Kudi is a Fintech app that seeks to improve financial transaction in Nigeria, with kudi you can make payment, take loan, save and many other things. It is cofounded by Yinka Adewale (Cofounder, CEO) and Pelumi Aboluwarin (Cofounder, CTO). Since the inception of it establishment it continue to grow.
In this article you will not only learn about kudi pos but the mobile app too, and how to become kudi agent in fact everything thing about kudi, so get ready for a long read.
What product does kudi offer
As I wrote above kudi is not just a pos terminal, it is a mobile app that has many functions. Some of this functions are
1) Make Payment
You can send money to family and friends with kudi and not only that you can also make payment for your electricity bill, buy airtime and others.
To do that you will need to add money to your account either by using card or transfer to your kudi account and you know what the transaction fee is less to nothing compare to banks charges.
Another function on kudi mobile app is saving, you can save your money while growing some interest. The interest rate on each savings depend on the amount you save and the time your money spend before withdrawer
Kudi also give loan to their customer, but as a first timer you will not be able to get higher amount, until you take loan and payback regularly and when taking loan on kudi know that your credit score will be checked so ensure you have not defaulted before.
Kudi POS terminal
Like Opay, kudi also operate POS terminal where their agent can help people to send and receive money while they get commission on each transaction.
Their POS is one of the best in the country because they charge less and give good commission to their agent.
No mobile app exist without venturing into businesss segment so do Kudi, they provide tools that will improve their customer business, all this with less cost compare to others.
Kudi POS machine
Kudi pos machine helps business to receive money from their customer therefore promoting cashless policy and not only that individual known as agent can set up branch to help people save, receive and transfer money.
One of the interesting thing about kudi pos is that it is free though you can pay some amount if you want it to be fast.
Transaction you can perform on kudi POS
Virtually every transaction you can perform with kudi mobile app you can do so with kudi POS.
- Cash withdrawals
- Electricity bill payments
- TV subscriptions
- Airtime and data purchase
Requirements for getting Kudi pos machine
Before you can get a Kudi pos you need to have the following
- Government issued I.D card
- Utility bill
- Passport photographs
How to get kudi POS machine and become agent
There are two ways of getting kudi pos, either you wait and get it for free or pay for it.
Getting kudi POS machine for free
To get the machine you need to go to play store and download the app
Register and login in to the app
Carry out transaction with the app for two weeks
After two weeks Kudi will send you a message that you are eligible for POS
What If I did not receive any message? Once you are sure you carried out transaction with the app frequently for two weeks, head over to ‘”accept payment” section on your kudi app dashboard
Click on “terminals’ and then click on “request a new terminal”
Chose a terminal type and quantity
Then submit or confirm your request
But this takes time and for those that can not wait the solution is to pay for it
How to get kudi POS machine by payment
Locate a nearest kudi office
Obtain a form from the kudi agent, fill and submit
You will be require to make a payment of #20,000 (non refundable)
There your application will be approve and a
kudi POS machine will be deliver to you.
Kudi POS charges
Below are the charges on Kudi pos
₦100 – ₦4,500 charges is ₦25
₦4,501 – ₦25,000 charges is 0.6%
₦25,001 – ₦500,000 charges is ₦150
Kudi charges 0.7% for any transaction, individual agent can charge as much as they want from their customer but surely you should compare your charges to what other agent around you are charging
Kudi pos terms and condition
Outstanding premium must be deducted before claim settlements
Agents must always ensure that their outlets are well secured
Cash must not be kept in premises unless in safe/vaults
There should be security to safeguard business premises
Withdrawal of cash must be done by the agent or a senior staff
Agent’s negligence won’t be claimed
Cash must not be left unattended or unaccompanied
15% policy excess will be deducted on each and every claim settlement
Claim threshold must not be reported more than (2) times a year (Fidelity guarantee related claims only)
Details of an employee, including salary proof must be provided in case of infidelity of such employee (Fidelity guarantee related claims only)
No refund of previously paid premium when insurance is deactivated
In case of any problem below is where you can contact kudi
19b Bosun Adekoya Street, Lekki Phase 1, Lagos, Nigeria
Kudi Phone number
01 888 5008
Kudi email address
Question and Answer
How much is Kudi Pos terminal
Kudi pos terminal price is around #20, 000 to #30,000 depend on your location.