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Nairaland Forum / Science/Technology / Phones / USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms (45714 Views)
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Re: USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms by edoairways: 11:34am On Apr 04, 2021 |
rajiedreez:I agree with you on this. Are you a banker if I may ask |
Re: USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms by AK481(m): 11:58am On Apr 04, 2021 |
PrimadonnaO: Where will opay see the money they want to use to exchange credit ? Will I credit my opay account? |
Re: USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms by ranktzy(m): 12:06pm On Apr 04, 2021 |
spacechuks: I stopped recharging using my bank app for over a year cause of the SMS charges I get. I recharge using other platforms that offer data & airtime recharge. I just top up my wallet using either bank transfer or payment gateway & I can get airtime at a lower rate unlike the bank app that sells at the exact value. 1 Like |
Re: USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms by einsteine(m): 12:13pm On Apr 04, 2021 |
Fintechs would eventually eat the lunch of the so called DMBs |
Re: USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms by pmc01(m): 12:17pm On Apr 04, 2021 |
[quote author=Alejoas post=100470817][/quote] It's not that mobile, is it? |
Re: USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms by Eteka1(m): 12:22pm On Apr 04, 2021 |
The banks hold the aces here. They should simply impose sanctions on any Fintech doing business with MTN i.e disable their customers from crediting or withdrawing from their Fintech wallets. |
Re: USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms by grandstar(m): 12:23pm On Apr 04, 2021 |
I hope MTN won't regret this. The ease of simply tying *737*amount# is why I love online banking through banks. If it takes a longer process than, it may discourage many. 2 Likes 1 Share |
Re: USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms by Dechief: 12:29pm On Apr 04, 2021 |
Alejoas:How much and where's your location |
Re: USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms by Nodogragra4me(m): 12:33pm On Apr 04, 2021 |
MASTAkiLLAh: I have recharged my glo twice when mtn didnt go through. Won't inconvenience myself with any so called fintech for their bnefit |
Re: USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms by Abuleoshi: 12:37pm On Apr 04, 2021 |
DelTel:It is either you don't live in Nigeria or you are a financial illiterate not to understand cost of doing business in Nigeria has sky rocketed in the last one year, that businesses are looking inwards to cut cost and remain profitable. Same period last year, dollar was N360, dollar is N485 today. Businesses are increasing price of products and services, Coca-Cola just increased the price of soft drinks to N120, fast food outlets increased prices of snacks, Hotels have increased prices of their room rate. Telecos on the other hand can't increase Tariff like other businesses because NCC is regulating prices in the Telecoms sector. If Telecos can't increase prices, they need to look inwards to cut cost and remain profitable. Hence the sales discount reduction, this will go along way to improve MTN's balance sheet. You might ask is it only MTN that is affected by the harsh business environment in Nigeria that they are reducing sales discount? The bigger the head, the bigger the problem. MTN is the market leader, so naturally they will lead and others will follow. If MTN is able to resist the banks, watch out for other Telecos to also reduce sales discount. 5 Likes |
Re: USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms by Holak: 12:40pm On Apr 04, 2021 |
Oyiboman69: Of course, no Fintechs without Banks. |
Re: USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms by Basher8583: 12:43pm On Apr 04, 2021 |
jakD: Even when it comes to mobile fraud via SIM Swap, MTN is the most notorious network. |
Re: USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms by Alejoas(m): 12:49pm On Apr 04, 2021 |
pmc01: This is small enough to fit into your laptop bags, light weight too
|
Re: USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms by Hisduchess(f): 12:52pm On Apr 04, 2021 |
valentineuwakwe: Goodnews jareh! So that plenty people will be patronizing my vtu business 1 Like |
Re: USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms by Alejoas(m): 12:53pm On Apr 04, 2021 |
Dechief: We have 2 sizes available, fifty thousand and seventy five thousand respectively for ten hours plus and eighteen hours plus capacities, I dey Akure, 080653.16307 |
Re: USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms by MASTAkiLLAh(m): 12:54pm On Apr 04, 2021 |
Nodogragra4me:good for you, just know that this particular battle involves all the telcos. Banks are only using MTN as scapegoat. Where is the 42 billion naira banks collected on behalf of telcos via USSD charges and why are banks insisting telco customers pay an additional 6+ naira on top regular charges without paying off that initial debt ? I know MTN are a greedy bunch but this battle is for your own benefit. The regulators and everyone else is siding the banks because of kickbacks meanwhile, Nigerians are being ripped off relentlessly. Where is the 42 billion banks took from customers ? 2 Likes |
Re: USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms by MASTAkiLLAh(m): 12:56pm On Apr 04, 2021 |
Abuleoshi:two bottles of Heineken for you sire 2 Likes |
Re: USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms by CharlesPhc: 12:59pm On Apr 04, 2021 |
