Cancellation Of MTN-Bank Airtime & Data Recharge Channel

Several years ago, the telecommunication service providers went into partnership with financial institutions (banks) in Nigeria.

The partnership presented bank users with the opportunity to recharge their mobile phones with airtime or data directly from their bank account.

This partnership has come in handy due to the comfort it offers.

Virtually everyone has embraced the idea of recharging their phone right from their bank account, whether via USSD code, bank application or even on the ATM (Automated Teller Machine).

However, banks takes the share of 4% on every recharge made via their platform. They use the 4% portion taken to maintain their payment infrastructure (USSD, Mobile application and ATM) where these airtime and data recharge is taken place.

It was reported that the partnership between MTN and financial institutions (banks) came to an abrupt end in March 2021.

MTN, a well-known telecommunication service provider, proposed that the 4% portion that goes to banks should be reduced to 2.5%.

However, several financial institutions insisted it can’t be done that way since they use the portion they receive to maintain their payment infrastructure where these transactions are taken place.

After much deliberation, MTN still stood their ground on the reduction of banks percentage, thus, the banks CEOs allegedly yanked MTN off all their payment services.

This action has left MTN users stranded as they can no longer recharge their mobile phones with airtime and data from their bank account.

On 2nd April 2021, MTN sent a broadcast SMS to all its customers, saying “Dear Customer, our bank recharge channels are currently unavailable. Kindly recharge using physical cards. We apologise for the inconvenience. Thank you.”

They also sent another message to re-introduce ZIGI as a means customers can use to buy airtime and data online.

What Is ZIGI (MTN)

Zigi is an online assistant chatbot created by MTN for its users to interact with the brand digitally.

ZIGI is available on WhatsApp, Facebook Messenger, the official MTN website and myMTN mobile application.

This chatbox was first announced by MTN in November 2020, It was said to provide services like;

How To Use ZIGI To Buy Airtime Or Data Bundle

To recharge airtime or data bundle on ZIGI is quite easy, I will be mentioning four (4) different ways;

1. WhatsApp: Send a WhatsApp message to ZIGI ON 0903 300 0001 or you click here
2. Facebook Messenger: Click here to chat with ZIGI on Facebook messenger
3. Telegram: Click here to chat with ZIGI on Telegram
4. Web: Click here to chat with ZIGI on your web browser.

Summary: Prediction Of The Outcome Following The Cancellation Of MTN-Bank Recharge Payment Channel  

It going to take MTN users some time to adjust to the new online assistant chatbox, ZIGI.

Some might resort to going back to the traditional way of recharging mobile phones, which is buying print recharge card.

Because a large percentage of Nigerians has more than 1 sim card, some might rely on their other sim cards.

If Nigerians end up embracing MTN online assistant chatbox, ZIGI, other telecommunication service providers might consider doing the same thing.

For now, our fingers are crossed.

Originally posted on April 3, 2021 @ 2:55 am