When it comes to selecting a POS partner for your business, the choices you make today can significantly impact your success tomorrow. In this dynamic landscape, two prominent players stand out: Moniepoint and PalmPay.
Let’s find out which aligns with your operational needs and growth aspirations. From transaction fees, user experience, integration capabilities, customer support, and security protocols, you would be able to find out which partner best aligns with your business’s unique requirements and long-term goals.
Cashback Rewards
Moniepoint offers cashback rewards, and users enjoy features like this. PalmPay, on the other hand, redefines the game with one of the industry’s highest cashback rates. With Moniepoint, you get cashback rewards, but with PalmPay, you get it at the best rate in the industry. This means that you get to experience a partnership that values your transactions and rewards them handsomely.
As a PalmPay agent, you can get 16% p.a. interest on flexible savings with free transfers and withdrawals on saved funds at any time. (Similar to the cashbox feature of the PalmPay app but the Interest rate is 16% p.a.)
User-Friendly Experience
While both platforms boast user-friendliness, PalmPay takes it a step further. Its intuitive interface makes financial management a breeze. 90% of users testify that transactions are never a hassle. Plus, with PalmPay’s unwavering commitment to security, your transactions are not only easy but also safe and reliable with the advanced security system it possesses.
The dashboard of the PalmPay business app offers a transparent summary of commission statuses across various transaction scenarios, including bill payments like airtime, electricity, lottery etc. This feature amplifies the potential to increase earnings by presenting a range of diverse income-generating opportunities.Â
Transaction Charges
Unlike other POS terminal providers, PalmPay charges you based on the number of daily transactions you complete, ensuring transparency and fairness. PalmPay’s POS Cashout/Deposit is as low as 0.4%, with commissions of up to 20%. Their transaction costs are generally lower with high earnings daily. This is arguably a fair deal considering that it allows for flexibility and operates a pay-as-you-go system. If you prefer fixed prices, however, then Moniepoint is your match. Additionally, transfers between PalmPay Agent accounts are free of charge.
Here’s a visual representation of the rates side by side
The above shows the comparison of rates between PalmPay and Moniepoint. If you ask me, PalmPay sounds like a better deal. But then again, the choice is all yours. Where would you rather pitch your tent?
