IntegrityFarmsN:
This is the beauty of open competitive market business: monopolistic exploitations are avoided and better options come up.

MTN was cut off by the banks and MTN started using fintech companies in Nigeria as ALTERNATIVES.

Then the banks rushed to lift the ban on MTN to avoid losing big business from MTN!!!

You didn't read the article. it was cbn intervention.

capitalzero:


Count me out. I used fintech to recharge my mtn.

77 million minus 1 person equals 76 million 9 9999999

for the past 48 hrs

or

are you the one that will pay the #6 per transaction for the remaining 70 million plus...

capitalzero:


It is matter of time. Most people who use ussd or mobile bank app can also use fintech. I use fintech to recharge over weekend. Banks are very greedy. # 2.5 is ok for #100. Banks are insisting on #4.5. Mind you banks will still charge customers #4 for alerts.

And you think MTN is not greedy? Why do you have to choose one greedy company over another? Why did mtn choose to reduce it in the first place? I'm not supporting any side because they are both greedy

loswhite:
And you think MTN is not greedy? Why do you have to choose one greedy company over another? Why did mtn choose to reduce it in the first place? I'm not supporting any side because they are both greedy

I agree but banks are worse. Banks are owning telecoms #42B over years .

baralatie:

77 million minus 1 person equals 76 million 9 9999999

for the past 48 hrs

or

are you the one that will pay the #6 per transaction for the remaining 70 million plus...

In customer care service, 1 person means alot. Banks should remit #42b they are owning to telecoms.

capitalzero:


In customer care service, 1 person means alot. Banks should remit #42b they are owning to telecoms.

In monetary economics for an entity to survive in a business climate it is either you are making profit or loss.for mtn to run loss because of 1 person is loss!
make mtn and banks return all my money owed me through overpriced deductions

DonHummer:
Those banks do meeting untop MTN head, they know how much MTN is making from ussd recharges, and yet MTN wants to pay less. Truth be told if banks should stop MTN from recharging through USSD, MTN will lose alot because people do over spend on airtime since it became very convenient to recharge through USSD.

Those of you supporting the banks, are you guys doing so because of sentiments or what exactly? Few days ago, this same news outlet published a report that banks are owing telcos over #42billion naira. I think that's why mtn reduced their commission so that they can recover their own money, so what's the fuss about? You want the banks to continue enjoying with their crook ways while mtn sit and watch because they're not indigenously owned?

I've come to realise that the average Nigerian is illogical and sentimental/emotional in his/her judgements. Sighs

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Plead:


Those of you supporting the banks, are you guys doing so because of sentiments or what exactly? Few days ago, this same news outlet published a report that banks are owing telcos over #42billion naira. I think that's why mtn reduced their commission so that they can recover their own money, so what's the fuss about? You want the banks to continue enjoying with their crook ways while mtn sit and watch because they're not indigenously owned?

I've come to realise that the average Nigerian is illogical and sentimental/emotional in his/her judgements. Sighs

Oga mi you are the one emotional and illogical here. where in my write up did i support or go against either of the party involved? I was just stating the obvious.

baralatie:


In monetary economics for an entity to survive in a business climate it is either you are making profit or loss.for mtn to run loss because of 1 person is loss!
make mtn and banks return all my money owed me through overpriced deductions

You can control your data or credit usage. Banks can deduct anything deductible.

But MTN is still angry. They sent me this today. So better to leave ussd for now before ur money go disappear with no airtime

festacman:
Hahaha! Banks in panic mode. The future is neither feminine nor masculine. It is FINTECH. Fintech, baby!

.

And with what s gong on in the Crypto world, Banks are just sitting ducks couple of years from now

loswhite:
What is the percentage of the population that uses fintech?

Good question

I tried top up my mtn credit this morning via First Bank. They debited me without recharging my credit. What can I do please

southniyikaye:
Na bank go loose Las Las.
Mtn already switched its consumers to finteck

How many people use fintech?

