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CoralPay announces first interoperable USSD



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CoralPay Technology Limited , a payment switching and transaction processing company , has introduced  the first interoperable Unstructured Supplementary Service Data ( USSD) and mobile payment platform to Nigerian citizens who are in need  of a ideal and safe payment solution .


The solution , which has become Africa ’ s Gold Standard for payments , provides avenue for enhanced interoperability amongst stakeholders in the payment ecosystem.

Chief Executive Officer , CoralPay, Chioma Nkechika , noted that the system also creates access for customers using the USSD short codes of their respective banks alongside their Mobile Apps to pay for goods and services directly from their bank accounts and wallets.

 The transactions are accepted on point - of- sale (POS) terminals, and Automated Teller Machine ( ATMs ) , with receipts printed or on eCommerce sites with emails sent to registered addresses .

The C’ Gate solution , which is already being adopted and deployed by leading Nigerian banks and Mobile Money Operators (MMOs ) , seamlessly enables USSD to POS , USSD to Web , USSD Fast Transfer transactions , USSD on App, USSD to ATM, and CiCo ( USSD Cash - In and USSD Cash - Out ) on POS. I grants flexibilties to customers when making payment options more than any other solution currently available in the Nigerian market .

Zenith Bank has also adopted  the C’ Gate solution as an addition to its e - payment offerings making it the first bank to adopt the solution , with other banks following suit at various levels of integration and deployment .

Significantly,POS transactions   have evolved remarkably with total transaction count up ( YoY ) from 63 . 7 million to 146 . 3 million transactions , with corresponding value rising from N758 . 9 billion to N1 . 4 trillion as at the December 2016 and December 2017 , respectively .

This does not include web payments , ATM operations and mobile money transfers, all of which are now seamlessly integrated with the C’ Gate Platform .

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