Guaranty Trust Bank Ltd (GTBank), one of Nigeria’s leading deposit money banks (DMBs), has announced the removal of processing fees on all its POS terminals, reinforcing its commitment to supporting businesses with cost-effective payment solutions.
The POS zero processing fee initiative, which became effective from Tuesday, 11 February, indicated that merchants using GTBank POS terminals would no longer incur Merchant Service Charges (MSC) when receiving payments from customers.
A news report from African Press Organisation (APO) Group distributed on behalf of the bank, revealed that with this initiative, all qualifying SME Merchants can now receive payments at zero cost, allowing them to reduce operational expenses, whilst promoting the merchant’s enterprise, and enhancing customer experience.
Speaking on the initiative, GTB Managing Director, Miriam Olusanya, enthused: “At Guaranty Trust Bank, we are always looking for ways to add value to our financial ecosystem. By implementing the zero processing fees on POS transactions, we are empowering businesses to get the full value of every payment they receive, whilst also ensuring a more seamless and efficient payment experience.”
The news report maintained that the Zero Processing Charge campaign aligned with GTBank’s ongoing efforts to empower businesses with innovative financial solutions that drive growth and efficiency.
