GTCO's HabariPay Targets 200,000 PoS Terminals in Fintech Push

Banks Move Onto Fintech Turf

The expansion comes at a time when Nigeria's largest banks are increasingly building out merchant infrastructure that was previously dominated by fintech companies such as Moniepoint, OPay, and PalmPay. According to TechCabal, these fintechs used their PoS networks as tools for both payments processing and customer acquisition.

Traditional lenders now appear to be following a similar playbook, channeling investment into merchant businesses through their fintech subsidiaries in an effort to capture a larger portion of merchant payment flows.

Targets for 2026

GTCO has set specific goals for the coming year. The company aims to increase the value of transactions processed through its terminals tenfold in 2026. Its merchant acquisition strategy targets ₦1 trillion (approximately $729.83 million) in monthly total payment value.

GTCO said this would be achieved by deepening its reach among SMEs, corporates, and fintech platforms, according to the annual report referenced by TechCabal.

The strategy underscores how the boundaries between banking and fintech continue to blur in one of Africa's largest economies, with incumbents leveraging their scale to compete directly in segments where digital-first firms established early leads. Whether GTCO can meet its ambitious deployment and transaction targets will likely depend on how effectively it can attract merchants in a crowded and fast-moving market.