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Job Description And Average Salary Of POS-Agent Banking Officer In Nigeria

Salary Of POS-Agent Banking Officer In Nigeria

In the space of 3 years, POS has consistently been offering job opportunities to job seekers in Nigeria. Many thanks to the digital and retail banking innovation adopted by Nigerian banks. You can work with a financial institution as a POS-Agent banking officer, POS technician, support officer, or in the area of merchant acquisition. Individuals with lesser qualifications can work with a small-scale business as a POS attendant. In this post, we will be taking a look at the job description and average salary of POS-Agent banking officers in Nigeria.

What Is POS?

This is the location where a customer completes the payment for products or services and where sales taxes may become due. POS simply means Point Of Sale. These days POS is an essential component of a business. It may be at a physical sales point like a retail location where card payments are handled by POS terminals and systems, or it may be a virtual sales point like a computer or mobile device.

Brief Details About POS

Since consumers frequently choose to buy high-margin goods or services at these purposeful locations, points of sale (POSs) are a key area of focus for businesses.  To improve the rate of impulsive purchases when customers leave the store, retailers traditionally place a POS close to the exits. However, different POS locations might provide retailers with more chances to micro-market particular product categories and have an impact on customers early in the sales funnel.

For instance, department stores frequently offer POSs for certain product categories like clothes, electronics, and appliances. Instead of only handling transactions, the specialized staff known as a POS attendant or cashier can actively market products and help consumers make purchasing decisions. Similar to this, a POS’s format might influence sales or consumer behavior because it gives customers a variety of options when making a purchase.

Importance Of POS To Businesses

By automating the transaction process and keeping track of crucial sales information, electronic POS software systems enhance retail operations. An electronic cash register and software to coordinate data gathered from everyday purchases are included in basic systems. Installing a network of data-capture devices, such as card readers and barcode scanners, can allow retailers to expand functionality. Retailers can monitor price accuracy, inventory fluctuations, gross revenue, and sales patterns depending on the program’s capabilities. 

Retailers can detect inconsistencies in pricing or cash flow that could result in profit loss or disrupt sales by using integrated technology to track data. It helps retailers minimize problems with customer service, such as out-of-stock sales, by using POS systems that track inventory and purchase patterns. They can also better target their marketing and purchasing to match client behavior.

Average Salary Of A POS Attendant In Nigeria

Based on salary estimates of POS attendants in Nigeria, the average salary of a POS attendant in Nigeria is between 15,000 Naira to 20,000 Naira.

Average Income Of A POS Merchant In Nigeria

POS has made some people with an entrepreneurial mindset in Nigeria become business owners or self-employed. These days there are lots of POS merchants in the nook and crannies of Nigeria. This has created jobs and reduced unemployment to a large stent. Based on the feedback we were able to get from people operating POS businesses in Nigeria, a POS merchant in Nigeria can make between 70,000 Naira to 200, 000 Naira in profit monthly depending on the volume of transactions made. 

Job Description Of A POS-Agent Banking Officer In Nigeria

  • The POS-Agent banking officer shall be responsible for managing the merchant acquiring business from a product perspective.
  • Design, develop, and roll-out out additional and innovative features that would help the bank to attract and retain its growing merchant base.
  • Drive the performance of the products under target metrics, customer growth, adoption rate, cost optimization, fraud management, income generation, etc.
  • Facilitate engagement with industry payment partners and stakeholders, assessing market risks, evaluating fresh opportunities, and converting them to value benefits for the bank.
  • Provide weekly/ monthly business intelligence reports on merchant’s behavioral patterns.
  • Provide daily business direction and monitor POS transactions on Terminal Management.
  • Generate active, inactive, potential merchants across the bank network and advise the relevant parties and follow up.
  • Collate market intelligence on new/existing product features, technology, and competition to drive product capability improvements and guide the sales team on opportunity pools and product campaigns for first mover advantages.
  • Collate feedback from the sales teams to develop new products and product features to dominate the market.
  • Standardize proposals, pricing, vendor acquisition, performance reporting, etc. framework and share with the SBG
  • Follow new merchant services banking technologies and translate them to new business opportunities.
  • Manage merchant service products profitability by optimizing subscription and usage (maximize transaction throughput and pricing)
  • Monitor and report performance of deployed POS products for all SBGs and optimize their usage.
  • Support sales effort involving multiple countries down to branch level to drive merchant service channel subscription and usage.
  • Manage alliances with vendors to drive market penetration, product improvement, and innovation at minimal cost
  • Support growth and productivity initiatives of the SBGs.
  • Train and provide knowledge and sales tools for e-Sales teams and marketing/relationship managers.
  • Drive public awareness on merchant service products, internal and external.
  • Ensure compliance with Central Banks guidelines, ISO guidelines, and documentation·
  • Address all Audit and control identified exceptions.
  • Monitor and report POS activity to aid some business decisions and interventions as required.
  • Monitor, track and capture service downtime and escalate when necessary projects are delivered on time.
  • The POS-Agent banking officer shall be responsible for managing the merchant acquiring business from a product perspective.

Average Salary Of POS-Agent Banking Officer In Nigeria

We are sure you want to find out the monthly salary of a POS-Agent banking officer in Nigeria. Based on the salary estimated from 2 people who work in this role, the average monthly salary for POS-Agent Banking Officer in Nigeria is 145,000 Naira. 

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Average Salary Of POS-Agent Banking Officer In Nigeria

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1 Comment

  1. Ogungbemi Dorcas
    July 27, 2022

    Please can I get a POS job in oshogbo

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