Deposit money banks are stepping up efforts to cut a slice of Nigeria’s Point of Sale (PoS) market, which fintechs have dominated in recent years.
This is as the relevance of Automated Teller Machines (ATMs) continues to dwindle, with PoS terminals becoming the go-to channel for financial transactions.
In February, GTB removed processing fees on all its GTBank PoS terminals in a bid to woo small businesses.
Miriam Olusanya, managing director, Guaranty Trust Bank Nigeria, said, “By implementing the zero processing fees on POS transactio
