Nigerian e-commerce company, Konga has launched a new Unstructured Supplementary Service Data (USSD) feature to ease transactions and a tool that allows cardless ATM withdrawals for its customers.
The new features are available on Konga’s secure payment platform, KongaPay, which is licensed by the Central Bank of Nigeria (CBN). The platform also offers peer to peer transfers, subscription payment for DStv, purchase of digital goods and airtime at discounted rates.
Speaking on the launch of the new services, Joshua Fatoye, the Vice-President of KongaPay explained that the new cardless initiative would allow account holders to withdraw cash from any Automated Teller Machine (ATM) nationwide, without a debit card.
He also added that the new USSD feature was aimed at providing an alternative to the web and mobile channels.
Withdrawal without ATM card using KongaPay
Fatoye revealed that customers who want to make cardless withdrawals would be required to sign up on Kongapay.com and ensure that their KongaPay wallet is funded using any of the funding options
“All the customers are required to do is to sign up on Kongapay.com and ensure that their KongaPay wallet is funded using any of the funding options. Then, the account holders need to log into their wallets via the web or app.”
Joshua Fatoye, the Vice-President of KongaPay
To cash out, users can click on the cardless cash-out feature, enter their mobile number or that of the person they wish to send money to.
The person you are sending money doesn’t necessarily have to be registered on KongaPay Wallet. To complete the transaction, the user will have to input their personal identification numbers (PINs) and One Time Password (OTP) to complete the transaction.
“The customer who initiates the transaction will receive a message thus: ‘Your pay code request was successful’, and the beneficiary will get a short message service (SMS) notification with the withdrawal code details.
Joshua Fatoye, the Vice-President of KongaPay
The cash sent can then be withdrawn from any ATM using the cardless withdrawal or pay code cash-out feature. By inputting the 8 to 14-digit withdrawal code, earlier sent via SMS, and inputing the cash out PIN sent via SMS, the recipient can collect cash instantly.
With the launch of its USSD services, KongaPay joins the like of OPay and Flutterwave who offer the service. According to Fatoye, the USSD channel will boost financial inclusion for millions of unreached and under-served Nigerians.
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