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USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms - Phones - Nairaland

Nairaland Forum / Science/Technology / Phones / USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms (40665 Views)

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USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms by valentineuwakwe(m): 4:18am On Apr 04
MTN customers in Nigeria now have alternative electronic payment platforms to recharge their phones as the mobile network operator on Saturday announced that customers can recharge airtime through payment solutions platforms such as Flutterwave, Jumia Pay, OPay, Kuda, Carbon and BillsnPay for customers to recharge virtually.

MTN in a statement on Saturday by its Senior Manager, External Relations, Funso Aina, also said customers could recharge airtime by dialing *904# and *606#.

This is coming barely 24 hours after commercial banks on Friday disconnected MTN customers from banking channels including the Unstructured Supplementary Service Data and banking apps, leaving millions of MTN subscribers frustrated as they were unable to recharge airtime via USSD amid the Easter celebrations.

MTN, with about 77 million subscribers, making up about 45 per cent of the total telecommunication market share in Nigeria, is arguably the largest telecommunication operator in the country.

The PUNCH had earlier reported that the telco had reduced the banks’ commission from an average of 3.5 per cent to 2.5 per cent which predicated the actions of the banks.
The banks had written MTN to revert to the old commission, otherwise, they would block MTN airtime in all their channels.

The banks, except Zenith Bank which was connected directly to MTN, subsequently blocked MTN from their banking channels, leaving customers stranded as they were unable to recharge virtually.

Minister of Communications and Digital Economy, Isa Pantami, had said the matter would be resolved. “We have reached an advance stage of resolving the issues, for the services to be restored to our citizens,” he had said.

But in the statement on Saturday, MTN said, “It will interest you to note that for the benefit of our customers who have been greatly inconvenienced by the service suspension, we now have alternative channels of accessing MTN services electronically.

Speaking exclusively with Sunday PUNCH, a source in the industry said the most important factor is that MTN was able to quickly come up with alternatives through fintech companies.
“There are so many possibilities through fintech. It is about being responsive and flexible to alternatives for customers to enjoy MTN services as they have been enjoying before the disconnection by the banks. It is about being solution-focused,” the source said.

Asked whether MTN might have used the fintech platforms as alternatives before the disconnection, the source, who craved anonymity, said the development was totally new and spontaneous.

The source could not, however, give an update on the discussion the minister started with the Central Bank of Nigeria and the Nigerian Communication Commission to broker peace between the banks and MTN.

But the source stressed that even after the issue becomes resolved, it would be wise for MTN not to put its eggs in a basket. The source said it would be wise for MTN not to abandon the fintech companies because “if it happens today, who says it will not happen tomorrow?

https://punchng.com/ussd-war-mtn-snubs-banks-links-77-million-subscribers-to-fintech-platforms/

8 Likes 1 Share

Re: USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms by bsalawu: 4:46am On Apr 04
Na wa ooo.... when 2 giant fights.


Anyways Na una problem!

13 Likes

Re: USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms by MASTAkiLLAh(m): 5:25am On Apr 04
Good one from MTN, the greedy banks can go suck a rhino's díck cool

150 Likes 12 Shares

Re: USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms by EmptyGarden(m): 5:30am On Apr 04
On this matter, I stand with the Banks. MTN useless!

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Re: USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms by bcomputer101: 5:32am On Apr 04
MTN will loose this fight.




Let dem continue with their initial gragra.
Most Nigerians knows little or nothing about Flutterwave, Jumia Pay, OPay, Kuda, Carbon and BillsnPay.

I stand with banks on this.

120 Likes 2 Shares

Re: USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms by Babalawoniger: 5:34am On Apr 04
Two useless thieves fighting for their pocket.

107 Likes 6 Shares

Re: USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms by Alejoas(f): 5:37am On Apr 04
Let us see who blinks first! Fintech are waiting to pounce on any shortcoming of the banks. Customer is king and i expect mtn to have the upper hand because there are alternatives to the bank but difficult to move to other network. I have ten to twenty fours hours external battery for laptop for sale. You will be impressed!.

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Re: USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms by jakD: 5:38am On Apr 04
MASTAkiLLAh:
Good one from MTN, the greedy banks can go suck a rhino's díck cool




While I do not know the origin of their feud, I still believe MTN is at fault. Have you wondered why only MTN has problem with every bank? not even just with a bank.

119 Likes 3 Shares

Re: USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms by Nobody: 5:41am On Apr 04
This is of course an opportunity for other platforms to shine, especially the indigenous ones, I spot flutterwave.

Imagine you develop an online payment system which is then adopted by mtn giving you and your team 2.5% of every recharge made through your app, that percentage looks small but volume matters.

183 Likes 10 Shares

Re: USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms by Nobody: 5:43am On Apr 04
jakD:





While I do not know the origin of their feud, I still believe MTN is at fault. Have you wondered why only MTN has problem with every bank? not even just with a bank.

