Between 2023 and 2025, the cost of Point-of-Sale (PoS) terminals in Nigeria has risen dramatically, by 30 percent for basic models and almost doubled for sophisticated devices.
This rise is related with inflation, currency depreciation, and rising logistics expenses; it is already altering how fintech companies and little business owners approach the rapidly expanding agency banking industry.
Android and smart models have climbed from N30,000–N40,000 to between N62,000 and N85,000; entry-level PoS machines that once sold for about N15,000 to N20,000 now run approximately N21,500.
Still, especially in neglected areas where PoS devices sometimes serve as the primary access to financial services, demand keeps rising. Registered PoS terminals reached 8.3 million by March 2025, according the Nigeria Inter-Bank Settlement Systems (NIBSS).
The News Chronicle learnt that several fintech companies are modifying their corporate models in response to these growing expenses.
While some are testing leasing arrangements requiring higher transaction volumes from agents, others are compelling merchants to make more deposits or buy equipment altogether.
Dealers in the industry observe that this change mirrors the reality of an economy wherein inflation and exchange rate fluctuations are raising costs everywhere.
These developments have mostly been driven by Nigeria’s economic climate. Rising from 21.34 percent in December 2022 to a high of 34.60 percent in late 2024 before declining to 20.12 percent by August 2025, inflation climbed.
Simultaneously, the naira has weakened to about N1,500 per dollar from N500 per dollar two years before. Because all PoS systems are imported, the absence of domestic manufacturing exposes fintechs to foreign exchange volatility and worldwide supply chain interruptions.
Rising expenses set a greater obstacle to entrance for young Nigerians trying to get into the PoS industry. Operators with several locations are also finding it difficult to grow at past rates. Still, demand is expected to stay high since PoS terminals have become vital for digital transactions and remain the closest gate to financial services for millions of people.