Na the two go lose.

annyz:
I tried top up my mtn credit this morning via First Bank. They debited me without recharging my credit. What can I do please

Go to firstbank Twitter page and complain.

Doraty1:

https://punchng.com/breaking-ussd-war-banks-unblock-mtn-reconnect-telco-to-banking-channels/?utm_medium=Social&utm_source=Twitter&amp&utm_medium=Social&utm_source=Twitter&__twitter_impression=true

After all that garagara....
>

Good news for MTN users...

Banks are very greedy. Nigerian Banks are very greedy. They want to collect 4.5% which is 45%, that is too much of selfishness. Customers pay a lot of indirect fees charged by those banks.

Now, in the banks I used, If I transfer 10K to someone, I am charged almost 70 naira, the recipient also does not receive the 10K, he receives 9,955, which means both the sender and the recipient pay for a single transaction. CBN, please, help us.

Las, Las the masses are the ones to suffer more

edoairways:

Most Nigerians don't use this platform

Actually most nigerians do. How people do physical recharge these days? MTN is the one losing.

Awoo88:

Actually most nigerians do. How people do physical recharge these days? MTN is the one losing.

Am not referring to ussd code via banks but other platforms like Julia pay, o pay etc

southniyikaye:
Na bank go loose Las Las.
Mtn already switched its consumers to finteck

You need the fin tech account to buy the airtime ..

Many won’t do such because

1. They are not as savvy with internet related transactions as to warrant opening such account and funding it from their bank account

2. Since the same bank code is used for both mtn and their other lines , it makes more sense to recharge glo or Airtel and always try mtn until it goes through


3. The loss of mtn is the gain of the other service providers not the banks

IntegrityFarmsN:
This is the beauty of open competitive market business: monopolistic exploitations are avoided and better options come up.

MTN was cut off by the banks and MTN started using fintech companies in Nigeria as ALTERNATIVES.

Then the banks rushed to lift the ban on MTN to avoid losing big business from MTN!!!

Read think .... fintec increase volumes means increased revenue to the banks from that source ...banks can decide to suffocate the fintec out of business after all, the funds of fintec are with the banks



Mtn is the only loser ...since other networks are still available , people will recharge and resort to those ones not fintec,

Fintec need details for you to run on their platforms and not many people are willing to give it to a faceless and “no address “ business just because he or she wants to recharge mtn

southniyikaye:
Na bank go loose Las Las.
Mtn already switched its consumers to finteck

no mtn, did you know i wanted to recharge yesterday or so.i didnt do it again

IntegrityFarmsN:
This is the beauty of open competitive market business: monopolistic exploitations are avoided and better options come up.

MTN was cut off by the banks and MTN started using fintech companies in Nigeria as ALTERNATIVES.

Then the banks rushed to lift the ban on MTN to avoid losing big business from MTN!!!

Gbam!!

Your post is the smartest on this thread so far.

capitalzero:


It is matter of time. Most people who use ussd or mobile bank app can also use fintech. I use fintech to recharge over weekend. Banks are very greedy. # 2.5 is ok for #100. Banks are insisting on #4.5. Mind you banks will still charge customers #4 for alerts.

That's what a lot of people don't know.

equity1:
You didn't read the article. it was cbn intervention.

After seeing MTN going to use Fintechs, the banks will go and meet CBN to intervene na.

Plead:


Those of you supporting the banks, are you guys doing so because of sentiments or what exactly? Few days ago, this same news outlet published a report that banks are owing telcos over #42billion naira. I think that's why mtn reduced their commission so that they can recover their own money, so what's the fuss about? You want the banks to continue enjoying with their crook ways while mtn sit and watch because they're not indigenously owned?

I've come to realise that the average Nigerian is illogical and sentimental/emotional in his/her judgements. Sighs

Gbam!

You deserve a presidential handshake for this post.

And for the bolded, I always tell people to leave out senseless emotions when making judgements, but it looks like most Nigerians tend to be emotional in their judgements thereby throwing away any form of logical and sensible reason.