Starting an agency banking business in Nigeria can feel confusing.
You’re hearing stories of people “making money from POS,” you’re seeing long queues at agents’ stands… but when you sit down to ask, “Okay, how exactly do I start, and how can I get a pos machine that actually works?” the answers suddenly become vague.
So let’s strip out the confusion and walk through this.
We’ll treat SupplySmart as your backbone (the infrastructure), and then talk about the other tools you need to run this like a real business, not just a kiosk.
First, what exactly are you building?
Agency banking is basically you acting as a “mini bank” in your area. With a good POS terminal machine, you’re helping people:
- Withdraw cash
- Deposit money
- Do inter-bank transfers
- Pay bills, buy airtime/data, etc.
The Supply Smart POS is designed specifically for this kind of work — high-volume agency banking and busy agents, not just random shop payments. It’s a smart Android device with:
- 4G SIM + dual Wi-Fi for a more stable network
- High-capacity battery, so you’re not shutting down every few hours
- Instant receipt printer
- Multi-wallet setup and instant settlement into your wallet
So you’re not just buying any POS terminal machine; you’re buying the core engine of your new “micro-bank.”
Get your POS machine, the smart way.
Decide if agency banking is really for you
Before we jump into “how can I get pos machine,” check yourself on these:
- Location: Is your area underbanked or cash-heavy? Long ATM queues? Few agents? That’s good.
- Patience: People will come to you with failed transactions, reversal issues, and plenty of complaints.
- Capital: You’ll need money for:
- The device itself (SupplySmart quotes roughly ₦100,000–₦150,000, depending on the model and the latest pricing).
- Float (money in your account/wallet to process withdrawals and transfers).
- Basic setup: signage, chair/table/umbrella, maybe a small shop.
If you’re okay with all that, cool. Let’s get practical.
Get your requirements and KYC ready
SupplySmart follows standard CBN KYC rules. So if you want a smooth, fast approval, gather everything first. From their POS Agent Requirements Checklist, you’ll typically need:
1. Identity (KYC)
- Valid ID: National ID/NIN slip, voter’s card, or driver’s licence.
2. Financial Details
- Your BVN
- A bank account that will be linked for settlement
3. Address Verification
- Recent utility bill (not older than 3 months – PHCN, water, etc.)
4. Business / Contact Info
- Business name (if you have one)
- Clear business address/location
- Active phone number and email (for setup, alerts, and reports)
Think of this stage as “proving you’re real”, so SupplySmart and their CBN-licensed partners are comfortable trusting you as an agent.
Keep all of these scanned or clearly snapped on your phone. You’ll need them in the online form.
Understand the pos terminal machine you’re paying for
Look, don’t just pay for any device because someone said, “It’s cheap.”
With SupplySmart, you’re getting a smart pos terminal machine that’s closer to a small Android phone than those old brick-style terminals. It’s built for:
- High-volume transactions
- Better network (4G SIM + dual Wi-Fi)
- Longer battery life in low-power areas
- Instant receipts and in-app reports for tracking your daily figures
Why does this matter?
Because in the agency banking game, failed transactions = lost money + anger + stress. Smart POS + good network means more successful transactions, which means better daily commission.
Tools every serious agent needs
Here’s the part most agents ignore.
They focus on the POS and completely forget about how customers will actually reach them when something goes wrong.
If you want to be a “serious” agent, not just someone under the tree with a machine, you need three core tools:
- A reliable pos terminal machine (SupplySmart)
- Basic accounting/tracking (even if it’s a simple Excel or notebook at first)
- A central business phone line that your customers and staff can rely on
Why a shared business phone system matters for agency bankers
Think about a typical day:
- A customer’s transfer is pending, and they’re calling to confirm.
- Someone was debited but didn’t get cash and needs a reversal update.
- You have staff at the shop, but you’re not always there personally.
If everyone is using personal SIMs, it gets messy fast:
- You can’t track what your staff said to customers.
- Customers save random numbers, not your business.
- When a staff member leaves, they walk away with “your customers.”
With a cloud business phone system, you get:
- One shared business number your whole team can use
- Call routing, so calls go to the right person at the right time
- Call recording and analytics so you can monitor how issues are handled
- Professional greetings and IVR (“Press 1 for withdrawals, 2 for complaints…”)
If you want to position yourself like a proper financial service point, not just “POS guy”, you should be using a professional business phone system for agency bankers that lets you:
- Share one number with your team
- See all call history
- Train staff using real call recordings
- Present a more trustworthy, bank-like image to customers
Turn this into a real business, not a side hustle that fades
Once your SupplySmart POS is live and your phone system is set up, your next focus is simple:
- Be consistent: Open at fixed hours so people know when to find you.
- Be visible: Signboard, umbrella branding, telling nearby shop owners you’re around.
- Be professional: Use your business number on posters, receipts, WhatsApp, and social media.
- Track daily numbers: Transactions, commissions, float balance, cash on hand.
If you combine:
- A solid pos terminal machine from SupplySmart,
- Proper documentation and KYC, and
- A serious phone setup that makes you look and sound like a legit financial service provider…
…you’re not just “doing POS.” You’re building a small but real financial service business in your neighbourhood.