It is reported that they reduce the commission they give to those banks from 3.5% to 2.5%, that is the course of the problem, nothing hidden anywhere.

55 Likes 2 Shares

Re: USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms by jakD: 5:51am On Apr 04
donproject:


It is reported that they reduce the commission they give to those banks from 3.5% to 2.5%, that is the course of the problem, nothing hidden anywhere.


Okay. Thanks for the insight. I don't even like any of them. The banks are indispensable thieves that you just can't do without. MTN equally is a respected unrepentant thief.

71 Likes 1 Share

Re: USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms by adioolayi(m): 6:02am On Apr 04
Wahala dey.....They will still lose millions of transactions.

How many people are on those platforms or are ready to download the apps

USSD links with Bank Account is the most common and very easy to use for Nigerians.


Anyways, it's trade war, let's see who wins.


MTN giving Nigerian subscribers opportunity to reactive , recharge their abandoned alternative (Glo, Airtel, 9mobile) lines

18 Likes 1 Share

Re: USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms by lessonotes(f): 6:02am On Apr 04
A very very wealthy and powerful expatriate company, I think I support MTN on this one. The banks are too greedy, after the massive returns they're making after investing the massive cash base in they custody, they charge so many exorbitant charges on the same customers, really not fair.

The source could not, however, give an update on the discussion the minister started with the Central Bank of Nigeria and the Nigerian Communication Commission to broker peace between the banks and MTN.

Nonsense, what is there to broker; Minister of digital economy that is meant to be happy for Fintech companies, abi is he not meant to do anything to help the Fintech companies grow. angry

26 Likes 1 Share

Re: USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms by NaijaGoBetter20(m): 6:03am On Apr 04
Don't even know what to say about this MTN...Always on news with cashless policy do you think someone can carry 5k (cash) to recharge data?

5 Likes 2 Shares

Re: USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms by hepevax: 6:03am On Apr 04
These guys are biting more than they can chew.
Re: USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms by Fxwarrior: 6:04am On Apr 04
shocked

What of those whose transactions are still hanging during the fight.

How will it be resolved? I am talking of money unaccounted for.

2 Likes 1 Share

Re: USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms by Nobody: 6:04am On Apr 04
Dilemma
Re: USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms by Cti28(m): 6:05am On Apr 04
Babalawoniger:
Two useless thieves fighting for their pocket.
Very useless. One has cheated the other while sharing their loot; hence the war.

9 Likes 1 Share

Re: USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms by HenryThegreat1(m): 6:07am On Apr 04
Criminals banks.
Nigeria commercial banks are worst than Nigeria politicians.

5 Likes 2 Shares

Re: USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms by phransix2: 6:07am On Apr 04
I had to go back to my Opay for transfers and airtime.

3 Likes 2 Shares

Re: USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms by LagBlogger(m): 6:09am On Apr 04
Banks will lose while fintechs will grow rapidly

12 Likes 2 Shares

Re: USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms by Handsnigga: 6:09am On Apr 04
MTN mad ooo...they no send them cheesy

3 Likes

Re: USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms by chicoMX(m): 6:09am On Apr 04
.
Re: USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms by lessonotes(f): 6:10am On Apr 04
elody:
Mtn why not settle with the banks and move on smoothly.

The Banks are cashing out massively already Sir, besides the USSD Framework runs on the Telcos Infrastructure.

8 Likes 1 Share

Re: USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms by SanctifiedSista(f): 6:10am On Apr 04
I pray this JESUS CHRIST resurrect the brains of these organisation and help them settle amicably



Happy Easter, congratulations to everyone

2 Likes 2 Shares

Re: USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms by Ikillbrokehoes(m): 6:10am On Apr 04
That's there problem
Re: USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms by PrimadonnaO(f): 6:11am On Apr 04
Time for JumiaPay to shine.

I'm finally going to respond to their many unsolicited mails asking me to recharge via their platform.

4 Likes 1 Share

Re: USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms by Twoclans(f): 6:14am On Apr 04
The error message that pops up when you try to do a USSD transaction is what makes me laugh.

The banks kuku wrote service is temporary unavailable please contact your telecom provider.

26 Likes 2 Shares

Re: USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms by 4ckyou: 6:14am On Apr 04
Handsnigga:
MTN mad ooo...they no send them cheesy

They were making millions before the bank transfer so they won't really care, both of them will lose but the banks will lose more because almost all household have mtn line.

11 Likes 1 Share

Re: USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms by spice123(m): 6:14am On Apr 04
valentineuwakwe:


https://punchng.com/ussd-war-mtn-snubs-banks-links-77-million-subscribers-to-fintech-platforms/
When I tell people about visions of companies. MTN..... The best connection!
Re: USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms by nextstep(m): 6:15am On Apr 04
Of course this is a nice move... the banks need to have competition.
On the other hand, guess what's going to happen when you need to put Naira into a fintech account, or take it out. wink

4 Likes 2 Shares

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