Wednesday, July 6, 2022
Wednesday, July 6, 2022
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DPO Group enables USSD payment option in Nigeria

by Val Lukhanyu
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Leading African digital payments company DPO Group has added a new form of payment that will allow merchants to get paid by their customers via a USSD code. This new feature allows merchants to receive payments from customers who don’t have access to mobile banking or a payment card.

Paired with DPO’s robust and scalable payment offering, the USSD payments will enable merchants to grow their customer base by accommodating as many payment methods as possible including getting paid by different shoppers across Africa.

DPO has developed integrated payments technology to support businesses of all sizes in over 20 countries and accepts payments securely and swiftly in all currencies and through many payment methods including virtual cards, mobile money, and e-wallets.

DPO’s country manager in Nigeria, Chidinma Aroyewun, said: “As the shift to a cashless, digital economy becomes a reality, we want to make it easier for both the customer and merchant to carry out transactions. We are passionate about empowering our merchants with the tools they need to grow.

Since the pandemic days, Nigerians have been speedily moving away from physical banking. According to a 2021 research by Nigerian Inter-Bank Settlement System (NIBSS), the report notes that the volume of mobile transactions in the country grew from 506.16 million in 2019 to 933.66 million in 2020, indicating a surge of about 84.5% YoY while the volume of USSD transactions grew from 422.7 million to 762.19 million, advancing by about 80.3% YoY.

DPO Group currently works with over 60,000 active merchants, including businesses in the eCommerce, travel, and leisure sectors. The company was founded in 2006 and since then it has grown to be a Pan-African PSP with more than 400 employees. In December 2020 alone, the value of USSD transfer payments in Nigeria amounted to over 550 billion Naira. A total of 336.5 million USSD transactions were recorded in the first nine months of 2020 in Nigeria.

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