The Unstructured Supplementary Service Data (USSD), which is aimed to be Africa’s standard for payments, allows interoperability amongst stakeholders in the payment ecosystem. According to the Guardian Nigeria, the solution allows customers using the USSD short codes of their respective banks alongside their mobile apps to pay for goods and services directly from their bank accounts and wallets. The transactions are accepted on POS terminals and ATMs, with receipts printed or on ecommerce sites with emails sent to registered addresses.
The C’Gate solution, which is already being deployed by Nigerian banks and Mobile Money Operators (MMOs), enables USSD to POS, USSD to web, USSD fast transfer transactions, USSD on app, USSD to ATM, and CiCo (USSD Cash-In and USSD Cash-Out) on POS.
Moreover, Zenith Bank has led the adoption of the C’Gate solution as an addition to its e-payment offerings, with other banks like GTBank, UBA, Access Bank, FCMB, FirstBank, Fidelity Bank, Wema Bank, Keystone Bank, Sterling Bank, Providus Bank and others following suit at various levels of integration and deployment.
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