Says mobile banking best for financial inclusion By Temiope Adebayo Believes internet-based mobile banking, Segun Agbaje, CEO of The GTCO Group said not USSD technology, is crucial for financial inclusion in Nigeria. He also believes telcos should lower the data subscription rates to accommodate everyone in a bid to drive adoption of mobile banking. Agbaje […]
Some bank customers on Wednesday said they would opt for alternative channels in view of the new fee of N6.98 introduced for use of Unstructured Supplementary Service Data (USSD) platform for banking transactions. Some of the customers who spoke in separate interviews with the News Agency of Nigeria (NAN) in Lagos, said that they would […]
Customers of several banks have been informed that they will be charged N6.98 for each USSD transaction. Excessive bank charges, on the other hand, may constitute a threat to financial inclusion, according to experts. According to them, it will promote cash transactions because many bank clients would avoid using the USSD for transactions, and it […]
Following the involvement of Dr. Isa Ali Pantami, the Minister of Communications and Digital Economy, the two industry regulators, the Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC), agreed yesterday to find a middle ground in their dispute. Mr. Karl Toriola, the chief executive officer of MTN Nigeria, Mr. Herbert Wigwe, the group […]
Guaranty Trust Bank plc (GTBank) has reported 32.8 per cent increase in its Unstructured Supplementary Service Data (USSD) transactions in 2019 to N3.55trillion as against N2.68trillion reported in 2018. The lender in its presentation to investors and analysts disclosed that total volume of USSD transaction in 2019 was 575.8 million, 33.4 per cent increase over […]
As part of efforts in reducing financial exclusion in the country, Carbon, a digital financial services company, has introduced a USSD service to its platform, making it easier for individuals to access financial services. This new service will allow existing Carbon customers to access instant loans and other payment solutions via USSD without requiring internet […]
Washington – The Central Bank of Nigeria (CBN) has opposed plans by MTN to charge their subscribers for Unstructured Supplementary Service Data (USSD) access to banking services from Oct. 21. This came as the minister of communications, Isa Pantami, has directed the Nigerian Communications Commission (NCC) to work with the telecommunications service providers to reduce […]
Ladesope Laasdelokun The Nigerian Communications Commission (NCC) has issued an order to all telcos to bring down their Unstructured Supplementary Service Data (USSD) services to no more than N4.89k per session. This came after the Commission issued a regulatory document titled Determination of USSD Pricing which is binding on all Mobile Network Operators (MNOs). The […]