How to Reset Business PIN on Moniepoint POS

First of all, I want you to understand that the Moniepoint business PIN is totally different from your POS terminal PIN. The Moniepoint business PIN is the 4-digit secret transaction PIN you create for your Moniepoint business account. It can be used across all Moniepoint products, including the POS, to authorise sensitive actions like sending money, approving POS transactions, managing account settings, and confirming payments and withdrawals.

The Terminal PIN, on the other hand, is the password that is used to only unlock and access the POS device itself. It protects the terminal from unauthorised users. Unlike a business PIN, it is not used to approve or authorise transactions. Its main purpose is to secure the POS machine from misuse or unwanted access.

The two PINs can be reset using two different methods: The business PIN can only be reset on the Moniepoint business banking app or through the web version, accessible via atm.moniepoint.com. The terminal PIN/password can only be reset on the POS terminal itself. However, I'm going to walk you through both methods of resetting these PINs in this guide. Let's dive in.

How to Reset Moniepoint Business PIN

Follow these steps to successfully reset your business PIN on the Moniepoint business banking app:

Launch your Moniepoint Business banking app and log in using your vital information.
Choose the business account you want to change its PIN for and click on the triple bar icon at the top left corner of the screen to access the dashboard's menu.
On the Menu, click on the settings icon and choose security.
Click on “Reset Business PIN” and confirm your actions by inputting your account password.
Enter the new PIN and re-enter it in another designated space to confirm it.
Click on “Change PIN", and Moniepoint will send you an OTP code to the linked phone number.
Enter the OTP in the designated space. If you don't get the SMS containing the OTP, you can dial the *5573*73*5485# OTP USSD banking shortcode on the phone number linked to the account to retrieve the code.

Note: After inputting the OTP code, your business PIN will be reset. Now, you'll need to restart your POS terminal for the new PIN to take effect.

This method can be done on iPhones, iPads, tablets, Androids, and any devices running the iOS and Android OS software. It's also the solution if your POS business PIN is blocked due to multiple incorrect entries.

How to Reset Moniepoint Terminal PIN/Password

The terminal PIN/password is the security code you placed at the entrance of unlocking your POS device; it's not a transaction/business PIN. To reset this PIN:

You will need to first restart your POS terminal.
Once it comes on, tap the menu button (the three dash lines) and navigate to the bottom of the find settings menu.
Under the settings, you can reset the authorisation PIN.
You will be required to confirm your previous PIN to set a new one.

This method is also known as resetting your POS machine password.

How to Flash Moniepoint POS

If you factory reset your Moniepoint POS device, the terminal password may be erased, but the business PIN will remain intact. It's also important to let you know that factory resetting a Moniepoint POS device depends on the terminal model (for example, a SmartPOS, Android POS, PAX, Sunmi, or Newland device), but many Moniepoint terminals follow a common factory reset method.

On your POS terminal, you'll need to open the “Settings” menu and navigate to “Device Settings”. Select “Backup & Reset”, then use the “Factory Data Reset” option. You will be required to enter the terminal PIN/password and tap on “Confirm Reset”. The POS device will reboot and erase local data/settings.

Method 2: This method is effective if your POS device is locked. Then you will need to try the recovery mode by turning off the device. Once the device is completely shut down, hold the power button + volume up together. On some models, it's the power button + F2 or the power button + 0.

Release them when the recovery screen appears, and use volume keys (up and down) to navigate the screen. Select: Wipe data/factory reset >> Confirm with the power button >> Reboot device.

Important Notice: Moniepoint POS terminals are locked to the Moniepoint server, so you may need the Moniepoint activation code after you flash your device. Even though the device works as expected and no code is required, some Moniepoint apps reinstall automatically after login and some may not. Any or all of these things can happen after a factory reset because many Moniepoint POS devices are MDM-protected, meaning only Moniepoint can fully reactivate them after a reset.