Banks have been directed to pay telecommunications corporations for the usage of Structured Knowledge Service (USSD) by their prospects. There have been various confrontations between Banks and community suppliers over USSD prices, after the price was initially set for purchasers.
The USSD price for banking providers imposed on prospects has led to a riot by Nigerians who’ve protested the choice. This has led to counter-arguments between banks and community suppliers, as they’ve blamed one another for the choice to cost prospects who use the USSD code for banking providers.
Banks stated it was the community suppliers who determined to cost prospects, whereas telecommunications stated banks have pushed the prices for purchasers. To resolve the issue, the federal government has dropped the USSD cost, asking banks and community suppliers to ascertain a cost construction that won’t contain prospects.
Talking on the USSD accusation, the Minister of Communications and the Digital Financial system, Isa Pantami, stated: “USSD is a service for banks and never for Telecom Customers, and as such, banks ought to look as company prospects of telecommunications operators with an obligation to pay for the usage of the telecommunications community and infrastructure, together with USSD channels prolonged to them for the supply of providers to their prospects, ”he stated. .
“Cellular Community Operators (MNOs) don’t have any direct relationship with banking prospects, and can’t, due to this fact, cost straight for the usage of the USSD channel.”
In the meantime, NCC govt vice chairman Umar Danbatta stated the USSD accusation ought to be between banks and community suppliers. He stated prospects shouldn’t be billed straight by the Cellular Community Operators for monetary providers rendered by prospects on the financial institution’s USSD.