rajiedreez:
I'm trying to understand your point of view, but you didn't put into consideration that the banks were the ones that enabled the so called interswitch. Interswitch can't work independently neither can fintech. everything is connected to banks in Nigeria. If a new technology comes now that promises the banks better return than interswitch, they'll dump interswitch in no time. A good example was when CBN directed the banks to shut accounts of crypto vendors it reduced the purchase of the digital currencies all together. If the banks intends to put the plug on fintech company they'll have no bank remit and coordinate their transactions, because it you buy airtime from them they'll have to send the money from their own accounts to the networks account in the banks and that's what the crypto guys were doing before CBN pulled the plug on them. So if a solution isn't found soon consumers will feel the heat and MTN will loose than the Banks

PrimadonnaO:
Time for JumiaPay to shine.

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

spacechuks:
Those of you that are saying mtn will win

It will shock you mtn provides network for most of the banks which definitely they will lose

Recharging via fintech and other platforms, how do you introduce the cash into the platforms, you will either use your bank debit cards or pay cash, I dont get it,

Fintech dont have CBN licence to run accounts,

Both parties need each other to strive and make profits, they should settle the issue amicably

Alejoas:
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!.

MASTAkiLLAh:
Good one from MTN, the greedy banks can go suck a rhino's díck

DelTel:




Quite interesting to see people support MTN on this, has MTN reduced calls or data rates or any of their services to justify the reduction in commission rate.

What reason(s) has MTN provided to reduce commission arbitrarily whereas other Telcos didn't.

The new platforms they are promoting are just smokescreens, MTN has agenda they are working on to push everyone out of the market. While I am less bothered about the banks, I am for the SMEs (or are you unaware roadside, paper-based and e-recharge commission is also affected).

The same matter is brewing with electricity companies, they keep reducing commission for SMEs whereas the electricity rate keeps going up.

MTN don't want anyone to make money in their space (every unit in MTN boost of cost reduction), whereas same MTN is encroaching other market space i.e selling inverter.

How a South African company plans to kill SMEs and Nigerians are in support baffles me.

Oyiboman69:
its OK if you have no answer to that cos there's no way their millions of customers will put their money with in the hands of fintech...I guess fintech will still have something to do with the banks....

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.

pmc01:


It's not that mobile, is it?

valentineuwakwe:


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

Dechief:

How much and where's your location

Nodogragra4me:



I have recharged my glo twice when mtn didnt go through. Won't inconvenience myself with any so called fintech for their bnefit

Abuleoshi:

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.

4ckyou:


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.

bcomputer101:
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.

Eteka1:
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.

Abuleoshi:

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.

DelTel:


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 when someone like you gets to position of authority someday).

Happy Easter.

rajiedreez:
Both MTN and the banks are thieves. But one steals and use the money here in Nigeria and the other steal and look for cunning way to pack the money to South Africa. I'll go with the naija thief on this one. MTN like other South African company sees Nigeria as a Cash cow, they milk the citizens with help of other Nigerians and try to pack all the money back to their country through the backdoors

airsaylongcome:


When Interswitch started in the 90s a lot of people said "There's NO WAY cards and ATMs can work in Nigeria". Today almost everyone uses a card and pay for that. It's just a matter of time. Technology is an enabler and this move by MTN just gave Fintechs an opening to massively enter that market. The choice is for customers to look for physical Top-up cards to manually load their lines or leverage the technology offered by Fintech. Have you stopped to ask why this move was done over the Easter period? Or you think it was a knee-jerk action by ALL the banks?

OfeAkwuPrincess:


Ok...so MTN reduces the commission of the banks to 2.5%, which the bank also shares with the aggregators, and MTN takes about 97.5% for themselves.

So how do the banks maintain their apps and USSD platforms with the little percentage given to them Which MTN benefits greatly from because it’s convenient for its subscribers?

Who is greedy here?...MTN or banks?
And then overnight MTN announces an alternative platform as if they’ve not got it all planned from the onset.

Why are other networks not in a feud with banks?

Sagay212:


Omonthe percentage nor small oo. The banks are just greedy. If you know how much airtime people buy electronically everyday. MTN can chop data like mad but their internet service is the best. Some people recharge more than 5k per day.

Babalawoniger:
Two useless thieves fighting for their pocket.

Abuleoshi:

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!

MASTAkiLLAh:
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 ?

AK481:


Where will opay see the money they want to use to exchange credit ?

Will I credit my opay account?