OPay is a CBN-licensed mobile money platform that provides a variety of financial transactions such as money transfers, bill payments, airtime purchases, and more.
As an OPay Merchant, you have the authority and control to earn as much money as possible by providing financial services in your community.
You get discounts and vouchers when you buy airtime. Earn more commissions by assisting customers in paying their TV subscriptions and electricity bills with zero fees. You can also send and receive money in real time from any bank for as little as 10 Naira.
Since its introduction in 2010, Opay POS machines have been popular in Nigeria. They are dependable, simple to use, and provide useful business features. As an Opay agent, you can easily make payments for your business or become a “mini-bank” for your neighbourhood.
If you’re familiar with this platform, you’ve probably seen our in-depth content on how to start a POS business and researched the best POS machines in Nigeria. You’ll have a lot of options.
Obtaining an Opay POS machine is straightforward, and we’re here to help. Our post answers frequently asked questions about applying for the machine, ensuring a pleasant experience.
Opening an OPay Account: Your First Step
To embark on your journey as an OPay agent, the first crucial step is to open an OPay account. Follow these simple steps to set up your account:
1. Download and Install the OPay App
Visit your Play Store or Apple Store and search for “OPay” or use the magic code *955# to download the app. Set up your wallet by providing your name and phone number.
2. Select Account Type
Choose between “Merchant” or “Personal” in the OPay app and proceed with the registration process.
3. Enter Your Credentials
Fill in your personal details, including your name, phone number, and address.
4. Upload Necessary Verification
Submit house verification documents such as PHCN bill, water bill, rent receipt, or LAWMA waste bill.
5. Complete KYC Process
Enter your BVN, upload a photo, and provide means of identification (NIN, Voter card, Driving license, or international passport).
6. Follow Onscreen Instructions
Complete the account opening process by following the onscreen instructions to create your username and password.
Once done, upgrade your KYC to level 3 to unlock higher transaction limits.
Becoming an OPay Merchant/Agent: Your Path to Financial Empowerment
Now that your account is set up, the next step is to become an OPay merchant. Here’s how you can achieve that:
1. Visit OPay Merchant Portal
Go to opayweb.com/merchants/ and tap on “Create an Online Merchant Account” or “Create a POS Merchant Account.”
2. Follow Registration Process
Navigate through the on-screen messages to complete the registration process.
Applying for an OPay POS Machine: Your Gateway to Financial Services
With your profile upgraded to KYC level 3, you can now apply for an OPay POS machine. Follow these steps:
1. Log in to OPay App
Access the OPay app on your device, click on “More,” and then tap on “My POS.”
2. Provide Necessary Information
Enter all required information on the next page, including transaction history for the past 3 months.
3. Upload Documents
Submit a valid ID card, a photo of your business station, and deposit N20,000 as caution fees in your OPay wallet.
4. Submit for Review
Submit your application for review, which typically takes 48 hours. You’ll receive email and SMS notifications once your request is processed.
OPay POS Machine Prices: Choosing the Right Fit
Before diving into the world of OPay agents, it’s essential to know the prices of OPay POS machines in Nigeria:
- OPay Smart (Android) POS: ₦60,000
- OPay Traditional POS: ₦45,000
- OPay Mini POS: ₦20,000
Operating and Activating Your OPay POS: A Quick Guide
Now that you have your POS machine, here’s how to operate and activate it:
1. Insert SIM Card
Insert a SIM card with an active data subscription into the POS.
2. Power On and Perform a Transaction
Power on the POS and use your ATM to perform a withdrawal or cash-out.
3. Check Your OPay App
If the transaction is successful, log in to your OPay app to confirm the credit. You are now ready to use the POS.
Managing Your OPay Account: Passwords and PINs
Resetting OPay Password:
- Click on “Forget Password.”
- Input the OTP received.
- Enter your new password and confirm.
Resetting Payment PIN on OPay Business App:
- Click on the business icon.
- Navigate to settings and click on Security Settings.
- Select “Payment PIN,” then click on “Forgot Payment PIN.”
- Verify the code sent to your app number.
- Set a new PIN and reconfirm.
Types of OPay Merchants and POS Machines
OPay Merchant Tiers:
- Regular
- Platinum
- Gold
- Silver
OPay POS Machine Types:
- OPay Smart (Android) POS
- OPay Traditional POS
- OPay Mini POS
Becoming an OPay agent opens doors to financial empowerment. From the straightforward account opening process to acquiring a POS machine, OPay provides a seamless experience for users. Choose the right POS machine, follow the activation steps, and dive into the world of financial services as an OPay agent.
Frequently Asked Questions (FAQs):
Q1: How long does it take to get approval for an OPay POS machine?
A1: The review and approval process typically takes 48 hours after submitting your KYC.
Q2: What are the benefits of upgrading to KYC level 3?
A2: Upgrading to KYC level 3 enables you to send and receive money above N500,000 Naira.
Q3: Can I apply for an OPay POS machine without being a merchant?
A3: No, you need to become an OPay merchant before applying for a POS machine.
Q4: Are there different fees for each type of OPay POS machine?
A4: Yes, the fees vary for each type, with OPay Smart (Android) POS being the highest at ₦60,000.
Q5: How do I change my OPay payment PIN?
A5: You can change your payment PIN through the business icon, settings, and security settings on the OPay app.
Engage with OPay, seize the opportunities, and embark on a journey of financial prosperity as an OPay agent!