FCMB POS Agent Banking Service is a new banking approach adopted to ensure all financial inclusion. Agent Banking is part of the Central Bank of Nigeria (CBN) financial initiatives. The aim is to achieve financial inclusion by targeting the unbanked and underbanked people in rural areas.

How to Become FCMB POS Agent

FCMB POS Agent is a system that provides banking and financial services to members of the community. The system helps people within the community to access banking facilities in places where banking presence is scarce or limited.

To become an FCMB POS Agent, you will undergo some processes. Here are some of the processes to go and the things you need to know.

FCMB POS Agent Requirements

Before you can apply and become an FCMB POS Agent, there are certain requirements you need to have in place. FCBM will ask you about your capacity and ability to run a POS agent banking service. However, to help you prepare yourself and be on the safer side, the following are the FCMB POS agent requirements:

• Business Location: If you already have an existing business, then, you are good to go. You need a good business location where you can provide financial services to customers.
• Open FCMB Account: You must have an FCMB account holder before you can becoming their POS agent repesentative.
• Start-up Capital: You know part of you job is to help customer withdraw and deposite money. So, you need a start-up capital to be able to pay customers who came to withdraw money.
• BVN: The bank need your BVN to help them process your agent membership
• Your to read, write, and communicate. Good customer relationship is

Apply for FCMB POS

To become an FCMB POS Agent, you will need to visit the FCMB office in your city and indicate interest to become an agent. The customer care department will attend to you and provides all the information you need to become an FCMB POS Agent.

The Roles of FCMB POS Agent

FCMB Agent Banking is a simple user-friendly agent banking network and one of the most cost-effective ways of providing secured banking services to people in the rural community.

Your major roles as an agent banking include:

1. Account Opening.
2. Instant Card Issuance.
3. Cash Deposit.
4. Cash Withdrawal.
5. Funds Transfer.
6. Airtime Recharge.
7. Bills Payment.
8. BVN Enrolment and PIN Change etc.

FCMB POS Terminal

FCMB POS is designed and configured to facilitate the exchange of value between cardholders and merchants. With FCMB POS terminals, you can accept and use online debit cards for transactions from the merchant location. Your merchant account will be credited with the corresponding debit at settlement.

FCMB POS terminal accepts all cards issued in and outside Nigeria from cardholders of all the banks such as Verve, VISA, and MasterCard. International card acceptance will be activated strictly on the merchant’s request.

From the FCMB POS terminal, you can perform the following banking and financial operations for customers:

1. Payment for goods and services purchase
2. Cash Back services
3. Pre-Authorization service
4. Card Not Present service
5. Air time recharge
6. Bill payment (PHCN, DSTV, etc)
7. Payment Reversal option
8. End of Day transaction report
9. Customizable for different schools, industries, scheme that will capture transaction details as specified by the organization with online reporting features

Benefits of FCMB POS Terminals

1. Increased sales volume – Customer satisfaction
2. Instant confirmation of payment via CTMS platform
3. Speed of check out as payments are authorized quickly
4. Improved operational efficiency
5. Opportunity to earn fee income from cash back service
6. Easy cash evacuation at zero cost
7. Transaction security and integrity is assured
8. Promotes impulse purchase and payment by cardholders
9. Reduces your exposure to loss due to robbery or pilferage by employees
10. Eliminates fraud and makes accounting easier
11. Accepts all variance of debit cards of all participating banks in Nigeria

With Prompt settlement of funds within T+1 for local cards and T+2 for international cards

Check out how to become a Paycentre Agent Banking

Agent banking is a highly lucrative business with little startup capital. All transactions you provide to customers will attract commissions from the First City Monument Bank. This is in addition to the service charges you collect from your customers.

Visit www.fcmb.com to access information on other products and banking packages.