mCash : Nigeria USSD Mobile Payment Solution For Sellers

mCash Nigeria is a new USSD mobile payment solution for merchants in Nigeria; recently launched by the Nigeria Interbank Settlement Scheme, NIBSS in collaboration with banks in Nigeria and the four major telecommunications operators, Etisalat, MTN, Airtel and Globacom.

The new Nigerian mobile payment solution utilizes Unstructured Supplementary Service Data, USSD code in payment processing and proposes to aid payments to Merchants (Sellers) for commodities and services.

Merchants in Nigeria can deploy mCash as a payment channel by registering with their banks, who will issue them an 8-digit seller code (for free) which buyers or payers need to use while making payments to them. Merchants are expected to display their allocated mCASH merchant codes at their various business locations for proper payers notification.

mcash logo online mobile money payment solution

A customer who wants to make payments through mCash, has to dial the universal mCash USSD code, *402*SellerCode*Amount#.

Upon dialing the code, the name of the seller will appear and a list of banks a customer wishes to make payments from. The user can then select a bank and input passcode to authenticate and complete the transaction. Upon completion of the transaction, both the buyer and the seller will receive flash confirmation of debit and credit messages instantly. Customers who don’t have a PIN/Passcode, will be required to register for a PIN/Passcode.

However, only mobile numbers linked to a user’s BVN are allowed for mCash transactions.

Users are charged N20 per transaction through mCash for all transactions below N10, 000 while all transactions above N10, 000 cost N50 to both the merchant and the customer. Should transactions fail a resolution is guaranteed within six hours.

Benefits of mCash Nigeria

  • Additional Instant Payment alternative for Nigerians
  • Instant Settlement of Merchants (Sellers)
  • Requires no Internet Access
  • Works on all mobile phones
  • USSD service is available on all mobile networks with a wide coverage across Nigeria
  • 24/7 availability
  • Renders every participating merchant’s mobile phone as a point of sale device
  • It is easy and convenient as it limits the volume of cash individuals need to carry around. It is well suited to micro payments.
  • Facilitates financial inclusion
  • Provides necessary information to the beneficiary e.g. Payee’s name and Payment Narration to help with reconciliation

You can read more about mCash at :

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Written by Jide Ogunsanya

Pro Nigerian Blogger, Digital Marketer and Web designer. I help business owners to grow their businesses online. You can join my Facebook Group here or join my Telegram Group here.

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  1. In as much as it sounds good for ease of transaction, my fear also is that it makes it so easy for criminals to force anyone with a phone to transfer monies to them under gun point. There is news making the rounds that they even go around now with POS machines to rob people on the move. Therefore, I am of the opinion that before a transaction code is given to individuals, a measure of security check on the purpose be carried out; how genuine the business is, easily traceable present contact of the customer and so on.

    So I have my fears because it looks seems to be an easy route for fast robbery.

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How To Pay Or Receive Payments With mCash