A Nigerian man has recounted how his friend’s bid to escape financial dependence by starting a POS business nearly ended in an unexpected loss on its very first day.
He explained that his friend had rented a small shop, purchased a POS machine, and begun advertising himself as a trustworthy agent. But his excitement over the new venture soon faded after his first customer asked for a ₦20,000 withdrawal.
According to the story, the transaction failed, yet the friend’s bank account was debited, putting him in an uncomfortable position with the customer.
Recounting the incident, the man said, “On his first day, a woman came to withdraw ₦20,000. He confidently told her there was no problem. After inserting her card, the transaction failed, but his account was debited.”
The failed transaction left the new POS agent facing a challenge he never saw coming. The customer reportedly insisted on staying in the shop until she received her money.
The man explained that his friend eventually had to use his own savings to pay the customer, even though he had only just opened the business.
He added, “The woman refused to leave. She sat inside his shop and told him she wasn’t going anywhere until she got her money. Eventually, he had to transfer his personal savings to her. After the woman left, my friend sat down, looked at his POS machine and said, ‘I opened this business to make money, not to use my personal account to sponsor people’s withdrawals.’”
The experience highlighted an unexpected challenge for the new business owner, who had hoped to earn money rather than spend his savings covering failed transactions.
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