Lease pos Vs purchase pos machine review

Lease pos Vs purchase pos machine review

The majority of pos machine used by an agent are on lease and not purchased which means the pos solely belongs to the company. The fees paid while acquiring these machines are either caution fees or registration fees.

Opay users pay a caution fee which would be returned to them if the pos is returned in a very good condition, same with Moniepoint but in their case, only 10k would be returned to the agent if it is returned in the period of 1-11 months, not after one year. As for Baxi agents pay registration fees which is 15k and you get the machine but if you want to purchase it you pay 80k for Baxi pos while 60k for Opay pos and it becomes yours.

Disadvantages of purchasing a pos

Once an agent pos purchased from the company you are liable for the maintenance fee. If it gets damaged, it won’t be replaced, but if the pos is on lease you will only pay a token and it would be replaced. For Moniepoint agents that signed up for insurance plan gets their pos repair for free.

The money used in purchasing a pos outrighly, it can be added to the capital and save yourself from unnecessary costs. In a case, if the company closes down, the pos is totally useless and can’t be used for any other purpose.

Charges of outrighy bought and leased pos

There is no difference in services charge when it comes to these two, both are charge the same, so there is no special charges for a purchasd pos the only thing they gt to enjoy is the full ownership of the machine and nothing more