CBN to Sanction Erring PoS Operators

• The apex bank pegged the maximum total fee that should be sharged for any Point of Sale (PoS) transaction at 1.25% of the transaction value for a maximum of N2000
• According to the circular, fees charged at PoS terminal transaction shall be distributed thus later:
  
  • Issuer - 30%
  • Acquirer - 32.5%
  • Payment Terminal Owner - 25%
  • Local Switch - 5%
  • Payment Service Aggregator - 7.5%