Back
GTBank Removes PoS Processing Fees as Operators Move to Hike Costs Amid New ATM Charges
Feb 13, 2025
Guaranty Trust Bank Limited has halted processing fees for all its PoS terminals to boost businesses
The new initiative became effective on Tuesday, February 11, 2025, with the bank saying that merchants will not be charged for using its PoS
The development comes after the Central Bank of Nigeria (CBN) eliminated three free monthly withdrawals at ATMs
Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.
Guarantee Trust Bank has ended processing fees on all its Point-of-Sale (PoS) terminals, boosting its commitment to supporting businesses with low operating costs.
The initiative became effective on Tuesday, February 11, 2025, with the bank disclosing that merchants using GTBank PoS terminals will no longer be charged for Merchant Service Charges (MSC) when getting customer payments.
GTBank reveals the reason for the new policy
The zero processing charge initiative aligns with the bank’s efforts to empower businesses with creative and financial solutions that drive growth and efficiency.
BusinessDay reports that all eligible SME merchants can now receive zero payments, which allows them to reduce operational costs, promote merchant enterprises, and boost customer experience.
14Shares
0Comments
6Favorites
7Likes
No content at this moment.