USSD Retail Payment is a solution which enables FirstBank customers to receive instant payments from anyone using a simple USSD short-code. The transactions are consummated via a mobile phone technology, using text-based interaction between a mobile device and an application platform or financial host.​

Simply put, this involves the use of a string of numbers to make payments for goods and services using a mobile device. The string of numbers consists of codes, unique IDs and details of the transaction being consummated.

• A unique USSD code is generated by the Bank and tied to the receivers account number for receipt of funds. Anyone can create a unique USSD code by dialing *894*99# for a self-enrolment or visiting any of the branches or through merchant services on Firstmobile app
• Customer dials Bank USSD syntax e.g. *894*89400000*Amount# for payment from FirstBank or *402*89400000*Amount# (mCash) from other banks
• The session returns for the customer/payer to input his/her customer ID and PIN number
• After successful authentication, debit is passed to customer/payer account and instant credit to receivers account
• Receiver will get a push message on the mobile number registered to him/her notifying them of transaction status
• The fee charged to receiver is graduated based on the value of transaction. Customers/payers however are charged N20 per transaction.

Benefits to the Merchant;

• Wider acceptance: Anyone can receive payment if cash and debit/credit cards are not available
• Instant settlement to account
• Zero fee on transactions below NGN 5,000.
• Increased security of payments
• Reliability/close to zero failure rate

Benefits to the Customer;

• Convenient way to make payments
• Increased security of payments
• Reliability/close to zero failure rate
• Increased speed of transaction

Anyone can use the USSD code to receive payment instantly.

To begin to receive payments you can create your unique USSD code by:

• Dialing *894*99# for self-enrollment
• Through merchant services on Firstmobile app
• Through the branch