Businesses using Guaranty Trust Bank (GTBank) POS terminals can now accept payments at zero cost, following the bank’s decision to waive processing fees on its terminals. This move is expected to ease financial pressure on merchants while making GTBank’s POS services more attractive in an increasingly competitive market.
“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,” said Miriam Olusanya, Managing Director, Guaranty Trust Bank Nigeria.
The initiative, which took effect on Tuesday, February 11, 2025, ensures that all qualifying merchants no longer incur Merchant Service Charges (MSC) when receiving customer payments via GTBank’s POS terminals.