What is the use of USSD?
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What is the use of USSD?
USSD (Unstructured Supplementary Service Data) is a protocol used by GSM cellphones to communicate with their service provider’s computers via text messages. We commonly use it to check mobile airtime and data balance enquiries, or to receive one-time passwords or PIN codes, among many applications.
What is the meaning of USSD in banking system?
Unstructured supplementary service data
Unstructured supplementary service data (USSD), a communications service controlled by mobile network operators, is a critical piece of infrastructure used to provide mobile financial services on most phones, at low cost, and without requiring access to the user’s SIM card.
Which banking services can be used through USSD?
USSD-based mobile banking can be used for fund transfers, checking account balance, generating bank statement, among other uses.
How do I transfer money from USSD to First Bank?
Transfer money using First Bank USSD code
- Customers should dial *894*Amount*Account Number#
- Confirm the amount you are transferring to the other bank account.
- Enter your First Bank Five (5) digit PIN you created during the registration.
- Select the account to debit the money from.
- Send.
What is USSD code in ATM card?
WHAT is USSD Banking? The Unstructured Supplementary Service Data (USSD) banking is a type of banking that enables you carry-out bank transactions by simply dialling a short code on your phone. It does not require the use of internet/web.
How do I opt out of USSD code?
To deactivate a USSD profile, simply dial *901*911# from any phone, input the registered phone number for the account you want to blacklist and your USSD profile will be deactivated and blacklisted automatically.”
Why USSD is called unstructured?
USSD applications run on the network, not on a user’s device. As such, they don’t have to be installed on the user’s phone, which is an advantage for users with feature phones that have limited storage space.
What is the code for First Bank?
First bank Transfer Code at a glance
| FEATURES | SHORT CODE |
|---|---|
| To Register | *894*0# |
| Airtime for self | *894*amount# |
| Airtime for others | *894*amount*Phone Number# |
| Transfer Money | *894*Amount*Account Number# |
What is USSD banking and how to use it?
USSD is a technology platform through which information can be transmitted through a GSM network on a basic phone. This service will be available on all mobile phones with SMS facility. To use USSD mobile banking, users will have to simply dial *99# and use the interactive menu.
How does USSD work for financial inclusion?
It sounds a bit complicated, and can get technical very quickly, but for the purposes of financial inclusion, there are two key things to understand. First, when you dial a number that starts with * and ends with #, you are using USSD.
How can we solve the USSD access issue?
Access to USSD is a technically and commercially complex issue that market players ideally can sort out amongst themselves. Some encouragement to sort it out directly may lead to the best outcome for all concerned. Introduce a dispute resolution mechanism (DRM).
Should regulatory intervention be used to regulate USSD?
In the event that a DRM does not result in a mutually agreeable outcome, and the non-provision of USSD is found to seriously hamper competition, regulatory intervention may be justified. In such instances, the most effective intervention may be to mandate that MNOs provide access to USSD, without regulating the price.