Smart ATMs Allow Mobile Money Transactions in Zimbabwe

Thursday, February 19, 2015

Smart cash machines installed by Steward Bank, which is controlled by Zimbabwe’s Econet Wireless, will allow mobile money users to make cardless transactions and airtime top-ups for account holders with other banks.

On Wednesday the company confirmed that the smart ATMs will allow users to make mobile money transactions for no additional charge other than that charged by agents.

“We are offering this service (mobile money cash-outs from Steward Bank ATMs) for no additional charge. The charges are the same as those charged by agents,” said Japhet Aritho, the head of EcoCash.

Lance Mambondiani, the chief executive officer of Steward Bank, said his bank was geared to platforms that enable customers, even those of rival banks, to undertake “digital financial transactions such as EcoCash and cyber banking” in Steward Bank branches.

Another official at Steward Bank said it was now also possible to “buy airtime from any Steward Bank ATM”. Those intending to purchase airtime from the smart ATMs would, however, need to have cash cards linked to MasterCard and Zimswitch and they can utilise the cash machines to get automatic airtime-tops.

“All these packages and platforms are meant to enhance the convenience for our customers. They will be able to cash-out from their mobile money wallets and also purchase airtime at any time of the day no matter who they bank with,” Mambondiani told ITWeb Africa.

Source: ITWeb Africa (link opens in a new window)

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digital payments, mobile banking, mobile money