How to Fix Failed POS Transaction in Nigeria

Failed POS transactions can be defeating, most especially if you’re in a hurry or need the money right away. In this blog post, we are going to discuss some tips on how to fix failed POS transactions in Nigeria. 

Usually, people use ATM card on POS with the aim to carryout fast and easy transactions, but it becomes unacceptable if the POS machine continue popping up “FAILED” notifications while receiving debit alerts on your bank account.

Here, we’re going to walk you through the process of resolving a POS debit issues and ways to avoid failed transfer and POS transactions. Now, let’s dive in.

How to Fix Failed POS Transaction

Resolving POS Transaction Errors can be done on either merchant’s backend or requires your actions. As a merchant, you must check your POS terminal to see the transaction status, and as an individual, you should report to your bank’s customer support agency for further helps and assistance.

Transacting in Mobile Money POS Agent Center

As an POS Agent

If a customer experience failed transaction on your POS terminal, here are things you can do to fix this error:

  1. Report the transaction on your POS Terminal: This feature is available on Moniepoint Agent App or POS Terminal. Merchants have the option to report a failed card withdrawal on the terminal. You if your customer card transaction failed and he was debited, you can simply report such transaction and the POS issuer will see to the situation.
  2. Wait for support: After you’ve successfully reported the transaction to the POS Customer Support Team, wait for the team to get in touch. It usually takes 48 hours. The team will credit the amount to your POS terminal balance if the money has reached their system but if it hasn’t, then the money will be refunded to the customer.
  3. Print the Failed Transaction Receipt for Victim: After you’ve confirmed from the POS support team that the fund hasn’t get to their end, print the failed transaction receipt slip from the POS machine and hand it over to the victim and advice him or her to visit his/her bank with the receipt for further assistance.

As the Victim

To resolve failed POS transaction as a customer, kindly follow the steps below:

  1. Collect The Failed POS Transaction Receipt From Agent: First of all, to try resolve failed POS transaction by yourself, kindly confirm from the agent that the money hasn’t gotten to his end. Next, ask for customer’s printed copy of the failed transaction. You can snap it or photocopy it, because it can easily get fade.
  2. Contact Your Bank: After you’ve retrieved the POS slip from the Agent, next contact your bank or visit your bank branch for complain. The easiest way to contact bank is through E-mail and phone calls. Upload the failed POS transaction receipt which must include the transaction details plus transaction session ID. The session ID or transaction ID is essential to trace or track the transaction.
  3. Wait For a Resolution: It may take 48 hours to hear back from your bank’s customer representative. However, they’ll get back to you and assure you that you’ll get back your money refunded into your account. Meanwhile, do note that it usually take 7 business days for failed POS transaction to be refunded if you log dispense error complain in bank.

Tips for Avoiding Failed Transfer and POS Transactions

Failed POS Transfer

Although, transferring money or making payments using POS can be a convenient way to manage your finances. However, it’s also essential to take steps to avoid failed transfer and POS transactions, which can be frustrating and costly. Here are some tips to help you avoid them:

  1. Make sure your Balance is Sufficient: Before you initiate a transfer or POS transaction, check your bank account balance to make sure you have enough money to cover the amount plus any applicable fees. Insufficient balance can lead to failed transaction.
  2. Double-check your Recipient’s Account Information: As a POS agent, before you process or initiate a transaction, make sure you have carefully checked the recipient’s account number or card information. Even a small mistake can cause the transaction to fail. Therefore, taking the time to double-check your customer’s account information will help you avoid errors.
  3. Beware of Transaction Limit: Some banks, card and POS systems have an imposed transaction limits. If you try to transfer or withdraw more money than the limit, the transaction will fail. However, transaction limits can help you stay within your budget and avoid overspending.
  4. Choose a Reputable POS Agent/Merchant: If you’re using a POS agent, make sure they are trusted and have a good reputation. There have been cases of fraudulent POS agents who have stolen customers’ money. Hence, choosing a reputable POS agent is important to protect your money from fraudsters who pose as merchants.
  5. Get a POS Transaction Slip: After every successful and unsuccessful transfer or POS transaction, get a receipt. As keeping a receipt of your transaction will serve as proof of the transaction and it is also a good way to protect yourself in case of any problems.
  6. Avoid making transfers or POS transactions during peak hours: When there is a lot of traffic on the banking system network, transactions can take longer to process and are more likely to fail. Therefore, making transfers or POS transactions during off-peak hours can help you avoid delays.
  7. Use Another Payment Method to Make Large Transfer: If you’re making a large transfer, consider using a different payment method, such as a bank wire transfer. They are typically a more reliable option for large transfers than electronic transfers or POS transactions.

Conclusions

In this article, we’ve discussed how you can resolve failed POS transactions and some tips to avoid failed transfer and POS transactions. As a merchant, by following these tips, you can help to avoid failed transfer and POS transactions and keep your customers’ money safe, and as a customer, if you’re having trouble with a transfer or POS transaction, don’t hesitate to contact your bank or the POS agent for help; they may be able to help you troubleshoot the problem and get the transaction done successfully.

FAQs

How can I fix failed POS transaction in nigeria online

You can simply fix or resolve failed POS transaction online through contacting your bank’s customer care service via e-mail or whatsapp and sent the the failed transaction receipt to them.

POS declined but my First Bank Account was debited, why?

Failed POS transactions can be caused by many factors. Some of them are insufficient balance, network issues, transaction limits, using untrusted POS agent, and more. However, if you’re transacting on POS machine, avoid initiating transfers during peak hours

How can I request a POS failed transaction refund?

To request a POS failed transaction refund, you can follow these steps: gather your evidence (that is, get failed transaction receipt) >> contact your bank via email or visit your Bank >> explain the situation >> request a refund >> and wait for resolution.

What is UBA failed POS Transaction?

A UBA failed POS transaction is a transaction that is initiated at a POS terminal but is not successfully processed. There are a number of reasons why a POS transaction may fail, including: transaction limit exceeded, network outage, insufficient funds, POS terminal malfunction, and invalid card information. However, if a UBA POS transaction fails, your UBA account may be debited for the transaction amount. Meanwhile, you should follow the tips highlighted in this guide immediately to request a refund.

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