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USSD also has its limitations. The customer experience is not as smooth nor does it offer the same security capabilities as STK or mobile internet. Further, USSD sessions can be dropped, potentially raising costs and harming customer trust. Despite these and other challenges, the majority of leading MFS providers rely on USSD, including many MNOs. Large deployments that rely primarily on USSD include bKash in Bangladesh, WING in Cambodia, EasyPaisa in Pakistan, ZAAD in Somaliland, M-PESA and Tigo in Tanzania, and EcoCash in Zimbabwe.

"Basic and feature phone technologies have revolutionised how people in emerging markets interact, as stated in our 2018 report on Mobile Technology for the SDGs: Reaching Further with Low Tech. Despite growing smartphone penetration on the continent and the growing popularity of mobile apps, low tech continues to play a significant role in many emerging markets. Notably, nine in 10 mobile money transactions in Sub-Saharan Africa still flow through USSD (Unstructured Supplementary Service Data). Specifically, USSD has proved to be a useful tool in dealing with the fallout of the COVID-19 pandemic."

"Jelil also is quoted in the report revealing how the CBN's plan to add the USSD functionality to the wallet opens the door for non-account holders to use the CBDC. According to one financial specialist and blogger, USSD may be the best available technology that can be used to deliver mobile financial services to low-income customers."

The Central Bank of Nigeria Governor, Godwin Emefiele, has reportedly said that Nigerians will be able to transact on eNaira central bank digital currency (CBDC) wallets through the Unstructured Supplementary Service Data (USSD) code on mobile phones. Nigerians will only have to dial *997# from their phones to carry out transactions on their phones.

The Central Bank of Nigeria reportedly plans to introduce the unstructured supplementary service data (USSD) code to its eNaira central bank digital currency (CBDC) platform to ensure people without smartphones could still transact on it.

"Crunchfish Digital Cash is all about offline payments. Payers should not have to worry whether they are online or not. Payments should work regardless of banking services are down or lack of internet connectivity. This new version extends the use of Crunchfish Digital Cash even more as it becomes possible to pay anywhere using telecom connectivity, and to anyone on a domestic payment scheme. Although internet may not be present to connect online, often the telecom network is available to make a call or send an SMS."