GTBank waives processing fees on POS terminals to boost merchant adoption
- GTBank waives processing fees on POS transactions for businesses.
- The initiative took effect on February 11, 2025.
- Merchants will no longer incur Merchant Service Charges (MSC) when using GTBank's POS terminals.
While GTBank's decision to eliminate processing fees is commendable and could significantly benefit merchants, it raises questions about the long-term viability of such a strategy in a competitive market dominated by fintech firms. Traditional banks must carefully consider their financial models and regulatory obligations when adopting aggressive pricing strategies.
