The full meaning of USSD is Unstructured Supplemental Service Data (thats what USSD stands for). USSD can also be called “quick code.”
The USSD is currently the best available communications technology to deliver mobile financial services to low-income customers.
USSD (Unstructured Supplementary Service Data) is a Global System for Mobile Communications (GSM) protocol that is used to send text messages. USSD is similar to Short Message Service (SMS).
USSD uses codes made up of the characters that are available on a mobile phone. A USSD message, which can be used to establishes a real-time communication session between the phone and another device typically, a network or server.
As the name suggests, they are codes that let you use your mobile phone network provider’s options. USSD can be used for a lot of different things, like a callback service, mobile money, content, information, or to configure a network. In this case, we’ll talk about how USSD is used in banking.
The term “USSD Banking” refers to a sort of banking that enables you to carry out financial transactions from the convenience of your mobile phone by utilizing “short codes” or “quick codes.” A cellphone network is all that is required; an internet connection is not essential in any way.
Through USSD banking, you were able to carry out virtually any type of financial activity, from transferring funds to purchasing airtime. The most crucial thing to note is that you can apply for loans by using USSD numbers.
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10 Significant Benefits of USSD
Here are the 10 significant benefits of USSD:
- USSD does not require internet connection or data to work. It allows free of charge roaming.
- USSD practically works on all GSM standard mobile phones. Since no high tech phone is required, you are guaranteed to reach more people as not everyone owns a smart phone.
- USSD can work across all mobile networks. It only needs a connection to the GSM network to work as it’s not mobile or SIM based.
- USSD is highly interactive; User can quickly see response on their phone screens and can make more requests hence allowing faster two-way communication and interaction that is seven times faster than SMS.
- It is highly customizable, making it ideal for all your business needs.
- USSD is extremely cost effective for businesses to implement and run, it is also free for subscribers to use.
- USSD content can be personalized and responses can be obtained in real time.
- It is user friendly and can be used by anyone.
- USSD service is easily accessible anytime and anywhere.
- USSD offers a possibility for portal structure building that can be simplified for users to easily remember.
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