do not have to log into a mobile app or website before paying. This is because they can easily click the link anytime and from anywhere to take them to the checkout page to complete their purchase.
-
Flexible Payment Options
Kora Payment Link provides online businesses various payment options tailored to their preferences. This can be bank transfers, payment cards, or other digital payment methods like Apple Pay or Google Pay.
Therefore, it is the volition of online businesses to design their payment links towards their preferred payment options. Hence attracting customers to complete their purchase with the knowledge that they can use certain payment gateway.
How Online Businesses Can Use Kora Payment Link
Here is a quick step for using the Kora Payment Link:
- Create a Kora account and log in.
- Navigate to “Payment Link.”
- Enter your details and customize your link with certain preferences.
- Preview your link and activate it.
- Share your Kora Payment Link on social media platforms and other messaging tools.
- Start receiving payments.
Conclusion
We can not overemphasize the importance of having a sustainable payment strategy for online businesses to attract more customers who would complete purchases with them. That is why Kora introduced a payment link which merchants can easily share with their customers for transactions.
Kora Payment Link is easy and free to use, and you can get started by creating a Kora account now. [site]
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BANKING
How Kora Improves Cross-Border Transactions For Businesses

How Kora Improves Cross-Border Transactions For Businesses
Cross-border transactions are increasingly becoming popular without the concern of waiting days or transfer fees. This is due to the emergence of a fintech company like Kora, which makes cross-border payments simple, cheaper, faster, and easily accessible for businesses: “How Kora Improves Cross-Border Transactions For Businesses.”
A BCC Research of January 2023 revealed that the global cross-border payments market is expected to grow from $176.5 billion in 2021 to over $238.9 billion by 2027. The vehicle for this growth is fintech disruptors like Kora, which offers a digital platform and innovative messaging and settlement layers to improve cross-border business transactions.
Ways Kora Is Changing Cross-Border Transactions For Businesses
-
Improved Convenience
Kora enables you to make transactions fully on its platform, unlike the traditional method of visiting physical branches. This allows you to use the platform anytime and from anywhere without a glitch.
A simple user interface and streamlined onboarding characterize this platform to simplify cross-border transactions. It means you can use Kora to receive funds from your customers or transfer with its bulk payout, multicurrency payout, or mobile money options.
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Speed And Efficiency
Kora enables instant or same-day cross-border transactions, which is in the converse of the traditional settlement layers that can take days. Therefore, businesses can complete their transactions in less than one hour on this platform. You do not experience any form of delay in sending or receiving funds on this platform, irrespective of the amount. This is due to its high scalability and optimization of Kora.
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Lower Fees
This platform eliminates the meddlesome of third parties like banks and agents in the cross-border transfer chain. As such, it offers a relatively low transaction fee, which is often less than 1% of the transfer amount. This is a major perk of Kora compared to its contemporaries.
-
Enhanced Transparency
Kora offers an advanced tracking dashboard that provides real-time access to your funds and the estimated delivery timelines. This is because the platform has state-of-the-art blockchain technology that provides complete transparency in the tracking of your funds. It helps to reconcile your income with expenses.
-
Security And Compliance
Kora employs features like two-factor authentication (2FA) and other security measures to add extra security layers and protect user transactions and funds. This platform is in total adherence to global compliance standards to protect users’ funds and data.
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Reduced Foreign Exchange (FX) Risk
Cross-border transactions often involve multiple banks and currencies whose operations result in significant foreign exchange fees and currency volatility that create discrepancies between transferred and received funds.
This is largely the case when businesses in a particular country receive payments from another country.
However, Kora reduces foreign exchange risks that are associated with cross-border transactions by routing funds efficiently at the best exchange rate. On the other hand, Kora users can avoid foreign exchange concerns by using the multicurrency account on the platform that allows them to receive payments in currencies other than their local currency.
Conclusion
Cross-border payment is important to businesses as it enables their growth in the global market. But as digital payments continue to gain traction, there is a need for businesses to know how to leverage the technology to boost sales.
One major platform you can use for your cross-border transactions with your customers is Kora. This is due to the simplicity and scalability it offers you.
You can also start making cross-border transactions seamlessly when you create a Kora account now. [site]
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