KongaPay excites market with ATM card-less withdrawal, USSD features

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E-commerce giant, Konga has recorded another feat with the roll-out of card-less withdrawal and unstructured supplementary service data (USSD) features on its payment platform, KongaPay.

KongaPay excites market with ATM card-less withdrawal, USSD features - Brand Spur

KongaPay is a secured payment platform licensed by the Central Bank of Nigeria (CBN). It is imbued with features that allow customers to hold funds in escrow, complete peer to peer transfers, purchase digital goods, pay for Digital Satellite Television (DStv) subscription and airtime at discounted rates.

Explaining how the card-less withdrawal feature works, KongaPay Vice President, Joshua Fatoye, stated that the feature allows any account holder to withdraw cash from any Automated Teller Machine (ATM) nationwide, without using any debit card.

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“The card-less feature works this way. All the customers are required to do is to sign up on Kongapay.com and ensure that their KongaPay wallet is funded using any of the funding options. Then, the account holders need to log into their wallets via web or app. Then, click on cash out from the wallet, and next on cardless cash out feature and input the amount and the beneficiary mobile number,’’ stated Fatoye.

‘‘By default, the customer’s mobile number will be on display. The customers can, however, input any valid mobile number of any recipient they wish to send money to. The beauty of the process is that the mobile number does not have to be registered on KongaPay wallet.

‘’Next, the customers will then input their personal identification numbers (PINs) and One True Pairing (OTPs) to complete the transaction. Next, the customer who initiates the transaction will receive a message thus: “Your pay code request was successful”, and the beneficiary will get a short message service (SMS) notification with the withdrawal code details,” Fatoye said.

On how the recipient could process the cash at the ATM, Fatoye said: “The recipient should go to any ATM, tap on any of the keys on the keypad to get the screen active and select card-less withdrawal/pay code cash out, depending on the bank’s ATM. Next, s/he is expected to input the 8 to 14-digit withdrawal code, earlier sent via SMS, and input the cash out PIN (sent via SMS). Lastly, the customer will then input the amount (in multiples of one thousands) and wait to collect the cash.”

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On the USSD feature, Fatoye said KongaPay launched the USSD channel as an alternative to the web and mobile channels. Further, he disclosed that the USSD channel will boost financial inclusion for millions of unreached and under-served Nigerians.

Read Also:  WePay E-Commerce Platform Debuts In Nigeria

“This means that users who do not have access to smart devices or live in areas where there is no data coverage can still carry out their financial services on the go by dialling the KongaPay USSD code, which is *574#.” 

Meanwhile, Fatoye explained that KongaPay has the best competitive pricing in the fintech industry, even as he revealed that the platform offers a discount to customers who patronise it.

“On KongaPay, we offer very competitive pricing to our customers. For instance, on KongaPay, customers can transfer funds to any bank account in Nigeria at a price much lower than the industry pricing. We also offer our customers discounts when purchasing airtime. We even go as far as absorbing the convenience fee costs and also offer a discount to our customers when they pay bills on KongaPay. 

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‘‘What this implies is that our customers do not need to pay the convenience fee while paying for DSTV subscription. Also, they do not need to pay the full amount for the subscription as KongaPay will offer them a further discount,” Fatoye said.

Equally important, the KongaPay Vice-President added that customers can do a lot with their KongaPay wallet, including peer to peer transfers (transfers to a KongaPay wallet as well as any bank account in Nigeria) as well as airtime purchase at discounted prices.

“Account holders can pay for their DStv subscription as well as other bills on the platform without a convenience fee and still enjoy a discount on their payments. Customers can also use their wallets as a payment tool online on e-commerce platforms like Konga.com, Konga Travel as well as at physical stores. With KongaPay, there are no limits to access to financial services. Now customers can have their wallet in hand and enjoy the comfort of banking with their phone,” Fatoye said.

To register for the platform, customers are expected to download KongaPay app on Google Play Store or sign up on www.kongapay.com to create an account.

To fund KongaPay wallet, customers need to link their bank card to top-up or transfer from an internet banking app to KongaPay account. Customers can also fund their KongaPay account at any KongaPay designated agent nationwide or through a KongaPay wallet transfer from a third party.

