Economically weaker sections of society and people who have limited access to mainstream financial services can benefit from USSD service. USSD, or Unstructured Supplementary Service Data, offers mobile banking services without the need for an internet connection.
It works as a communication protocol between mobile phones and the service provider’s computers. It is also called the *99# service and is offered by leading banks and GSM service providers.
In this blog, we explain how USSD banking works, its uses, and how to make transactions using this service.
USSD makes use of GSM, or Global System for Mobile Communications, networking. The number used for mobile banking is *99#, which initiates an interactive menu.
When a user dials this code, a request is sent to the mobile network operator’s computer systems. After processing the request, a response is sent to the user’s phone.
A two-way exchange of information then continues while keeping the communication channel open. This real-time interaction allows users to manage services like balance inquiries and mobile payments.
By using this service, you can check your remaining account-related balance and other available information through the menu.
By using USSD code, you can top up your prepaid account with a voucher or online recharge.
Use USSD menus to activate new data plans, check data usage, or change your data pack.
You can contact your service provider’s customer assistance by entering a specific USSD code.
You can verify account balance, execute fund transfers, or settle payments with USSD banking services, provided your bank offers this facility.
Get information about stock market fluctuations using USSD services offered by select providers.
USSD services can also be used to access information-based menu services, depending on the provider.
USSD banking helps bridge the gap between traditional banking and underserved populations through a simple mobile-based service.
Its biggest advantage is that it does not depend on internet access, which makes it useful for a wider user base.
With services such as balance inquiries, fund transfers, and recharge support, USSD banking offers a convenient and accessible way to perform basic financial transactions.