The Point of Sale terminal is a portable device that facilitates payments for goods and services at merchant locations using payment cards issued by all banks on the network.

Point of Sale Terminal

POS terminals play a key role in the actualization of the cashless banking objectives as they become a more popular means of receiving payments and transacting business.



Who are the target merchants?

Target industries

What is the minimum size of merchant business to qualify for POS?

POS equipment is expensive. Therefore, we target merchants that do a minimum of N1,000,000 turnover per month, or N35,000 per day. The business should also have controlled access to the POS terminals.

Can a merchant have multiple POS machines?

Yes, a merchant with large area coverage or many cashier outlets with high turnover that is in multiples of N1,000,000 can have multiple PoS Machine.

Now I have a merchant, what do I do next?

FAQs for POS Merchants

Here is everything Merchants need to know about the UBA POS Operations 

To request for a POS terminal, please note the following steps:

i. Click here to download the registration form

ii. Fill out the registration form

iii. Submit the complete form at the branch closest to you

iv. After your request is approved, you will receive a confirmation email with your login information and contact details for your POS support officer

v. The POS terminal will be delivered to you within 3 – 7 working days.

Yes, UBA POS terminals accept all cards: Verve, MasterCard and Visa

UBA POS Terminals are only available to UBA account holders. We however are able to provide special events POS terminals in some instances. Contact your POS Support Officer or email cfc@ubagroup.com for more information

All UBA POS terminals are free.

Merchants can apply for more than one POS terminal. However, the businesses are required to have several pay points with a minimum turnover of ₦2 million

The CBN policy currently does not permit the use of savings accounts for merchant services. Therefore ony current and corporate account holders can request POS Terminals.

Requests made within Lagos will take 3 working days while requests made outside Lagos will take 5-7 working days

An Android POS terminal is built with an Android Operating System and uses the 4G network & WiFi. Analog POS terminals use only GPS network.

Yes, it can. Some POS terminal types have ports for LAN cables while some others are WiFi enabled and can be connected to a LAN.

A+C13:D17Merchant POS terminals
The agent earns 70% of transaction fees as commissionThe merchant pays 0.5% of transaction fees as charges
The agent’s terminal can process withdrawal, deposit and transfer transactions from cardholder’s account to other accounts.The merchant terminal  can only process  transactions which can only settle into merchant’s account.
Instant settlement is available for agentsTransactions can only be settled by the next working day
Agents have two accounts. One known as transaction account. The other known as the commission account.Merchants have one account which must be a current account.
Other bank charges are waived for agents using a special scheme code – SBAGT.Other bank/regulatory charges such as account maintenance, stamp duty and VAT apply.

When you receive the email from POS.UBACARES@ubagroup.com or your Relationship Manager, kindly accept/decline the chargeback request within 24 hours, following the steps below:

  1. – Check through your transaction receipts and End of Day (EOD) report for the disputed transaction 
  1. – Confirm transactions that are either “Approved or Declined”.
  1. – If your receipt copy shows “Declined”, attach the receipt and respond to the email with “Dispute accepted”.
  1. – If your receipt copy shows “Approved”, respond to the email with a copy of the receipt.

When a response is not received, your account will be debited and funds returned to the cardholder. 

FAQs for POS Transactions

Transactions can only be settled by the next working day

It enables the card processing companies (i.e. Visa, Verve, Mastercard) to complete the reconciliation of the transactions

All terminals will print out a reciept showing “approved” after each transaction for both the customer and merchant

Reports of all previous transactions can either be retrieved from the POS terminals End-of-Day (EOD) report or via the Online portal (UBA Moneytor) which provides a view of your settlement reports.

You can access reports using the following steps:
1. Click on “Settings” on the home screen.
2. Click on “Supervisor” then enter PIN “1234” or “12345”
3. Click on “2” for “End-of- Day”
4. Click on “1” for “All Transactions” then select a “Date” from the
list. OR click on “2” to print using “PAN” or “RRN”
5. Scroll down on the receipt display
6) Click “Print” or “Cancel”

The cardholder should log a complaint with their bank to get a refund.

Customers can get a refund for this type of transaction without a decline receipt. The cardholder should be advised to submit a chargeback request at his or her bank. Merchants must always wait for their bank’s advise

For prompt resolution, please contact your relationship manager or the POS support officer assigned to you. You can also send an email to POSUBACARE@UBAGROUP.COM

FAQs for UBA Moneytor

It is an online portal for Merchants to help manage all POS transactions from Onboarding to settlement and reconciliation.

To access your reports on UBA Moneytor, please note the following:

1. Click here to access the Moneytor platform and login with your username and password.
2. Click on “Settlement Transactions”
3. Click on “Sort & Filter”
4. Filter by “Date Range”
5. Enter “Merchant ID” or “Terminal ID” or “Amount”
6. Click on “Apply Filter”
7. Click on “DOWNLOAD” at the top menu then wait for the data to load. The “EXCEL FILE” is downloaded to the system.

NB: If report data is too large, the file is sent directly to the email profiled under the user’s account.

UBA Moneytor gives you a real time view of all your POS transactions

FAQs for POS Complaints

For faulty POS terminals, please contact your relationship manager or POS support officer. You will find their details in the confirmation email sent to you during your POS terminal registration.

Please contact your POS Support Officer for quick resolutions

Chargeback requests are filed when a cardholder/customer has been debited for an unsuccessful transaction. The customer contacts their bank/card issuer to submit a chargeback request and requests a refund. Succesful chargebacks will be refunded. Funds will be sent back to merchant if chargeback is unsucessful.

The Merchant can either approve or decline the transaction. Approval must be given when the transaction is confirmed as valid. Transaction must be declined if it is proven to be invalid.

All reversals are instant, however if the transaction isn’t reversed within 24hours, the card holder should visit his or her bank to make a complaint

Once a customer requests chargeback, the request is logged for investigation and takes 3-5 working days to be resolved

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