Guaranty Trust Bank (GTBank) has announced the removal of Point of Sale (POS) processing fees, effective Tuesday, February 11, 2025. This move aims to support businesses by providing cost-effective payment solutions. Merchants using GTBank POS terminals will no longer incur Merchant Service Charges (MSC) when processing customer payments.
This zero-cost initiative allows qualifying Small and Medium-sized Enterprise (SME) merchants to receive payments without incurring operational expenses. GTBank believes this will help businesses grow, improve customer experience, and maximize the value of each transaction.
Miriam Olusanya, Managing Director of Guaranty Trust Bank Nigeria, explained that this initiative reflects GTBank’s commitment to adding value to the financial ecosystem. She stated that removing processing fees empowers businesses to receive the full value of their payments while also creating a more seamless and efficient payment process for merchants and customers.
The Zero Processing Charge campaign aligns with GTBank’s ongoing strategy to provide businesses with innovative financial tools that foster growth and efficiency.