No More Free USSD? Union Bank, FCMB Begin Airtime Deductions

USSD, trust, and payments: What Africa can teach the U.S.

When people think of culture, they often picture language, food, or tradition. But after living and working in over thirteen countries, both developed and emerging, I’ve found that how people pay is just as telling. Payment habits are deeply cultural. They reflect trust, social norms, and economic realities. In the U.S., for example, credit cards are a way of life. They signal trust in deferred payments, access to rewards, and protection via cha…

No More Free USSD? Union Bank, FCMB Begin Airtime Deductions

For millions of Nigerian bank customers, using USSD codes for quick banking just got more expensive and this time, the deduction isn’t from your bank account, but from your airtime balance. Union Bank and First City Monument Bank (FCMB) have officially announced that they are switching to a new billing model that deducts USSD charges … The post No More Free USSD? Union Bank, FCMB Begin Airtime Deductions appeared first on Business Elites Africa.

Airtime for USSD: See the list of banks that have adopted the new end-user billing model

To strengthen financial inclusion, the Nigerian Communications Commission (NCC) introduced a new USSD billing model. Under the structure, customers’ USSD banking charges will be deducted from their airtime instead of their bank accounts.  The Unstructured Supplementary Service Data (USSD) has been a banking alternative for users due to its usage without the need for an internet connection. It has been a vital service that enables customers to co…