GTBank Removes POS Processing Fees To Support Businesses

In an unprecedented move to support businesses, Guaranty Trust Bank Ltd has announced the removal of processing fees on all GTBank POS terminals, reinforcing its commitment to supporting businesses with cost-effective payment solutions.

The initiative was announced in a statement sighted by www.theoctopusnews.com on Wednesday.

According to the bank, the initiative which took effect Tuesday, 11 February 2025, communicates that merchants using GTBank POS terminals will no longer incur Merchant Service Charges (MSC) when receiving payments from customers.

With this development, 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.

Commenting on the initiative, Miriam Olusanya, Managing Director, Guaranty Trust Bank Nigeria, said: “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.”

GTBank noted that the Zero Processing Charge campaign aligns with it’s ongoing efforts to empower businesses with innovative financial solutions that drive growth and efficiency.