Funding Your Bank Account with Mobile Recharge Cards: The Future of Financial Inclusion or a Hidden Cost?
Funding Your Bank Account with Mobile Recharge Cards Funding Your Bank Account with Mobile Recharge Cards: The Future of Financial Inclusion or a Hidden Cost? Introduction: The Rise of USSD and Mobile Recharge Cards in Nigeria In Nigeria, where over 58.3 million adults remain financially excluded, mobile technology has become a lifeline for millions. Unstructured Supplementary Service Data (USSD) banking—those quick codes like *737# or *906#—has revolutionized how people transfer money, pay bills, and even buy airtime without stepping into a bank. But what if you could do the reverse? What if, instead of using your bank balance to buy airtime, you could convert your unused mobile recharge cards into cash to fund your bank account? This isn't just a futuristic idea—it's already happening. A groundbreaking study by researchers at the University of Ilorin, Nigeria, titled ...