Bank Transfer

    PAYMENT

    An electronic movement of funds from one Nigerian bank account to another, typically via NIBSS Instant Payment.

    See also

    USSD Payment

    A payment initiated by dialing a short code on a mobile phone, allowing transfers without a smartphone or internet connection.

    Virtual Account

    A unique bank account number issued to a user or transaction for the sole purpose of receiving funds that are then routed to a master account.