Challenges of POS business

[cherry123]

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]

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]

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]

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

 

[uptrendfinancialsignal]

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

 

[Starmix]

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]

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]

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]

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

 

[uptrendfinancialsignal]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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