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KongaPay excites market with ATM card-less withdrawal, USSD features - Brand SpurKongaPay excites market with ATM card-less withdrawal, USSD features - Brand Spur

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KongaPay excites market with ATM card-less withdrawal, USSD features - Brand SpurKongaPay excites market with ATM card-less withdrawal, USSD features - Brand Spur

Latest News

Asia Pacific Rayon Raises US$300m from National and International Affiliated Banks to Expand Production Capacity

  • Continued capital expenditure aims to boost production and support the recovery of Indonesian economy
  • Loan agreements aligned with Indonesian Government's strategy to drive investment growth in 2021
  • APR is a member of the RGE group of companies


JAKARTA, INDONESIA - Media OutReach - 12 April 2021 - Asia Pacific Rayon (APR), the largest integrated rayon fiber producer in Indonesia, today announced that it has secured a syndicated loan facility of Rp 4.5 trillion (US$300 million) with national and international affiliated banks. The funding will be used to support continued capital investment in the company's production facilities at Pangkalan Kerinci, Riau Province, Sumatra.

APR is vertically integrated through its supply chain, from renewable fiber plantations to high-value textile development. It commenced operations in 2019 and was formally inaugurated by President Jokowi Widodo in February 2020. APR plans to increase its production capacity over the coming year to capture the strong growth potential of viscose staple fiber (VSF), strengthening its market position in Indonesia and in export markets across the region. APR is a member of the RGE group of companies. Founded by Sukanto Tanoto, RGE manages a group of resource-based manufacturing companies with global operations.

The syndicated loan participating banks are PT Bank Rakyat Indonesia (Persero) Tbk, PT Bank Central Asia Tbk, PT Bank Pan Indonesia Tbk, PT Bank Pembangunan Daerah Jawa Barat, PT Bank Woori Saudara Indonesia 1906 Tbk and PT Bank KEB Hana Indonesia

The joint mandated lead arrangers and bookrunners for the syndicated loan are PT Bank Rakyat Indonesia (Persero) Tbk, PT Bank Central Asia Tbk, and PT BANK Pan Indonesia Tbk.

Basrie Kamba, Director, Asia Pacific Rayon, said: "This funding will be used to support continued investment in our operations in Kerinci. Rayon fiber, or viscose, is a textile raw material derived from sustainably managed plantations. As rayon is both renewable and biodegradable, it supports the trend towards sustainable fashion in Indonesia and in other markets around the world."

APR's planned expansion is aligned with the Indonesian Government's strategy to increase investment and boost employment to support the recovery of the country's economy and address the continued impact of the COVID-19 pandemic. Following the passing into law of the Omnibus Bill in October last year to streamline investment and stimulate job creation, President Widodo said last month that investment would be the key factor in achieving 5% economic growth in 2021.

"This loan facility and our continued investment in our operations are evidence of the growth potential of the viscose rayon sector in Indonesia and around the world. We are committed to supporting the Indonesian Government's efforts to improve the investment climate in export-oriented manufacturing industries, and its efforts to create upstream jobs in plantations and the processing of raw materials, and downstream opportunities in textile factories and related businesses," said Basrie.

Hari Setiawan, Executive Vice President of PT Bank Rakyat Indonesia (Persero) Tbk said : "As Representative of JMLAB and all lenders, I hope this collaboration will be useful to support the growth and development of PT Asia Pacific Rayon in increasing production and operations and also supporting the recovery of Indonesia's export growth."

"Support from BCA and other Banks reflect our confidence in APR, and as our contribution to promote a sustainable and environment friendly industry. We hope this cooperation will tighten our relationship as well," said Susiana Santoso, Executive Vice President of PT Bank Central Asia Tbk.


About Asia Pacific Rayon

Asia Pacific Rayon is the first fully integrated viscose rayon producer in Asia. Located in Pangkalan Kerinci, Riau, the company uses the latest production technology to produce high-quality rayon to meet textile needs. APR is committed to becoming a leading viscose rayon producer with the principles of sustainability, transparency and operational efficiency, serves the interests of the community and the country, and provides value to customers. APR is part of the RGE (Royal Golden Eagle) group of resource-based manufacturing companies. Sustainability is fundamental to APR. The APR Sustainability Policy, updated in September 2020, include additional commitments on pulp sourcing and clean manufacturing.


About RGE

RGE Pte Ltd manages a group of resource-based manufacturing companies with global operations. Our work ranges from the upstream, comprising sustainable resource development and harvesting, to downstream, where our companies create diverse value-added products for the global market. Our commitment to sustainable development underpins our operations, as we strive towards what is good for the community, good for the country, good for climate, good for customer, and good for company. RGE was founded in 1973. The assets held by RGE companies today exceed US$20 billion. With more than 60,000 employees, we have operations in Indonesia, China, Brazil, Spain and Canada and continue to expand to engage newer markets and communities. www.rgei.com

KongaPay excites market with ATM card-less withdrawal, USSD features - Brand Spur
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