By Modupe Gbadeyanka
The mobile payment system in Africa has been revolutionised by United Bank for Africa (UBA) with the introduction of *919# platform tagged UBA Magic Banking.
Unfortunately, the platform is only available in Nigeria at the moment.
The USSD code *919# enables customers to do a multitude of tasks such as: open UBA accounts, transfer funds to UBA and other banks, buy airtime, pay bills and access a mini statement.
The lender said it came up with this initiative in line with its determination to dominate Africa’s mobile banking space with the introduction of cutting edge technology-driven products and services.
According to the bank’s Group Head in charge of Consumer and Digital Banking, Dr Adeyinka Adedeji, “Not only does this code work on all phone types, it is fast and convenient and does not require data on the phone to send money.
“It also allows a higher transaction limit of up to N1m per day with the UBA Secure Pass (formerly token).”
Dwelling on the specifics, Dr Adedeji noted that to send money to a UBA account for example, the user should dial *919*3# from their phone number registered with UBA and follow the simple steps prompted by the phone.
Also, by dialling *919*32#, the customer can send money to a UBA Prepaid Card and to other banks by dialling *919*4#. Furthermore, airtime top up services can be carried out via the platform by simply dialling *919*Amount# and third party top-up can be done with *919*Phone number*Amount#. For a full range of services, a customer will dial *919#
While commenting on the development, the Group Managing Director of UBA Plc, Mr Kennedy Uzoka, noted that the introduction of the new products was in line with the bank’s policy of democratising banking on the continent by reaching out to the unbanked through technology driven platforms that are simple, efficient and user friendly.
“We are committed to innovating through products and services in the financial technology space that will ensure our customers have the best banking experience with all our service channels, and we have committed huge financial investments towards achieving this,” he said.
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