PayEasy POS Solutions: POS Business Plan in Nigeria 2025

Introduction

The POS business in Nigeria has emerged as a cornerstone of the fintech revolution, fueled by the Central Bank of Nigeria’s cashless policy and the widespread adoption of digital payments. With over 80% of Nigerians using mobile payments and a POS transaction market valued at NGN 1.2 trillion annually, the sector offers immense opportunities for entrepreneurs. PayEasy POS Solutions, a startup launching in 2025 in Victoria Island, Lagos, aims to provide seamless POS terminal services, agency banking, and financial inclusion solutions. This article outlines a comprehensive business plan for PayEasy POS Solutions, detailing its strategy to become a leading POS provider in Nigeria’s dynamic fintech landscape.

Description

PayEasy POS Solutions is a fintech startup specializing in POS terminal services, agency banking, and financial inclusion solutions, catering to small businesses, merchants, and individuals in urban and semi-urban areas. Located in Victoria Island, Lagos, PayEasy will deploy 50 POS terminals in year one, offering cash withdrawals, transfers, bill payments, and airtime top-ups. By partnering with major banks and fintech platforms like Moniepoint and Opay, we ensure low transaction fees and reliable service. Our commitment to accessibility, affordability, and technology-driven solutions positions PayEasy to meet Nigeria’s growing demand for cashless transactions.

Address

Business Address: Plot 16, Ahmadu Bello Way, Victoria Island, Lagos, Nigeria
Operational Hub: A retail office with a back-end support center for terminal management and customer service, strategically located near commercial hubs and financial institutions.
Corporate Contact: Reach us at in**@********os.ng or via our website (to be launched).

Founder and Owner

Founder and Owner: Kemi Adewale (60% share, CEO), a fintech specialist with 7 years of experience in mobile banking, and Tolu Afolabi (40% share, Operations Manager), a business analyst with 5 years in financial services. Kemi holds a B.Sc. in Computer Science from the University of Lagos, while Tolu has an MBA from Lagos Business School.

Services

POS Terminal Services: Cash withdrawals, fund transfers, and bill payments for merchants and individuals.
Agency Banking: Account opening, loan applications, and BVN registration in partnership with banks.
Airtime and Data Top-Ups: Sales of airtime and data bundles for major telecoms (MTN, Glo, Airtel).
Financial Inclusion Solutions: Micro-savings and micro-loans for underserved communities.
Merchant Support: Training and technical support for POS operators.
Value-Added Services: Integration with e-commerce platforms for seamless payments.

Price Range

Transaction Fees: NGN 50–100 per cash withdrawal (e.g., NGN 100 for NGN 10,000); 0.5–1% for transfers and bill payments.
Airtime/Data Top-Ups: 2–5% commission per transaction.
Agency Banking Services: NGN 500–2,000 per service (e.g., account opening).
POS Terminal Leasing: NGN 5,000–10,000/month for merchants.
Note: Fees align with industry standards (e.g., Moniepoint’s 0.5% rate) and are subject to CBN regulations.

Social Media Accounts

Twitter/X: @PayEasyPOSNG (https://x.com/PayEasyPOSNG)
Instagram: @payeasypos (https://www.instagram.com/payeasypos)
LinkedIn: PayEasy POS Solutions (https://www.linkedin.com/company/payeasypos)
Note: Social media accounts will be activated upon business launch in 2025.

Official Website

www.payeasypos.ng (to be launched in Q1 2025) – For service details, merchant onboarding, and inquiries.

Executive Summary

PayEasy POS Solutions is a fintech startup launching in 2025 in Victoria Island, Lagos, Nigeria, offering POS terminal services, agency banking, and financial inclusion solutions. Targeting merchants, small businesses, and individuals with incomes above NGN 100,000/month, we aim to deploy 50 POS terminals and process 50,000 transactions monthly in year one, generating NGN 30 million in revenue. Nigeria’s POS market, valued at NGN 1.2 trillion, grows at 15% annually, driven by the CBN’s cashless policy. Our strategic location in Victoria Island ensures access to high-traffic commercial areas. We seek NGN 15 million in funding for terminals, office setup, and marketing, projecting a 45% ROI by year two. Our competitive edge lies in low transaction fees, reliable partnerships, and a robust online presence, positioning PayEasy as a leader in Nigeria’s POS sector.

Company Description

Business Name: PayEasy POS Solutions
Location: Plot 16, Ahmadu Bello Way, Victoria Island, Lagos, Nigeria
Legal Structure: Limited Liability Company (LLC), registered with the Corporate Affairs Commission (CAC)
Business History: Founded in 2025 by Kemi Adewale and Tolu Afolabi to capitalize on Nigeria’s cashless economy and bridge financial inclusion gaps.
Mission: To provide accessible, affordable, and reliable POS and agency banking services to empower merchants and individuals.
Vision: To be Nigeria’s leading POS service provider by 2030, known for innovation and financial inclusion.
Goals:

Short-term: Deploy 50 POS terminals, process 50,000 transactions monthly, and achieve NGN 30 million in revenue in year one.
Long-term: Scale to 200 terminals and expand to Abuja by 2028.
Why Victoria Island?: High-traffic commercial hubs, affluent clientele, and proximity to banks ensure strong transaction volumes and visibility.

