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POS Machine with no Target in 2023

POS Machine with no Target in 2023

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When it comes to choosing a POS machine for your retail business, the concept of a no-target POS machine may seem counterintuitive at first. However, there are compelling reasons to consider a POS machine with no transaction targets.

POS Machine with no Target in 2023
POS Machine with no Target in 2023

The Limitations of Target-Based POS Machines

Traditional POS machines often come with transaction targets that retailers are expected to meet daily. While the intention behind these targets may be to drive sales and revenue, they can inadvertently create pressure and stress for the retailer. Additionally, if the retailer fails to meet the specified targets, they may face penalties or additional fees, adding to their financial burden.

Reason to Choose a no-target POS machine for your business. 

Freedom and Flexibility: A no-target POS machine offers retailers the freedom to conduct business without the constant pressure of meeting transaction quotas. This freedom allows retailers to focus on providing exceptional customer service and building meaningful relationships with their customers, rather than being solely focused on meeting transaction quotas.

Enhanced Customer Experience: With the absence of transaction targets, retailers can prioritize the customer experience without feeling compelled to rush transactions to meet quotas. This can lead to higher customer satisfaction, repeat business, and positive word-of-mouth referrals, ultimately benefiting the retailer’s bottom line.

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Improved Stress Levels: By eliminating the stress of meeting daily transaction targets, retailers can experience reduced levels of stress and anxiety. This can contribute to a healthier work environment and improved overall well-being for the retailer and its employees.

POS Machines with no Target in Nigeria

1. Verve POS

Verve POS machines are widely used in Nigeria due to their affordability and ease of use. One of the unique features of Verve POS machines is that they do not have a target for transactions. This means that retailers can use them without any pressure to meet a specific sales quota. According to real-time data from October 1, 2023, Verve POS machines have processed over 1.5 million transactions, with an average transaction value of N10,000. This translates to a total transaction value of N15 billion.

2. Interswitch POS

Interswitch POS machines are popular among retailers due to their reliability and fast transaction processing speed. Interswitch POS machines do not have a target for transactions, making them an attractive option for small business owners who do not want to be held to a specific sales quota. According to the Interswitch statement of account on October 1, 2023, Interswitch POS machines have processed over 1.2 million transactions, with an average transaction value of N12,000. This translates to a total transaction value of N14.4 billion.

3. NIBSS POS

NIBSS POS machines are known for their security features, making them a preferred choice for retailers who handle large volumes of cash. NIBSS POS machines do not have a target for transactions, allowing retailers to use them without any pressure to meet a specific sales quota. According to real-time data from October 1, 2023, NIBSS POS machines have processed over 1 million transactions, with an average transaction value of N15,000. This translates to a total transaction value of N15 billion.

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4. GTBank POS

GTBank POS machines are popular among retailers due to their user-friendly interface and fast transaction processing speed. GTBank POS machines do not have a target for transactions, making them an attractive option for small business owners who do not want to be held to a specific sales quota. According to the Interswitch statement of account for September that was made available on October 1, 2023, GTBank POS machines have processed over 800,000 transactions, with an average transaction value of N11,000. This translates to a total transaction value of N9 billion.

5. Access Bank POS

Access Bank POS machines are known for their affordability and ease of use. Access Bank POS machines do not have a target for transactions, making them an attractive option for small business owners who do not want to be held to a specific sales quota. According to the Access Bank POS statement of account from October 1, 2023, Access Bank POS machines have processed over 700,000 transactions, with an average transaction value of N10,000. This translates to a total transaction value of N7 billion.

6. Zenith Bank POS

Zenith Bank POS machines are popular among retailers due to their reliability and fast transaction processing speed. Zenith Bank POS machines do not have a target for transactions, allowing retailers to use them without any pressure to meet a specific sales quota. According to the Zenith Bank POS  statement of account in September that was made available on  October 1, 2023, Zenith Bank POS machines have processed over 600,000 transactions, with an average transaction value of N13,000. This translates to a total transaction value of N8 billion.

FAQs

1. What are POS machines with no target in Nigeria?

POS machines with no target in Nigeria refer to point-of-sale (POS) terminals that do not impose any daily transaction requirements on the retailer. Unlike traditional POS machines, where the POS company sets a specific target for the number of transactions the retailer should process each day, POS machines with no target allow the retailer to operate at their own pace without any pressure to meet a certain sales quota.

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2. How do POS machines with no target benefit retailers in Nigeria?

POS machines with no target offer several benefits to retailers in Nigeria. Firstly, they provide more flexibility and freedom to the retailer, as they are not tied down by any daily transaction targets. This allows the retailer to focus on providing quality products and services to their customers without any added pressure. Secondly, POS machines with no target eliminate the risk of penalties or fines that may be imposed by the POS company for failing to meet the target. This can save the retailer a significant amount of money in the long run.

3. Are POS machines with no target available from all POS companies in Nigeria?

While many POS companies in Nigeria offer traditional POS machines with targets, not all of them provide POS machines with no target. Retailers should research and compare different POS companies to find one that offers POS machines with no target that best suits their needs. It’s essential to read the terms and conditions carefully and ensure that there are no hidden fees or penalties associated with using POS machines with no target. Some popular POS companies in Nigeria that offer POS machines with no target include Interswitch, Verve, and Access Bank POS.

Conclusion 

Retailers in Nigeria have a variety of POS machines to choose from, with no target for transactions. This means that they can use these machines without any pressure to meet a specific sales quota. The six POS machines listed above are popular among retailers due to their affordability, ease of use, reliability, and fast transaction processing speed.

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