Guaranty Trust Bank Limited has removed processing fees on all its Point of Sale (POS) terminals to support businesses with cost-effective payment solutions.
The bank said following the initiative which took effect on February 11, merchants using GTBank POS terminals will no longer incur Merchant Service Charges (MSC) when receiving payments from customers.
It said the Zero Processing Charge campaign aligns with GTBank’s ongoing efforts to empower businesses with innovative financial solutions that drive growth and efficiency.
It said with the 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, Managing Director of GT Bank, Miriam Olusanya, said the bank is always on the lookout 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,” she stated.
