mCash is the short form of microCash. It is a mobile payment solution system built to enhance the payments of low-value retail transactions. mCASH helps Sellers of goods to receive Payments for their goods from their respective buyers via their mobile phones. However, the Seller is required to possess a Seller Code.


mcash is designed by Nigerian Interbank Settlement System (NIBSS) to enable the low income buyers and sellers interact in a cashless norm. The Nigerian Interbank Settlement System is in partnership with the mobile networks in Nigeria as well as the Nigerian banks. This means everyone is allowed to be a user as long as you use a Nigerian bank and you are a subscriber to one of the mobile Telecoms in Nigeria.


The  Nigerian Interbank Settlement System (NIBSS) has made it compulsory for all account to be used to possess Bank Verification Number (BVN). This is to ensure ease of operation while they stand to insure transactions below N50,000. The Nigerian Interbank Settlement System (NIBSS)  also promise a refund in 6hours maximum in the case of challenges.


Registration Processes On Mcash

As a seller, make your way to your bank since all banks are in partnership. There you will be issued an 8 digit number that will serve as your seller’s code. This code is what to give to your customers when they want to make payment.

As a user, simply dial *402# and follow the prompt for your registration. You may also visit your bank if you encounter any challenges while you’re trying to register.


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Transaction Charges

For every transaction that are less than N10,000, you will be charged N20 as a buyer. Transaction above N10,000, N50 will be charged from the seller’s account while N20 is charged from the buyer’s account. Transactions are not allowed to be more than N50,000 on the mCash platform.


mcash App

To get the mcash app, kindly navigate to your mobile app store and search for mcash. Ensure you verify and see that its Nigerian mcash before installing in on your device. Launch the app and get registered on the platform.



How To Make Payment

After negotiations and you’re willing to pay for the goods with your mcash platform. Simply follow the steps below;

  1. Simply dial *402*SellersCode*Amount#

Seller’s code is the 8 digit number of the seller.

  1. Choose the bank you will like to use for the payment especially when you use multiple banks. Almost everyone do.
  2. Choose the account number.
  3. Input your preset Passcode or PIN
  4. Lastly, you will get a confirmation message.
  5. The last of the stage is that both the buyer and seller will get a flash screen message as well as alert from their respective banks.


In the case of disagreement of payment received or not. The Seller may dial *402*1*Sellercode# to view the last 5 successful transactions. The seller may also check a particular transaction by dialing  *402*1*Sellercode*Transaction Ref#.

If the transaction becomes successful at a later time, you may contact your bank to make complaints. It will take about 24hrs to get it fixed.

With mcash, your buying experience becomes easier without the need to carry cash around.


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