Zero Processing Fee; GTBank Removes POS Processing Fees 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.

This 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 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, 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.”

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

For more information, merchants are encouraged to contact their Relationship Managers or reach out to the Digital Banking Support Team at [email protected].

About GTBank

Guaranty Trust Bank (GTBank) is a leading financial institution committed to delivering innovative banking solutions that empower businesses and individuals. With a strong focus on technology and customer satisfaction, GTBank continues to redefine the banking experience across Africa and beyond.