With this service, Fidelity Bank customers will be able to make small ticket payments to merchants registered with any of the participating banks.
How it works
Customers can dial *770*22*Merchantcode*Amount# from their mobile phones with the phone number linked to their BVN and the merchant is credited instantly.
A customer can also dial *402*Merchantcode*Amount#
As a Business Owner (Merchant or Seller)
• Register for mCASH with us
• You will be issued an 8-digit Seller code
• Paste the communication material that contains the seller code at your Pay Point in the clear view of payers
As a Payer (Customer or Buyer)
• Simply dial *770*22*Merchantcode*Amount#
• The Screen will display
1. The Name of Seller
2. List of your Banks
• Select your Bank
• Input your Instant Banking PIN/Passcode
• If you do not have a PIN/Passcode, you will be required to register for a PIN/Passcode
Key features of mCash
• Merchant (Seller) code is assigned without charge.
• The Seller receives instant credit for all transactions
• Payment is made with bank account number. You do not need a card for mCASH payment.
• The Telcos will not charge for USSD messages as the mCASH USSD channel is zero-rated
• Merchants(Sellers) will not bear any cost for Transactions below N10,000.00
• Payments can be made from any type of mobile phone.
• Payment receipt is provided as an alert by the payer’s financial institution
• Transaction security is ensured using the PIN entered by customer, IMSI (International Mobile Subscriber Identity) provided by the Mobile Network Operator (MNO) and BVN of the account Holder.
• The maximum transaction limit is N50,000
How is this service beneficial
• Additional Instant Payment alternative for Fidelity customers
• 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
Who can use mCash
• Small and Medium Scale Enterprises (SMEs)
• Religious organizations
• Bank account holders
• Anyone with a mobile phone