African digital payments company DPO Group has announced the introduction of a new form of payment that will allow merchants to get paid by their customers via a USSD code. This new feature, says DPO, allows merchants to receive payments from customers who don’t have access to mobile banking or a payment card.
USSD (unstructured supplementary service data) is a GSM protocol that is used to send text messages. Paired with DPO’s payment offering, USSD payments enable merchants to grow their customer base by accommodating as many payment methods as possible, getting paid from different shoppers across Africa.
DPO says it 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, says: “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.”
DPO Group currently works with over 60,000 active merchants, including businesses in the e-commerce, travel and leisure sectors. The company was founded in 2006 and has grown to be a pan-African payment service provider with more than 400 employees.
This is evidently a growing market. DPO says that a total of 336.5 million USSD transactions were recorded in the first nine months of 2020 in Nigeria. It adds that in December 2020, the value of USSD transfer payments in Nigeria amounted to over 550 billion naira (about US$1.326 billion).