POS OPERATORS EXPLAIN THE REVIEW AND ANNOUNCE HIGHER CHARGES.

Tunji Wusu –

The recent increase in Point of Sales (POS) transaction fees, according to the Association of Mobile Money and Bank Agents in Nigeria (AMMBAN), is a reflection of the nation’s current economic situation.

This was said on Channels Television on Friday by Stephen Adeoye, the spokesman for the AMMBAN chapter in Lagos, who also provided information about the unified price list for POS transactions.

Adeoye stated, “It is simple for me to disclose the full specifics of the growth as the image maker of the Lagos Chapter of the Association of Mobile Money and Bank Agents In Nigeria.

He explained that Nigerians must pay a service fee of N100 for transactions up to N1,000 and N2,400 and N200 for withdrawals between N2,500 and N4,000.

Withdrawals between N4,100 and N6,400 will cost you N300 in service fees, N6,500 and N7,900 will cost you N400, and N8,000 and N10,900 will cost you N500.

Adeoye stated that withdrawals between N11,001 and N14,400 will incur a service fee of N600, N14,500 and N17,900 will incur a fee of N700, and N18,000 and N20,000 will now incur a fee of N800.

According to their places and situations, people can also lower the costs, but Adeoye urged them to stay within the predetermined limits.

He stated that Nigerians must pay a service fee of N100 for deposits up to N1,000 and N4,900 and N200 for deposits between N5,000 and N10,900.

He claims that service fees will be N300 for accounts between N11,001 and N20,900 and N400 for deposits between N21,001 and N30,900.

Additionally, there will be a service fee of N500 from N31,000 to N40,000 and N600 for deposit or transfer from N40,100 to N50,000.

Adeoye stated, “However, we can still lower it because we are humanitarian, but it’s not that people will go to a particular POS and get charged less than the negotiated price.

The POS operators, who are the main cause of the industry’s problems by failing to adhere to the negotiated prices, are something that AMMBAN wants to stay away from, he added.

Look closely at the costs of upkeep, paper, and fuel so that individuals can’t just pull cash out of thin air.

“Look at our association; we have anti-laundering laws as well, so our members don’t associate with such individuals engaged in criminal activity.

Therefore, “we are prepared to meet the needs of our clients, and our representatives truly live for business purposes.”