Pay Without Card Solution Unveiled

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CoralPay has deployed the first interoperable USSD and mobile payment platform to Nigerians desirous of a seamless and secure payment solution.

The solution, which fulfils the mantra of being Africa’s Gold Standard for payments, allows for enhanced interoperability amongst stakeholders in the payment ecosystem.

The solution, according to the CEO CoralPay, Chioma Nkechika, allows 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.

A statement explained that the transactions are accepted on PoS terminals, and ATMs, with receipts printed or on e-Commerce 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, offering customers more flexibilities and payment options than anything currently available in the Nigerian market.
“Zenith Bank has led the adoption of the C’Gate solution as an addition to its e-payment offerings, with other banks like GTBank, UBA, Access Bank, FCMB, FirstBank, Fidelity Bank, Wema Bank, Keystone Bank, Sterling Bank, Providus Bank and others following suit at various levels of integration and deployment,” the statement added.

PoS transactions have grown significantly, with total transaction count up (year-on-year) 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 excludes web payments, ATM operations and mobile money transfers, all of which are now seamlessly integrated with the C’Gate Platform.
On C’Gate, the CoralPay boss said that the solution was designed and developed locally, leveraging on the global experience and expertise of the company’s engineers, drawing on the declared mission to build ‘Africa’s Gold Standard’ for payment, encouraging financial institutions and SMEs grow capacity through financial inclusion and innovation.

He further hinted that the C’Gate platform as deployed, is the first of several breakthrough solutions the company has in its pipeline, adding that they are well-primed to bring more innovative services into the Nigerian market.
On the advantages of C’Gate, the CEO, said customers are now liberated from their cards and can now transact on POS, Web and ATM-like transaction without their payment cards, while confirmation is received via printed receipt at the point of interaction or email. Customers can carry out these transactions remotely or while physically present with the merchant.