Nigerian PoS Terminal Prices Double Amid Forex Challenges

The cost of Point of Sale (PoS) terminals in Nigeria has doubled between 2023 and 2025, with Moniepoint, OPay, PalmPay, and banks raising prices due to foreign exchange challenges. The surge in PoS terminal costs, driven by inflation, forex volatility, and logistics expenses, is reshaping the agency banking sector.

Fintech companies like Moniepoint and PalmPay dominate the PoS market, pushing for higher transaction volumes to offset increased costs. The shift from outright purchase to leasing models for PoS devices is aimed at managing the impact of depreciation and import costs.

Despite the price hike, the demand for PoS services continues to grow, especially in underserved rural areas.