The existing economic realities in the country, AMMBAN said, has had a negative influence on the company.
Another repercussion that has emerged from this study is that numerous POS agents have been shown the door.
The group made the announcement in a statement following a meeting on Saturday in Osogbo, and it warned that if the current trend continues unchecked, it could significantly increase the unemployment rate and pose a serious threat to people’s safety.
In a statement signed by Badru Asimiyu, the state chairman, and Gbadebo Lukman, the state secretary, the association expressed its disappointment in the current climate for POS Operators in Nigeria.
Inflation, rent increases, salary demands from employees, the cost of data subscriptions and security measures, as well as multiple taxes and levies, money lost through licensed operators’ channels, fraud, and robbery attacks, are just some of the issues our members are facing.
Agency banking, commonly known as the point-of-sale (POS) industry, is the largest small and medium-sized enterprise (SME) sector in the country and the largest employer of labor.
Due to the galloping inflation and naira floating roaming all and everyone, we now direct POS Operators in Osun State to modify the service prices in a patriotic manner as jointly agreed at the meeting.
From now on, N1000–N3900 will cost N100, N4000-N5900 will cost N150, N6000–N7900 will cost N200, and N8000–N10000 will cost N250.
We have instructed all of our time zones to monitor point-of-sale (POS) operators to make sure they are charging appropriate transaction fees and according to regional preferences.