Gtbank POS: How to Start POS Business With GTBank

Last updated on January 29th, 2024 at 05:27 pm

GTBank POS is one of the mobile money merchants in Nigeria that uses Point of Sale (POS) machines as their main device to carry out transactions, just like other companies such as OPay POS Terminal, Access Closa, MoniePoint POS Terminal, UBA Moni, MoMo Agent, Kudi POS, etc.

GTBank POS terminal is a portable device that allows the people of Nigeria to make payments for goods and services in a retail terminal. So, instead of going to GTBank to make withdrawals or deposits, GTBank POS terminals can easily be accessed and carry out the same services the banking hall offers. GTBank PoS terminal provides a convenient, modern & efficient means of processing payment online & in real-time as value is credited to the Merchant account within 24 hours.

Gtbank POS: How to Start POS Business With GTBank

These POS devices are given to agents who have been licensed by GTBank and at the same time vetted in a rigorous Know Your Customer (KYC) process.

Read: 11 Best POS Machines in Nigeria for Small Businesses and Start-ups

Read Also: Which bank is good for POS business?

Services Offered by GTBank POS Agent

The following are services offered by GTBank POS Agents.

Account Opening (Instant Accounts).
Cash Deposit and Withdrawal.
Customer Enquiries.
Bills payment.
Funds Transfer Services.

Requirements for a GTBank POS Agent

To become a GTBank POS agent, you must meet the following requirements:

You must have a Guarantee Bank Trust Account.
You must have a valid identification card like Voters Card, National Identity, or Drivers License.
You must have an existing business location.
Nepa bill as proof of your residential address

GTB POS Agent Terminal Benefits

Increase in income.
Increased access points for Bank customers
No more delay or waste of time in the banking hall
Ease of transacting via e-channel
Improved efficiency minimises cash handling and aids reconciliation.
Increase in sales as merchants have access to both cash and card-carrying Customers.
Instant confirmation of payment for goods.
Reduces cost of Personnel and equipment for handling cash receipts.
Reduces exposure to loss due to armed robbery or pilferage by Employees.
Eliminates the inconvenience of cheque confirmation and clearing period.

How To Get A GTBank POS Terminal

If you want to apply to become an agent with one of the best bank POS businesses in Nigeria, kindly follow the steps highlighted below:

Open a GTBank Business Current Account, click here for current account opening requirements for POS businesses
Once you create a current account, visit the customer service section of GTBank
Request for a POS application form and agreement form.
If your request form is approved, you will be informed to collect your POS
You can also start by following this link: https://www.gtbank.com/business-banking/sme-banking/e-business-services/point-of-sale-terminal-pos.

Note: GTBank POS application is free and then you will not be asked to pay to collect your POS.

Bonus: How to Link Any POS Machines With Your Bank Account

Point of sale (POS) systems can be connected to your bank account. If you already have a bank account and you want to link it to a POS system, you’ll need to fill in an application form along with the following documents:

Valid means of identification e.g Driver’s license, National ID card, International passport or voter’s card.
BVN
2 passport photographs
2 current account references
Evidence of business registration (CAC Certificate)
Tax Identification Number (TIN)

Your bank account manager will then help you to link your account to a point of sale machine (POS) that will be given to you at no cost. Once you get your POS machine you can begin carrying out financial transactions in your store.