DotPay POS – How to get the POS, Requirements, Targets, Charges, and Features, Dot POS Updates
DotPay is another name that recently surfaced in the mobile money or agency banking industry in Nigeria. Although unlike other agency banking services like paycentre, Readycash, Opay, etc. who’s banners are already dominating the streets of Nigeria and every cashout point, the DotPay is 100% new and yet to gain popularity at the moment but there’s light at the end of the tunnel for this company as the Nigeria market is very large and most Nigerians are sick and tired of spending endless hours at the bank to make withdrawals or pay bills.
Read also: Paycentre User Guide and How to Get Free POS
What is DotPay
DotPay(now known as Dot), which seems to have gotten its name from the recent Dot Nation trend, is an agency banking and mobile money service owned by Changan RTS Microfinance Bank Limited. DotPay is a secured Point Of Sales(POS) agency banking service device that allows individuals to carry out cash withdrawals, deposits, bill payments, and interbank transfers within their locality without visiting any bank.
Who is Behind DotPay?
Dotpay is owned by Changan RTS Microfinance Bank Limited with its operational name as Dot Microfinance bank limited with registration number RC 232534 and its office located at No. 366 Murtala Mohammed Way, Yaba Lagos State, Nigeria.
Read also: ReadyCash User Guide and How to Get Free POS
Features of DotPay POS
The DotPay POS is an Android-based POS that has the ability to carry out card withdrawals, print receipts, pay bills, and do transfers. The company also promised to add balance checking and other features in the near future.
How Much Is DotPay POS?
The DotPay POS is not for sale however, agents are to pay a caution fee which is capped at 25,000 (this means you are not to pay above 25,000 to get the POS from an aggregator or ambassador). You are to get a N10,000 refund if you stop using and return the device within 6(six) months from the date you got the device. If the return or retrieval is done after 6(six) months, you are entitled to nothing.
This money can be paid before or during delivery depending on your negotiations with the aggregator or ambassador(beware of scammers only pay if you can trust the aggregator or ambassador.)
Read also: Opay User Guide and How to Get a free POS
DotPay Agent Target
Unlike other companies which require a certain amount daily as a target to its agents, DotPay has no fixed amount as a target; rather all agents are expected to perform a minimum of 20(twenty) transactions daily irrespective of the amount. If an agent fails to meet this target consistently, his or her POS will be retrieved by the aggregator who issued the device or any other aggregator assigned by the company.
DotPay Charges
Below is the breakdown of charges per transaction on DotPay.
Breakdown of charges
1k = 5 naira
2k = 10 naira
3k = 15 naira
4k = 20 naira
5k = 25 naira
6k = 30 naira
7k = 35 naira
8k = 40 naira
9k = 45 naira
10k = 50 naira
11k = 55 naira
12k = 60 naira
13k = 65 naira
14k = 70 naira
15k = 75 naira
16k = 80 naira
17k = 85 naira
18k = 90 naira
19k = 95 naira
20k = 100 naira
20k to infinity = 100 naira.
Deposit is N25 flat rate.
Read also: Opay Loan, How to Apply and Interest Rate
How To Become A DotPay Agent
To become a DotPay POS agent, you need to complete the agent registration form and provide a valid means of identification (National Identity card, NIN slip, international passport, driver’s license, etc.), a recent utility bill, and a passport photograph. The agent registration can be done by visiting the company’s office above or by contacting any of the company’s aggregators(Contact me on 07035543056 if you are within Rivers State, Owerri, and Bayelsa). You can also get the DotPay POS from any of the channels mentioned above.
List of Requirements Needed
- Utility bill
- Passport photograph
- Your BVN
- Valid Identity Card
Dotpay Loan and How to Get It
As a Dotpay POS agent, you are eligible to get a loan from the company although this feature is still in the pre-stage right now and the company is yet to fully state what the criteria would be and the minimum and maximum amount an agent is eligible to get and what qualifies each person to get a certain amount.
At the time we spoke with one of the marketing managers, he said only active agents will be eligible for the loan when it’s fully rolled out but did not give full information as to when the loan option will go live and how many percent interests would be charged. We are keeping in touch with them and will update you as soon as further information is available.
Update: The loan information is now available, click the link below to read all about it.
Read also: Dotpay Loan – How to Apply and Interest Rate
Fresh Updates from Dotpay
As promised during its launch in 2021, Dotpay has rolled out its balance checking feature so all agents can now help their customers check their account balance before making withdrawals.
Airtel purchase option has also been added while the company promised to add data purchase before the end of the first quarter of 2022.
Update
- Data purchase option have been added.
- Daily Loan option have also been added
- More utility bill and bet funding options are alvailable
Dotpay Mobile App
The Dotpay mobile app will be launched for downloads from the Google play store in the second quarter of 2022 as the app is currently being developed and will soon be rolled out for testing.
Other Products of Dotpay
In January 2022, Dotpay announced the launch of three new products added to the Dot family and these products include;
- Dotbank – a digital banking service that will work like the popular kuda bank. More on this in our new contact
- Dot SME – this service powers the Dotpay Loan service which is currently being tested in Lagos. A full review of this is coming soon.
- Dot insurance – this is an insurance service for both agents and individuals.
All these products have been announced and we will be doing a proper review before the end of March 2022 to help you understand them and how you can benefit from each one.
Product update for Dotpay 2023
Agent commission: Agents now earn commission from bill payments and the commission is kept in their commission wallet
Mobile App: The mobile app is now fully active and agents can login with their username and password. Note that you can only log in and use this app on only one mobile phone.
Transaction Statement now on Terminal: This report shows the total number and amount of each transaction type done by an agent so you can see the number and amount your staff has done for the day.
Notification: All information regarding new updates, is now pushed to the terminal automatically so agents are advised to click on the bell notification to see the new updates.
Dispute Log and Response Meaning
As a Dotpay POS agent, you are expected to log disputes for any failed transaction that occurs on your machine, this dispute takes a certain period of time to respond to, and this usually takes 24h hours to 48 hours for work days and 72 hours for weekends.
After this period of time, the agent is meant to check the feedback for the dispute logged and you can see this on your terminal under logged dispute, and the response usually is;
- Open: This means the issue is yet to be attended to
- Closed: This means Dotpay did not get value for the transaction hence the money is with the customer’s bank and the agent must instruct the customer to visit his or her bank to fill dispense error form.
- Resolved: This means the Dotpay agent has been sent the value of the money debited from the customer so at this point, the agent is to pay the customer. If you feel you didn’t receive the money, make sure to check your wallet via a web browser on the Dotpay website. You can watch my video regarding this on YouTube.
Banking Network Checking
Dotpay now known as Dot has launched the network signal strength feature that helps agents know which bank has a good or bad network. This can be seen on the terminal.
Wallet Synchromisation
You can now receive a credit alert in your POS when someone sends money to your linked Dotbank account on the machine.
If you are interested in the loan option or have questions you would like us to ask them, kindly leave a comment below.
Dotpay POS Video Review – Here is the Live POS and Package
Final words
This company is still very new with lots of potential to compete with others in the market and at the moment, the device is easy to access(I can’t say what will happen in a few months). The charges are also okay and since it is completely new, the network speed will be very okay hence I do encourage you to key into it now and start making daily instant dropping commissions.
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