Market Analysis

Industry Overview: Nigeria’s POS market, valued at NGN 1.2 trillion, is driven by the CBN’s cashless policy, with over 1.5 million POS terminals deployed by 2024. Lagos accounts for 40% of transactions, with Victoria Island contributing 15% due to its commercial significance.
Target Market: Merchants (retail shops, restaurants) and individuals aged 18–45 with incomes above NGN 100,000/month, processing NGN 10,000–100,000 daily transactions.
Market Size: Lagos’ POS market is worth NGN 480 billion annually, with Victoria Island’s share at NGN 72 billion.
Competitors:

Direct: Moniepoint, Opay, Palmpay.
Indirect: Bank ATMs, informal cash agents.
Competitive Advantage: Low fees (0.5–1%), reliable terminals, and partnerships with fintechs like Moniepoint.
Market Trends: Growth in mobile payments (15% annually), demand for agency banking in semi-urban areas, and CBN’s push for financial inclusion.
Opportunities: Untapped semi-urban markets, partnerships with e-commerce platforms, and government-backed fintech initiatives.

Organization and Management

Structure:

CEO: Kemi Adewale, oversees operations, partnerships, and technology.
Operations Manager: Tolu Afolabi, manages finances, marketing, and logistics.
Field Manager: To be hired, supervises POS agents and terminal maintenance.
Staff: 5 POS agents, 3 support staff, 2 accountants, 1 IT specialist (11 total).
Experience: Kemi has 7 years in fintech; Tolu has 5 years in financial services.
Advisory Team: Engaging a CBN compliance expert and Lagos Chamber of Commerce mentor.
Legal: Register with CAC (NGN 50,000), obtain CBN POS license (NGN 100,000), and secure Tax Identification Number (TIN).

Services

Services:

POS terminal services (withdrawals, transfers, bill payments).
Agency banking (account opening, BVN registration).
Airtime/data top-ups for major telecoms.
Financial inclusion solutions (micro-savings, loans).
Merchant training and support.
Unique Selling Proposition: Low-cost transactions, reliable terminals, and seamless integration with fintech platforms.
Pricing: Transaction fees ~NGN 50–100; agency services ~NGN 500–2,000; terminal leasing ~NGN 5,000–10,000/month.

Marketing and Sales

Marketing Strategy:

Digital Presence: Launch a Shopify-based website (NGN 500,000 setup) and social media campaigns on Twitter/X, Instagram, and WhatsApp targeting merchants and individuals.
Events: Participate in Lagos Fintech Week and trade fairs.
Promotions: Offer free first-month terminal leasing and 50% reduced fees for new merchants.
Partnerships: Collaborate with banks and e-commerce platforms (Jumia, Konga).
Sales Strategy:
Direct sales via office and online platform.
Agent recruitment for semi-urban areas.
B2B contracts with retail chains.
Customer Acquisition: Target 500 merchants and 5,000 individual transactions monthly in year one with NGN 1 million marketing budget.

Financial Projections

Startup Costs: NGN 15 million

Office rental (Victoria Island, 1 year): NGN 3 million
POS terminals (50 units): NGN 5 million
Technology (software, backend systems): NGN 2 million
Inventory (SIM cards, branding): NGN 1.5 million
Marketing and website: NGN 1 million
Staff salaries (3 months): NGN 1.5 million
Miscellaneous (permits, utilities): NGN 1 million
Revenue Projections:
Year 1: NGN 30 million (50,000 transactions at NGN 75 avg., 50 leased terminals at NGN 7,500/month, agency services)
Year 2: NGN 50 million (100,000 transactions, 100 terminals)
Year 3: NGN 80 million (expansion to Abuja, increased agency banking)
Profit Margins:
Year 1: NGN 9 million (30% margin after NGN 21 million expenses)
Year 2: NGN 20 million (40% margin)
Year 3: NGN 36 million (45% margin)
Break-even Analysis: Achieve break-even within 12 months with 35,000 transactions and 30 leased terminals.
Funding: Seeking NGN 15 million loan from Sycamore NG at 12% interest, repayable over 3 years, or investor equity (20% stake).

Growth Strategy

Year 1: Deploy 50 POS terminals in Lagos, focus on merchant onboarding, and build online presence.
Year 2: Scale to 100 terminals, expand to Ogun State, and introduce micro-loan services.
Year 3: Expand to Abuja, scale transactions to 150,000 monthly, and explore West African markets.
Sustainability: Use solar-powered terminals (NGN 1 million investment) for rural areas.
Training: Train 100 POS agents annually to enhance network reach.

Notes

Data Sources: Market data from Nairametrics, Nigerian Resource Hub, and fintech.ng. Transaction fees align with X posts and industry standards (e.g., NGN 100 for NGN 10,000 withdrawal).
Challenges: High competition, CBN regulations, and power issues for terminals. Mitigation includes partnerships with reliable fintechs, compliance with CBN, and solar-powered terminals.
Legal Requirements: Register with CAC (NGN 50,000), obtain CBN POS license, and secure TIN.
Recommendations: Partner with Moniepoint or Opay for backend support, use Shopify for e-commerce (NGN 500,000 setup), and leverage Lagos Fintech Week for visibility. Monitor trends via Nigerian Fintech Association reports.

Conclusion

PayEasy POS Solutions is positioned to thrive in Nigeria’s booming fintech market with reliable POS services, agency banking, and financial inclusion solutions. Our strategic location in Victoria Island, low-cost model, and digital strategy ensure scalability and profitability. Contact us at in**@********os.ng or visit www.payeasypos.ng (to be launched) to invest or partner in transforming Nigeria’s cashless economy!