Point of Sale (POS)

A Point of Sale (POS) terminal is a portable electronic device that abridges payment for value between a cardholder and a merchant. The POS accepts payments by processing information stored on the smart chip (or magnetic stripe) of a payment card.

Step 1: Insert card
Step 2: Press keys with digits to enter value of goods e.g. N21, 569:00k
Step 3: Press green key to validate amount
Step 4: Enters PIN and presses green key to confirm PIN
Step 5: Terminal screen reads transaction status - approved or declined
Step 6: Press green key to print customers receipt Step 7: Press green key to print duplicate (merchants) receipt

I. Cardholder gets instant debit for a successful transaction, so there is the peace of mind that you will be paid for approved amount
II. Merchant (business owner) receives credit within 24 hours (except weekends)

  • Better and faster way of making payments
  • Convenient to use for all amounts as cash payment could be bulky
  • Deposits money electronically into your account without having to go the bank
  • Reduces risks of theft and cash handling
  • Transactions can be monitored online real time
  • MIS report can be generated anytime on the PoS terminal for you
  • Increases sales as customers buy more with cards than cash at hand
  • The economy now demands card payment as a preferred option to cash with large handling charges imposed for individuals and companies who withdraw and pay in cash

Diamond Bank is pleased to introduce to you our online multi-card Point of Sale (PoS) for the payment convenience of your customers. The PoS is designed to offer you utmost security and convenience of accepting debit and credit card transactions done with Visa, Verve and Master cards issued both in Nigeria and abroad! With over tens of million cards already issued by Nigerian Banks and still growing, the PoS terminal offers you one of the most compelling means of growing your business while eliminating cash handling difficulties.

  • Cash handling charges will be eliminated once more people pay with cards.
  • Free support services such as repairs, training, terminal upgrade, settlement reports
  • Free merchandizing and promotional materials; stickers, danglers, decals, etc.
  • Zero COT for our Businessxpress customers
  • Easy access to business loans
  • Entrepreneurial guide at a discounted rate
  • Access to Diamond Bank Credit Cards for you and your customers
  • Customers of Best-Performing locations will be rewarded with gift items to encourage loyalty
  • Promotional items such as signages, stickers, danglers will be provided free of charge.

Based on CBN policy on cash lodgments and withdrawals, all businesses that accept cash up to N500, 000 for individuals and up to N3, 000,000 for corporate customers for their daily business transactions require a PoS terminal to avoid being charged from 2% in excess of the approved free lodgment limit. These include Supermarkets, Hotels & Restaurants, Electronic Shops, Pharmacies, Boutiques, Hospitals, Distributorships, Airlines, etc.

I. Kindly pick up an application form from any of our branches nearest to you OR through your Relationship Officer
II. Fill up the form and return the same after completion
III. The PoS terminal is deployed at your business location within 4 working days free of charge!
Terms and condition for free POS deployment apply

  • Convenient to use for all amounts.
  • Reduces risks of theft and other risks associated with cash handling
  • Saves the time for counting cash.
  • Payment is guaranteed as the bank becomes an integral part of the payment cycle
Merchant CategoryMaster / Verve CardsFee CapVisa CardsFee CapFee Bearer
General Merchants0.75%N1,2000.75%N1,200Merchant
Airline Operators0.75%N1,2000.75%N1,200Merchant
Fuel Stations0.69%N/A0.69%NAAcquirer
Fast Food, Churches & NGOs1.25%N1000.75%N1,200Merchant
Hotels and Guest Houses1.25%NA2.00%NAMerchant
Travel AgenciesN200Flat Fee1.25%NAMerchant


CategoryCard TypeTransaction Fee (%)*Capped (N)
HotelVisa Card (Local)4.5%Not Applicable
MasterCard (Local)4.5%Not Applicable
Verve Card (Local)1.25%Not Applicable
Visa ( Foreign)***4.5%Not Applicable
MasterCard (Foreign)***4.5%Not Applicable
OthersVisa Card (Local)3%Not Applicable
MasterCard (Local)3%Not Applicable
Verve Card (Local)0.75%N1,200
Visa ( Foreign)***3%Not Applicable
MasterCard (Foreign)***3%Not Applicable

*Applicable charges apply.



Would you like the convenience of being able to pay on the move? Wherever your busy day takes you, Diamond mPOS offers you a convenient way of accepting payments using the one item you never leave home without - your cell phone.

Would you like the convenience of being able to pay on the move? Wherever your busy day takes you, Diamond mPOS offers you a convenient way of accepting payments using the one item you never leave home without - your cell phone.

  1. Faster, easier, secure and convenient payment process
  2. Increased revenues from sales
  3. Improved customer service
  4. Easy to use and carry about
  5. Analyze sales patterns

Generates e-receipts – receivable by sms or email

Diamond mPOS lets you track sales and analyze inventory levels on an item-by-item basis. Our mPOS records each sale when it happens, so your inventory records are always up-to-date. Better still, you get much more information about the sale than you could gather with a manual system. Now you can make better decisions about ordering and merchandising.