POS Operators hike charges amid economic woes

Point of Sale (POS) operators in Osun State have announced an upward review of their charges for transactions, citing the current economic challenges in the country as the reason.

The Association of Mobile Money and Bank Agents in Nigeria (AMMBAN), Osun State Chapter, made this known in a statement on Saturday after its general meeting in Osogbo.

According to the statement signed by the State Chairman, Badru Asimiyu and the State Secretary, Gbadebo Lukman, POS operators are facing numerous problems that are affecting their business and livelihood.

Some of these problems include rising inflation, high transport and overhead costs, limited funding sources, increased rents, staff salary demands, expensive POS paper and data subscriptions, security costs, multiple taxation and levies, loss of funds through licensed operators’ channels, fraud and robbery attacks.

The statement further stated that despite these challenges, POS business remains the largest SME sector that provides employment opportunities for many youths in the country.

However, it warned that if the situation is not addressed, many POS agents may be forced out of business, leading to a surge in unemployment and insecurity.

The association therefore directed its members to adjust their service fees in a patriotic manner as agreed at the meeting to ensure that both the agents and the customers can cope with the economic realities. The new charges are as follows: N1000-N3900 =N100, N4000-N5900= N150, N6000-N7900=N200, N8000-N10000=N250.

The statement also urged all its zones to ensure that POS operators comply with the agreed convenience fees for transactions and respect the peculiarities of each zone in a patriotic manner.

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