Kolomoni POS: All You Need To Know

Kolomoni POS Devices

Kolomoni POS is another good point-of-sale (POS) terminal in Nigeria. The POS terminal is provided by Kolomoni Microfinance Bank. The company is also offering other financial services including savings account, investment, loans, bill payments, interbank transfers and many others.

However, I’m going to walk you through Kolomoni POS terminal in this article. In this article, we will explore together the features of Kolomoni POS, the acquisition price, types of POS machines, daily targets and commissions, charges and fees and how to become Kolomoni agent or super agent.

Kolomoni POS

Kolomoni POS is a point-of-sale terminal that allows underserved communities to enjoy withdrawal transactions at little charges, purchase airtime at discount rate, pay for tv subscription, pay for bills such as utilities and perform inter-bank transfers within Nigerian banks.

With Kolomoni POS, agents earn 1% chargeback commission on airtime or data purchased for customers. Agents can also earn N5O cashback on all amounts paid for cable Tv subscriptions.

Although, the Kolomoni POS is not widely recognized like Moniepoint POS but Kolomoni agency network available in the major cities of Nigeria. Kolomoni POS is available in Ibadan, Lagos, Abeokuta e.t.c.

How to Become Kolomoni Agent

Becoming a Kolomoni POS agent is a straightforward method. You can become a Kolomoni POS agent by requesting a Kolomoni MPOS and paying an onboarding fee to acquire the terminal. The onboarding fee is N15,000. The fintech also has an in-built app that allows all its agents to manage their POS account on the go.

It also worth noting that Kolomoni offers two types of POS machines; "Kolomoni MPOS Device" and Kolomoni SmartPOS Machine. The POS machine "allows our Agents to carry out transactions at lower charges and also earn commissions on every transaction," the company cited in a blog post.

Furthermore, Kolomoni also have some set of super agents. Kolomoni Super Agents are partners or ambassadors who play a supervisory and support role within Kolomoni's network. To qualify as a Super Agent, an individual must manage at least 10 Kolomoni agents under their guidance.

These Super Agents are also responsible for purchasing a minimum of 10 MPOS (Mobile Point of Sale) devices, each costing ₦10,000, on behalf of their agents. Beyond procurement, Super Agents are expected to provide first-level support to the agents they oversee, ensuring smooth operations and effective issue resolution within the network.

The primary difference between a Kolomoni Agent and a Super Agent lies in their roles and responsibilities. A Kolomoni Agent acquired through a ₦15,000 onboarding fee, to conduct transactions, earn commissions, and manage their account via Kolomoni's app. On the other hand, a Kolomoni Super Agent oversees at least 10 Kolomoni Agents.

The Super Agents are tasked with purchasing MPOS devices for their agents, providing first-level support, and ensuring smooth operations within their network. While agents focus on individual transactions, Super Agents manage and support a team of agents.

How to Use Kolomoni MPoS Machine

Kolomoni POS can be used for atm card withdrawal, inter-bank transfer, bill payment and more. Once you received your POS terminal, you can start utilizing it by creating a Kolomoni account.

Your legal names, NIN, BVN, phone number, email address and home addresses are needed to register a Kolomoni account. Once your account is created and you’ve gotten your POS terminal, all you need to do is pair the MPoS with your smartphone using Bluetooth.

Next, you will need to download the Kolomoni app on the Google Play Store for Android users and Apple App Store for iPhone users. Once the app is installed on your smartphone, login the Kolomoni account you created and start performing financial transactions such as withdrawals and transfers.

Kolomoni POS charges 0.7% for withdrawal transactions on its POS devices and 0.5% capped at N100 on its mPOS devices.