GTBank eliminates POS processing fees to support businesses

Guaranty Trust Bank has scrapped POS processing fees, allowing merchants to receive payments at zero cost and boost their businesses

 

[dropcap]G[/dropcap]uaranty Trust Bank Ltd. has announced the removal of processing fees on all GTBank POS terminals, reinforcing its commitment to providing cost-effective payment solutions for businesses.

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Effective from Tuesday, 11 February 2025, merchants using Guaranty Trust Bank Nigeria’s POS terminals will no longer incur Merchant Service Charges (MSC) when receiving payments from customers.

This initiative is aimed at reducing operational costs for businesses and enhancing the overall payment experience.

With this move, all qualifying small and medium-sized enterprise (SME) merchants can now process payments at zero cost.

This not only helps them cut expenses but also boosts their profitability while improving customer satisfaction.

“At Guaranty Trust Bank, we are always looking for ways to add value to our financial ecosystem,” said Miriam Olusanya, Managing Director of Guaranty Trust Bank Nigeria.

“By implementing zero processing fees on POS transactions, we are empowering businesses to get the full value of every payment they receive while ensuring a seamless and efficient payment experience.”

The Zero Processing Charge campaign aligns with GTBank’s broader strategy to equip businesses with innovative financial solutions that drive growth and efficiency.

This move positions the bank as a leader in business-friendly financial services, offering merchants an incentive to adopt digital payment methods without additional costs.

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For further details, merchants are encouraged to contact their Relationship Managers or reach out to the Digital Banking Support Team at poshelpdesk@gtbank.com.