All About mCash – USSD Code *402# For Banks 5

All About mCash - USSD Code *402# For Banks

mCash – USSD Code *402#

Have you heard about mCash or Bank USSD  *402# code?

It is a new code that takes care of  Customers’ No cash – No Card situation .

Nigeria Inter-Bank Settlement System (NIBSS) owns the mCash platform.

What do we mean when we say No Cash – No Card? It means a Customer does not need any card to perform transaction. He or she does not also need to have any physical cash to make purchases at stores or shops..

Merchants/Sellers simply approach any CBN approved banks in Nigeria to be registered for mCash. Sellers an eight digit code from the Bank.

A Customer walks into any Registered mCash Merchant shop. The Seller only needs to have a new account or an existing account with any bank in NIgeria.

Banks give Seller code to their registered customers. Each Bank’s Sellercode is unique to the bank.

All Nigerian Banks depend on a shared USSD code for mCash merchant payments,


How Does mCash Work?

  • Dial *402*SellerCode*Amount#
  •  Simply select your bank from the list of options displayed.
  • Select your account number from the given options.
  • Enter your PIN. (New users will be required to register for a PIN)

You will receive a confirmation of payment alert.

The Merchant or the Seller will receive an alert too.

It handles  the need for POS machine for SMEs.


mCash Fidelity Bank

Simply dial *770*22*Merchantcode*Amount#

or dial *402*Merchantcode*Amount#

Maximum allowed transaction is N50,000 (Fifty thousand Naira only)

Find more information on Fidelity mCash


Zenith Bank mCash

dial *402*Merchantcode*Amount#

Zenith Bank mCash code is thus – *402*9660_ _ _ _ * Amount#

Example :  *402*96607131*5000# (where 96607131 is the Merchant Code and 5000 is the amount)

Find more information on Zenith Bank mCash


 Recommended Reading : All Banks USSD Codes For Fund Transfer


We also have mCash available for other Banks’ customers like Diamond mCash.


mCash Advantage Over The Use of POS Machine.

  • Unlike POS, It does not require the use of Internet
  • It works on all Mobile phones.
  • The Seller receives instant settlement.


Some organisations are already using mCash payment.

They include-

ANAM mCASH – Making payment to Association of National Accountants Of Nigeria


Some Things To Note About mCash

These are some things you need to know about mCash. These may likely change with time.

Merchants do not pay any money to receive seller codes from Bank.

Customers must be registered on the USSD platform of their Bank

USSD messages as the mCASH USSD channel is zero-rated. No SMS charge to Payers.

Visit MCash Website here

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