DPO Group enhances USSD payment option in Nigeria

NIGERIA – Pan Africa payment service provider, DPO Group has added a new form of payment that will allow merchants to get paid by their customers via a USSD code in Nigeria.

The new feature allows merchants to receive payments from customers who don’t have access to mobile banking or a payment card.

Paired with DPO’s robust and scalable payment offering, USSD payments enable merchants to grow their customer base by accommodating as many payment methods as possible, getting paid from different shoppers across Africa.

Founded in 2006, DPO Group has developed the technology to enable businesses and individuals across the continent to make payments online and offline with all currencies.

Currently, the Group works with over 60,000 active merchants, including businesses in the eCommerce, and the travel and leisure sectors.

It also operates in 20 countries and accepts payments securely and swiftly through many payment methods including virtual cards, mobile money, and e-wallets.

According to DPO’s country manager in Nigeria, Chidinma Aroyewun: “As the shift to a cashless, digital economy becomes a reality, we want to make it easier for both the customer and merchant to carry out transactions.”

With more than400 employees DPO Group has completed a total of 336.5 million USSD transactions in the first nine months of 2020 in Nigeria.

In December 2020, the value of USSD transfer payments in Nigeria amounted to over 550 billion Naira (US$ 1.32 billion).

The emergence of Nigeria as a regional economic powerhouse has accelerated the adoption of policies on financial inclusion so that the rising economic tide can benefit more people.

According to a survey by EFInA on Access to Financial Services in Nigeria, there are 93.5 million Nigerian adults, of which 59.8 million live in rural areas while 33.7 million live in urban areas.

Of the rural population, about half are financially excluded, (28.6 million adults); while about a quarter of those who live in urban areas (8.4 million adults) are financially excluded.

The Nigerian Central Bank has taken determined steps to harness the potential of digital payments, which evidence shows are key to expanding financial access at scale. Specifically, the Central Bank has delivered Cashless Nigeria –an ambitious policy platform.

Digital payment providers such as DPO use of USSD ensures that the majority of the population can access payments method regardless of whether they are online or offline.

Liked this article? Subscribe to DealStreet Africa News, our regular email newsletter with the latest news, deals, and insights from Africa’s business, economy, and more. SUBSCRIBE HERE

Other Recent Posts

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.