PayCentre Aligns With CBN on PoS Charges, Disregards AMMBAN Notification

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An innovative agent banking solution, PayCentre, has aligned with the Central Bank of Nigeria (CBN) on the recent decision for the new price for PoS transactions in Lagos State.

BrandsNews reports that PayCentre in a publication wrote to formally dissociate self from the notice shared by the Association of Mobile Money and Bank Agents in Nigeria (AMMBAN) as it does not align with the guidelines provided by the CBN.

It will interest you to note that the Lagos chapter of AMMBAN has announced a new price list for PoS transactions in the state mandating that N100 will be charged for an amount between N1000 – N2,400; N200 for N3,500 to N4,000; and N300 for N4,100 to N6,400 respectively.

In an interview on Channels Television on Friday, Stephen Adeoye, the spokesperson of the association, said the measure was put in place to deter fraud and curtail “agents who still overcharge.”

Adeoye further clarified that for deposits and transfers, agents can now charge N100 for N1,000 to N4,900; N200 for N5000 to N10,900; N300 for N11,000 to N20,900; N400 for N21,000 to N30,900; N500 for N31,000 to N40,000; and N600 for N41,100 to N50,000.

In the notice, PayCentre requested all their agents to remain compliant with the guidelines and regulations of the apex bank, CBN.

See below the full details from PayCentre:

PayCentre notice on new PoS Charges
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