stmYou’ve probably heard about the new POS machines GTBank has been rolling out. You may even have seen one in use. But what are they, exactly? How do they work? And how much do they cost?
In this article, we’ll answer all your questions about GTBank’s POS machines. We’ll also give you a breakdown of the daily target, charges, and commission for each machine.
Benefits of Using GTBank POS Machine
Local debit cardholders can pay for goods and services in a retail setting using a Point of Sale (POS) terminal.
GTBank’s point-of-sale terminal offers a practical, contemporary, and effective way to process payments online and in real-time because the value is deposited to the merchant’s account within 24 hours.
The following are some benefits of the PoS terminal for merchants:
- Efficiency gains reduce cash handling and facilitate reconciliation.
- Sales increase as a result of the merchant’s availability to customers who pay with cash and credit cards.
- Instant payment for product confirmation.
- Lowers the cost of equipment and personnel for managing cash receipts.
- Reduces the risk of loss from employee theft or armed robbery.
- Removes the annoyance of the clearing and confirmation periods for checks.
Charges and Commission of GTBank POS Machines
When it comes to operating GTBank POS Machines, the charges and commission you pay are one of the most important considerations. GTBank typically charges a transaction fee of 0.75% and a commission fee based on the volume of sales.
If you’re a merchant or retailer who plans to use the machines frequently, it’s worth looking into their loyalty program which offers discounts on your POS machine fees as you do more business.
You should also be aware that there is a daily target of N50,000 (fifty thousand naira) that must be met in order for merchants to receive their payout from the bank.
This means that you must have enough cash flow to hit this minimum daily goal if you wish to benefit from using the machine.
Overall, GTBank provides some of the most competitive POS machine prices in Nigeria without sacrificing quality and security.
With their dependable customer service and daily targets that are achievable even for small businesses, this is an attractive option for anyone looking for a reliable way to accept payments.
GTBank POS Machine Price in Nigeria
Getting a GTBank POS Machine in Nigeria is easy and straightforward. All you have to do is go online or walk into any GTBank branch and fill out the form to apply for the machine.
Once your application is approved, you will be asked to pay the registration fee, which is currently NGN 25,000 ($54.44).
Once your payment is processed, the bank will send a representative to your business location so they can set up the machine and give you training on how to use it.
It’s important that you understand how the machine works before using it so that you can offer a smooth payment experience for your customers.
Finally, once your machine has been set up, you will need to meet certain daily transaction targets to be eligible for commission payments from GTBank.
These targets are usually based on your daily sales and should be discussed with your bank representative when applying for a POS Machine.
Conclusion
So there you have it on GTBank POS Machine price in Nigeria, daily target, commission, and other charges. You can get the POS machine for yourself and start enjoying its benefits.
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