MTN Might Not Allow USSD For Some Banks Again (Read Details)

Skeli B
Written by Skeli B

There were strong indications last night time that a few industrial banks may also have yanked off their USSD, airtime buy, and other online services from MTN community because of the confrontation among the financial institutions and the telecommunication organization on the quantity to be charged.

THISDAY accrued that the financial institution Chief Executive Officers had at a latest assembly agreed to close down the purchase of MTN services throughout all their channels starting from eleven pm remaining night time till in addition notice.

Attempt by THISDAY to buy airtime from GTBank remaining night time confirmed that the industrial bank had eliminated MTN most of the community its clients may want to buy airtime from.

However, Fidelity Bank became nevertheless imparting the carrier as of midnight.

A supply near the banks defined that the confrontation arose after MTN currently decreased the bargain provided to banks on airtime income from 4 in line with cent to 2.five in line with cent, which did now no longer cross down properly with banks thinking about the value of dealing with the infrastructure and different operational fees they incurred.

A pinnacle financial institution official, who pleaded to stay anonymous, stated different banks are predicted to conform with the selection in their CEOs from today.

He disclosed that over 60 in line with cent of airtime vending by telcos presently were done electronically via the banks.

The CBN and the NCC, had in a latest communique issued at the stop of a assembly to remedy the disagreement on USSD price among the banks and telcos agree that with impact from March 16, 2021, USSD services for economic transactions performed at banks and all CBN- licensed institutions could be a flat charge of N6.98k per transaction.

This replaced the previous per session billing structure, making sure a miles cheaper average price for customers to ensure financial inclusion.

“To promote transparency, the new USSD charges will be collected on behalf of MNOs directly from customers’ bank accounts.

“Banks shall not impose additional charges on customers for the use of USSD channel. “A settlement plan for outstanding payments incurred for USSD services previously rendered by the MNOs is being worked out by all parties in a bid to ensure that the matter is fully resolved,” the communiqué explained.

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Skeli B

Skeli B

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