Thursday , February 6 2025

Tag Archives: USSD

CBN Reacts to USSD Disconnection over N120 Billion Debt

CBN Reacts to USSD Disconnection over N120 Billion Debt

The Central Bank of Nigeria, CBN has said that the current dispute between banks and Telcos over non-payment of accumulated Unstructured Supplementary Service Data, USSD debt is due to technical issues regarding the definition of a successful transaction from their perspective. This disclosure contained in a statement issued by the …

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Quickteller Business Unveils Smart PoS for African Businesses

Quickteller Business Unveils Smart PoS for African Businesses

Africa’s leading payment platform, Quickteller Business, powered by Interswitch, has introduced Smart Point of Sales (POS) terminals, which will enable Small and Medium Business Enterprises (SMEs) and merchants in Africa to accept payments seamlessly and better manage their transactions. The Smart PoS device is powered by Android Operating System and …

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Mobile Financial Transactions Rises by 4000% in Five Years, Hit N8.07 Trillion

Mobile Financial Transactions Rises by 4000% in Five Years, Hit N8.07 Trillion

Mobile transactions in Nigeria have jumped by 4,009.58 per cent to hit N8.07tn within a five-year period as the number of telecommunication subscribers rises by 34.91 percent to 195,128,265. This is according to data from the Nigeria Interbank Settlement System and Nigerian Communications Commission. According to mobile inter-scheme transaction data …

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Banks Bar MTN Subscribers Access to USSD Banking Channels

Banks Bar MTN Subscribers Access to USSD Banking Channels

Nigerian Banks has disconnected MTN Subscribers from accessing their Unstructured Supplementary Service Data (USSD) and apps banking services as both sectors continue their feud over Commission rate. MTN customers complained on Friday about being unable to recharge their MTN lines using USSD and other banking channels like the bank apps. According …

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Banks Battle MTN Over Vending Commission Reduction

Banks Battle MTN Over Vending Commission Reduction

Acting on directives from its South African parent company, MTN Nigeria has made an ill-conceived play at monopolising the Nigerian Telecommunications industry. This ploy was made clear on March 30 2021 when the service provider facilitated a meeting with aggregators and announced a 37.5%  reduction in its vending commission without prior …

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Banks Agree on Installmental Payment of N42bn USSD Debt

Nigerian banks (Financial Service Providers) have agreed to stagger the payment of N42 billion being accrued debt owed Nigerian mobile network operators for the use of Unstructured Supplementary Service Data (USSD) short code service. The banks together with the mobile operators had ended a marathon meeting last night with the …

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