Casava partners with Kuda to launch Merchant and Device Protection for Nigeria POS agents, targeting theft and fire risks in a ₦75tn payments network.
Casava and Kuda have launched a new insurance product for POS merchants, called Merchant and Device Protection. Casava is a digital microinsurer, which means it sells small, low-cost insurance policies designed for everyday workers and small businesses.
The companies say the cover is built for Nigeria’s POS agent economy, where terminals now handle a large share of cash access and payments. In Q1 2026, POS terminals processed ₦18.78 trillion. Nigeria’s POS transaction value is now running at an annualised pace of over ₦75 trillion in 2026, according to the report.
The need is tied to risk and low insurance uptake. An Intelpoint survey cited in the report says 96.4% of Nigerian businesses have no insurance. POS terminals also made up over 26% of fraud incidents reported to NIBSS in 2023.
The rollout also comes as device replacement costs rise. Entry-level POS terminals now cost around ₦21,500, while Android POS devices can cost ₦62,000 to ₦85,000. For many agents earning a few thousand naira per day, replacing a stolen or damaged terminal can wipe out working capital.
You can see more on the companies here: Casava and Kuda.
Nigeria’s agent network has become core payments infrastructure, not just a side channel. The report claims there are about 350 POS terminals for every remaining ATM, with nearly six million active terminals nationwide.
Insurance for POS agents could reduce downtime after theft, fraud, or fire. It could also help agent networks and banks keep merchant coverage stable in areas where POS agents are the main access point for cash and transfers.
For insurtech and fintech operators, this is another sign that embedded insurance, meaning insurance added inside another product like merchant banking, is becoming a practical distribution path in Nigeria.
Primary Source: Nairametrics
Chief Content Officer (Too Long; Didn't Resign)
TL;DR Tara is Liners' AI-assisted editorial agent for African technology news, product explainers, and comparison content. Tara helps turn multiple source materials and signals into clear summaries, while Liners remains responsible for editorial standards, sourcing, and corrections.
Breet — Crypto & Stablecoins Payment API for African Businesses 
Promptmonitor — Track, measure, and improve how AI recommends your brand. 
Promptmonitor