By GTBank Removes POS Processing Fees, Support Businesses with Zero Charges
Guaranty Trust Bank Ltd (GTBank) has announced the removal of processing fees on all GTBank POS terminals in a bid to support businesses with cost-effective payment solutions.
This new initiative, which took effect on Tuesday, 11 February 2025, means that merchants using GTBank POS terminals will no longer incur Merchant Service Charges (MSC) when receiving payments from customers.
The move aims to help businesses, particularly Small and Medium Enterprises (SMEs), reduce operational costs and improve customer experience.
By eliminating processing fees, GTBank is ensuring that qualifying SME merchants can now receive payments without any deductions, allowing them to retain the full value of each transaction.
Miriam Olusanya, the Managing Director of Guaranty Trust Bank Nigeria, spoke about the initiative, stating, “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.”
While the Zero Processing Charge initiative is part of GTBank’s continued efforts to provide innovative financial solutions that promote business growth and efficiency, it is expected to have a positive impact on businesses, enabling them to thrive and expand in a competitive market.
