People who use Point-of-Sale (POS) agents for cash withdrawals in Nigeria can brace for yet another price hike with the Central Bank of Nigeria’s (CBN) latest increase in Automated Teller Machine (ATM) withdrawal fees.
POS operators who spoke to Techpoint Africa said they must raise their charges to cover additional costs.
Adijat, a POS agent in Abeokuta, believes that while the convenience of using POS terminals will keep customers coming, the ATM withdrawal fees and the electronic money transfer levy will inevitably increase withdrawal fees.