LBroadcasts reports that leading fintech companies PalmPay and OPay have implemented a 50% increase in SMS transaction alert fees starting June 1, 2025. The new rate of ₦6 per SMS replaces the previous ₦4 charge, a change attributed to rising telecom operator tariffs.
The fee adjustment is impacting Point-of-Sale (PoS) operators across Nigeria, who rely on these SMS notifications for customer transactions. Many operators indicate they may need to raise service charges to compensate for the increased operational costs.
This development follows another recent financial adjustment affecting PoS operators - the introduction of the ₦50 Electronic Money Transfer Levy (EMTL) on every ₦10,000 transaction earlier this year.
LBroadcasts will continue monitoring this situation and provide updates on further developments in the fintech sector.
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