MTN, the executive directors of the banks could not conclude

Written by Lucas Ajanaku

The meeting of the banks and MTN of Nigeria around the commission for the service of unstructured additional service data (USSD) did not end on Tuesday, but was gathered.

A letter signed by MTN CEO Karl Toriola to the bank’s CEO, Herbert Wigwe, who is also the CEO of Access Bank, indicated that the meeting would be held yesterday.

“In an attempt to resolve the current stalemate in supplementing the USSD, given the intervention of our regulators, we agree that banks should return to the status quo of 4.5 percent commission. However, banks and MTN Communications Nigeria Plc will meet to agree on various options that will result in cost reductions on April 6, 2021, ” the letter said in part.

But according to industry sources, the meeting was actually held yesterday, but should end tomorrow.

MTN reduced its commission to banks from 4.5 to 2.5 percent. After that, the banks took offense at the action and continued to write MTN to return to the status quo.

The Minister of Communications and Digital Economy, Dr. Isa Pantami, spoke. After his intervention, as well as the intervention of other stakeholders in the banking and ICT industry; MTN revised the commission by 4.5 percent, while banks reconnected telecommunications customers to their channels.

MTN, Nigeria’s largest telecommunications service provider, sources said, will continue its efforts to reduce commissions to banks for the USSD service as the telecommunications company has reported numerous fintechs for the sale of its customers.

One such platform is CWG’s Billsnpay-branded billing platform, which so far gives Nigerians the ease of charging their phone or even buying data. The platform can also be used for property levies, tuition fees, contributions, donations, faith-based payments and fundraising initiatives.

Billsnpay’s choice also comes barely 24 hours after the CWG announced a two percent discount on platform purchases as part of efforts to help pursue Federal Government cash economy policy.

“We offer Nigerians a two percent discount on our Billsnpay platform so that Nigerians can easily, quickly buy the broadcast from any service provider of your choice. Buying from the platform will allow you to spend less and save more, ”said CWG Head of Marketing and Marketing, Seun Koshoedo.

Meanwhile, MTN said the choice of alternative platforms like Billsnpay is in favor of its customers whose great inconvenience has suspended the provision of services by banks.

“We now have alternative channels such as BillsnPay, Flutterwave, Jumia Pay, OPay, Kuda and Carbon for electronic access to MTN services,” said Funso Aina, Senior External Relations Manager at MTN Nigeria.

CWS’s BillsnPay platform for presenting and paying bills is designed to support the semi-formal sector by “formalizing” the payment value chain. The solution seeks to transform the paper-based / bank-based transaction validation system, which is common to the appropriate digital account that can be offered in court. The platform can be used for property levies, tuition fees, contributions, donations, faith-based payments and fundraising initiatives.