How much does the Lenco Terminal (POS) cost?
Lola avatar
Written by Lola
Updated over a week ago

POS Pricing Options:

Please find the POS pricing table below to help you decide on what you can order:


Buy Once

Buy by Weekly Installment

Lease

Purchase price

₦75,000

NA

NA

Caution fee

NA

₦20,000 (non-refundable)

₦20,000 (refundable)

Insurance

NA

₦1,500

₦1,500

Weekly repayment

NA

₦2,000

NA

Merchant Service Charge (MSC)

0.5% capped at ₦100

0.5% capped at ₦100

0.5% capped at ₦100

Minimum monthly transaction count

NA

NA

400

Minimum monthly transaction volume

NA

NA

₦3,000,000

Extra condition

NA

Terminal withdrawal if there's a default in weekly repayment for six weeks

Terminal withdrawal if the minimum requirement is not met within 60days of deployment

See below for more breakdown of the Pricing Options:

Option 1 – Buy Once - OUTRIGHT PURCHASE

  • Purchase Price - ₦75,000

  • You own the terminal. Hence, you do not have to meet up with any transaction count, and the terminal cannot be withdrawn.

  • Merchant Service Charge (MSC) - 0.5% capped at ₦100 (For all transactions, you would be charged 0.5%. However, the most you can ever be charged is ₦100).

  • Instant settlement - We settle you instantly for all payments through the terminal.

Option 2 – Lease Terminal - LEASE (RECOMMENDED FOR MERCHANT COLLECTIONS)

  • Caution Fee – ₦20,000 (Refundable deposit)

  • Insurance - ₦1,500

  • Merchant Service Charge (MSC) - 0.5% capped at ₦100 (For all transactions, you would be charged 0.5%. However, the most you can ever be charged is ₦100)

  • Instant settlement - We settle you instantly for all payments through the terminal.

  • Terminal Performance Requirement:

    • Minimum monthly transaction count – 400

    • Minimum monthly transaction volume – ₦3m

P.S. – The terminal will be withdrawn if the merchant does not meet the minimum requirement within 60 days of deployment.

Option 3 - PaySmallSmall - BUY BY WEEKLY INSTALMENT PAYMENT

  • Caution Fee – ₦20,000 (Non-refundable deposit)

  • Weekly repayment - ₦2,000

  • Insurance - ₦1,500

  • Merchant Service Charge (MSC) - 0.5% capped at ₦100 (For all transactions, you would be charged 0.5%. However, the most you can ever be charged is ₦100).

  • Instant settlement - We settle you instantly for all payments through the terminal.

P.S. – The terminal will be withdrawn if the agent or merchant defaults in the weekly repayment for six weeks.

The Lenco POS is strictly for collections; as such, you cannot access agency banking features such as withdrawal, bill payment, airtime, and data purchase.

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