MTN has named CWG’s BillsnPay and other fintech companies as alternative airtime top-up channels, as the Telecoms company plans to meet banks on Tuesday, April 6, 2021.
This was disclosed by the company in a statement issued on Monday.
The Telco giant took the decision after banks shut down the use of Unstructured Supplementary Service Data (USSD) by subscribers across Nigeria.
READ: How fintech companies are wrestling with commercial banks in Nigeria
Why recharging via FinTechs is better
Unlike commercial banks, recharging mobile lines or data plans via Fintech platforms (including Billsnpay) is cheaper for subscribers, as the latter offers 2% or more discount in support of the cashless policy.
The statement issued by MTN read, in part, “You can buy airtime with ease, in a flash and from any service provider of your choice. You spend less and save more because all airtime purchases attract 2% on the platforms.
READ: MTN Nigeria declares largest ever revenue by a listed Nigerian entity for FY 2020
The selection of alternative platforms like the Billsnpay is for the benefit of the customers who have been greatly inconvenienced by the service suspension from the banks.”
The solution seeks to transform the ‘paper-based/bank-alert-based’ transactions validation system that is common to a proper digital receipt that can be tendered in a court of law.
READ: USSD service disruption: MTN to use Flutterwave, Opay, Kuda, other payment channels
What you should know
Nairametrics had reported that banks have lifted the ban placed on MTN subscribers from recharging their lines or data plan via USSD ahead of the duo’s meeting on Tuesday.
This was confirmed by our analyst, who recharged his line using the USSD code of GTBank on Sunday.
Meanwhile, media reports have it that MTN has reached an agreement with the commercial banks, leading to the restoration of the hitherto suspended services.
The restoration of services was also confirmed by the Minister of Communications and Digital Economy, Dr Isa Pantami, on Sunday afternoon, through his verified Twitter handle.
