About mCash
mCash is a NIBSS solution for Sellers/Merchants to receive Payments from Payers by dialing a USSD code on their mobile phones. The Seller will be required to have a Seller Code.
FAQs About mCash
mCash is a NIBSS solution for Sellers/Merchants to receive Payments from Payers by dialing a USSD code on their mobile phones. The Seller will be required to have a Seller Code.
Yes. Both Sellers and Payers need to have a bank account to use this service.
For both Sellers and Buyers, any type of account is allowed (Tier 1, 2 or 3).
1. A payer is also expected to register for the service according to their bank’s designed registration process (For Sterling Bank, once you are registered on *822# then you are automatically enrolled to pay with mCash);
2. Payers can then pay our merchants by dialing *402*Seller Code*Amount# from the mobile no tied to their BVN;
3. The payer selects the chosen bank account to pay from;
4. The Payer inputs a PIN for authorization (For Sterling Bank, it is the same PIN used on *822# but other banks decide their authentication process);
5. The Payer is debited, and Seller is credited instantly.
mCash is available across all major networks but remember it only works from the mobile no linked to a BVN. You do not need data or airtime credit to use mCash.
The Payer and Seller both receive a flash screen & SMS message showing status of the transaction.
The Seller can dial *402*1*Seller Code# to get a list of his/her last 5 successful transaction or *402*1*Seller Code*Transaction Ref# to confirm a specific transaction. The Payer can also report to our One Customer Center 0070078375464 or NIBSS 24hrs support center; Telephone: 01-4485388 or E-mail: [email protected] and a refund will be made in 24hrs after confirmation that transaction was successful.
For payers, no charge for transactions less than N2,000 but a N20 flat charge for transactions above N2,000. For sellers, no charge for transactions less than N10,000 but N50 flat charge for transactions above N10,000.