I think indigenous Nigerian entrepreneurs should begin to see opportunities at times like this. I've been recharging and doing all my financial transactions thru Carbon App for a long time now and feel comfortable keeping my money with Carbon rather than First Bank or any other Commercial bank. Carbon has account number where customers can pay cash directly into Carbon account and recharge airtime free of charge. |
Re: USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms by Handsnigga: 1:04pm On Apr 04, 2021 |
4ckyou:Very true |
Re: USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms by mmsen: 1:09pm On Apr 04, 2021 |
bcomputer101: Well it's about time that they learn, they are far more convenient than that archaic USSD nonsense. |
Re: USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms by mmsen: 1:10pm On Apr 04, 2021 |
Eteka1: Impose sanctions for what? Being unable to extort MTN the way that they do Nigerians? |
Re: USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms by DelTel(m): 1:12pm On Apr 04, 2021 |
Abuleoshi: So a behemoth company making billions in profit from Nigerians should muzzle and kill SMEs out of life/business? (I stated earlier I don't care about the banks). Of course, your financial literacy school did not teach you SMEs are the bedrock of any nation's economy. I see you claim to be financial literate but does not know MTN Nigeria is not only profitable (with revenues risen to over N100 billion monthly in 2020 with half-year revenues of N638 billion in 2020 as the MTN Nigeria made a 49% growth in data revenues in the second quarter of 2020) but also unaffected by covid19 lockdown as its Nigerian customers guzzled more data in the ensuing Covid19 and EndSars economic shutdown. I will not even go to the dollars repatriation brouhaha (still ongoing if you care to know). Have you also compared calls and data rates across the market MTN operates in Africa and find out which country pays the highest and most profitable. To your first question, I live and run a business in Nigeria and with thought-process like yours, then no hope for the common man (woe betides common man if someone like you gets to position of authority someday). Happy Easter. 4 Likes |
Re: USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms by Nobody: 1:21pm On Apr 04, 2021 |
I just bought 2k airtime from the bank through my mtn line and I was debited without the money entering my Mtn account. what is going on |
Re: USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms by Abuleoshi: 1:24pm On Apr 04, 2021 |
DelTel:In all the revenue figures you are quoting, What is MTN Nigeria's EBITDA margin? Why are you looking at revenue only? What is MTN's EBITDA Margin compared to its closest rival Airtel? Compare the EBITDA and maybe you will understand why MTN Nigeria is looking for where to cut cost and improve efficiency! |
Re: USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms by bukatyne(f): 1:28pm On Apr 04, 2021 |
rajiedreez: I don't understand the support for MTN. |
Re: USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms by Tapout(m): 1:28pm On Apr 04, 2021 |
airsaylongcome: Oga interswitch was founded in 2002. |
Re: USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms by Nobody: 1:41pm On Apr 04, 2021 |
OfeAkwuPrincess: I am not supporting MTN whatsoever, just saying one man's loss is another man's gain. I see what will happen to the fintechs that now agree to take the 2.5%, more gain for them. The likes of Kuda and flutterwave will start attracting customers because of this development. I never said MTN was right, but I belief that these banks can still do with that meagre 2.5%, their income is not principally coming from that token they get from MTN, they have chain of sources where they get money. I remember what happened to the author of the renowed "The Last Day at Forcados" that was chosen by JAMB for candidates. Everything was going fine between the author and the publisher until the author one day felt that the N100 that was being paid to him per copy sold wasn't enough. The publisher had to present another book for JAMB to complete the three years deal between them. |
Re: USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms by Nobody: 1:43pm On Apr 04, 2021 |
Sagay212: That is exactly my assertion, when the volume is high, token becomes something huge. |
Re: USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms by Myself2(m): 1:45pm On Apr 04, 2021 |
Babalawoniger: Exactly |
Re: USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms by DelTel(m): 1:55pm On Apr 04, 2021 |
Abuleoshi: I am flabbergasted to say the least. Is it not revenue that ultimately leads to profit for an efficient organisation; or are the figures I mentioned wrong? . Jokes apart, what is the concern of SMEs when a market leader can not play and run its business according to the law of the land they operate making MTN EBITDA bad compared to competitors. So SMEs should be punished for MTN's inefficiency and fines (and bribery)! A company has responsibilities to different segments, be it, staffers, shareholders, suppliers, society, government; including SMEs especially for a big corporate like MTN or SMEs did not aid their expansion and penetration. |
Re: USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms by Nodogragra4me(m): 1:56pm On Apr 04, 2021 |
MASTAkiLLAh: As long as glo and Airtel is going through mtn will soon come to their senses that they are just the number one of the three choices most Nigerians carry around . |
Re: USSD: MTN Snubs Banks, Links 77 Million Subscribers To FINTECH Platforms by Myself2(m): 1:58pm On Apr 04, 2021 |
AK481: Hmmm, good question cos the money is with the banks |
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