Challenges of POS business

cherry123 · Nov 3, 2022

Point of sale business is almost everywhere but it comes with it's challenge's. The operators are always attack by fraudsters or petty thieves, sometimes the machine isnt functional and one can miscalculate money for a customer.

What other challenges do the business face?

Starmix · Nov 3, 2022

You are right, POS always faced challenges . There are ways to control the fraudsters ,operators must be extra careful, do monitoring and have a trusted person to do the hourly checking.

cherry123 · Nov 4, 2022

Starmix said:
You are right, POS always faced challenges . There are ways to control the fraudsters ,operators must be extra careful, do monitoring and have a trusted person to do the hourly checking.

It is so rampant now in my location. fraudsters are having a field day defrauding the pos agents. it really horrible.

Starmix · Nov 4, 2022

@cherry123 , that is horrible, what about the authorities? What were they doing? Everyone must be on red alert like a police man.

uptrendfinancialsignal · Jan 10, 2023

Apart from the attack from armed robbers, the banks also have some hidden charges that is not known to the agents.

Starmix · Jan 10, 2023

There are many fraudulent acts done by banks. It's mostly done by bank managers. So many banks on my country closed due to fraudulent activities and those managers were jailed.

eldavis · Jan 10, 2023

I believe another problem people in this business usually face is the risk of security. They literally deal with money hence they cannot stay too late, due to security risks they tend to close early to prevent being robbed.

cherry123 · Jan 11, 2023

uptrendfinancialsignal said:
Apart from the attack from armed robbers, the banks also have some hidden charges that is not known to the agents.

I used to think as much that banks must be benefiting from this as they keep putting money away from the ATM so that we can patronise the POS stand.

Reedex · Feb 5, 2023

One of the challenges in the agent banking business is scamming activities and that is why you need to be extra cautious.

uptrendfinancialsignal · Mar 6, 2023

lens said:
One of the challenges in the agent banking business is scamming activities and that is why you need to be extra cautious.

A pos operator who is still new in the business are often scammed by the scammers.

Niyi Briggs · Mar 10, 2023

One of the major challenge faced by POS businesses is robbery. Armed robbers target them because they know they are always with significant cash. The other part is unfaithful workers who wants to defraud the business owners.

Heatman · Mar 10, 2023

cherry123 said:
Point of sale business is almost everywhere but it comes with it's challenge's. The operators are always attack by fraudsters or petty thieves, sometimes the machine isnt functional and one can miscalculate money for a customer.

What other challenges do the business face?

One of the biggest challenges of point-of-sales terminals business today is lack of cash to actually used to run the business because of the scarcity of our new currency notes.

cherry123 · Mar 10, 2023

Yesh sometimes there's scarcity of our new currency notes to run the business like what we are facing no in Nigeria people are finding it difficult to run the business

Stardom22 · Mar 10, 2023

One of the biggest challenge affecting the POS business is that almost every client seek for the same type of service. For Instance most clients prefer withdrawing money leaving the operators without cash at hand to cater those depositing

Niyi Briggs · Mar 10, 2023

cherry123 said:
Yesh sometimes there's scarcity of our new currency notes to run the business like what we are facing no in Nigeria people are finding it difficult to run the business

They still operate. What they majorly do now is to process transfers for customers. It is very pathetic that there is no cash for the business to push ahead as it was.

Magnus2022 · Mar 11, 2023

POS is a very risky business especially in Nigeria where insecurity is very high. POS agents are attacked most of time and cash carted away. Apart from arm robbery, banks are not making things easy for them by using hiden charges and different methods of exploitation.

Bisolami · Mar 11, 2023

cherry123 said:
Point of sale business is almost everywhere but it comes with it's challenge's. The operators are always attack by fraudsters or petty thieves, sometimes the machine isnt functional and one can miscalculate money for a customer.

What other challenges do the business face?

One of the major challenge is that some people may send money to you and you will not receive it which sometimes cause problem

Niyi Briggs · Mar 11, 2023

Magnus2022 said:
POS is a very risky business especially in Nigeria where insecurity is very high. POS agents are attacked most of time and cash carted away. Apart from arm robbery, banks are not making things easy for them by using hiden charges and different methods of exploitation.

Bank charges are quite fair on them. They make lots of money on a daily basis. I know a few that make up to 8k to 10k a day. It's just that the cashless economy is affecting them now.

Heatman · Mar 11, 2023

cherry123 said:
Yesh sometimes there's scarcity of our new currency notes to run the business like what we are facing no in Nigeria people are finding it difficult to run the business

This is very big problem for a lot of businesses in my country today because once there is no cash, it is always very difficult for businesses to go on.

cherry123 · Mar 11, 2023

This is a good business but have it's drawbacks which includes losing money which is that money sent to you send money to you might not get to you on time

Challenges of POS business

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