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Merchant Services
Product & Services - Merchant Services

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Merchant Services


This is an electronic device that allows merchants to process card transactions.

With a POS, a merchant has an alternative means of receiving payments rather than the traditional method of accepting cash.


Benefits To Merchants

bullet No Cash Counting

No cash movements.

Lowers operational cost
Provides multiple alternatives.
No cash shortages - eliminates risk associated with Cash transactions.


Q. What is a POS?
A. POS means Point of Sales Terminal. It is an equipment used to capture, transmit and store credit/debit card transactions at the point of sale.
Q. How does the POS work?
A. The Cardholder swipes his card through the terminal, keys-in payment information and authorization code and payment is made by debiting the customer's account and crediting the merchant's account.
Q. Who are the parties involved in POS business?
A. Merchant: Anybody (individual/corporate) that allows electronic means of payment in return for goods and services provided. Cardholder: Anybody willing to use a card (debit/credit/prepaid) as a means of payment for goods and services.

Issuer: Financial/authorized institution that issue cards as means of payment for goods and services.

ISO: Independent Service Operators i.e. Terminal Owners. They are in-charge of deployment and maintenance of the terminals

Switch: A company that provides links between financial institutions

Q. Who needs a POS?
A. A merchant or anybody who is willing to accept electronic payments at his outlet in return for goods and services provided.
Q. Platforms on which POS works?
A. POS terminals work on Interswitch, VISA and MasterCard platforms
Q. How much will it cost to deploy POS?
A. The terminal is free but there are transactions fees to be borne by the merchant.
Q. What are the charges associated with using POS?
A. Transaction charges vary per industry and platform. The average is 1.25% per transaction, subject to a maximum of N2, 000.
Q. How long will it take to deploy POS?
A. 1 week (Locations within Lagos) and two weeks (locations outside Lagos)
For further enquiries on any of our ebusiness services, please contact:

E-Business Unit 
Information Technology Department 
Zenith Bank Plc 
Plot 84 Ajose Adeogun Street
Victoria Island, Lagos.

E-mail: zenithdirect@zenithbank.com 
Telephone: 234-01-2788000 and 2784000 {IT HelpDesk} 
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