Point of Sale (PoS) operators have explained why their transaction fees have been raised.
Stephen Adeoye, Public Relations Officer of the Lagos Chapter of the Association of Mobile Money and Banks Agents in Nigeria, AMMBAN, revealed this during an interview on Channels Television on Friday.
Recall that the Operators recently announced a pricing rise and fee unification.
As a result, a deposit of N1,000 or N4,900 with a PoS Operator will now incur a service charge of N100; on the other hand, a withdrawal of N1,000 or N2,400 will incur a service charge of N100, as opposed to a N100 service charge for N1000-N5000 in the past.
Adeoye justified the raise by stating that it was necessary owing to rising data, gasoline, and maintenance costs.
“As previously stated, depending on your location, it can be lowered for customers depending on the circumstances.”
“We can still change because we are humans, but not if someone insists on a specific rate.” We also want to avoid those who are causing the issue; consider the costs of data, fuel, and maintenance. Our group also has an anti-money laundering policy; he claimed that “we are ready to sanitize the market in order for it to live up to its purpose.”
Withdrawal and deposit fees in Abuja have remained unchanged. For example, the service charge for a N1000-N5000 withdrawal is N100, the same as for a deposit.
The federal government’s decision to eliminate fuel subsidies caused an increase in the prices of products and services across the country.