Mobile money customers can now withdraw cash through Automated Teller Machines (ATMs), thanks to technology advancement. The technology excludes mobile phone money agents and enable customers to make transactions twenty four hours a day, which is a big relief as most money agents open shops late and close earlier.

Through a partnership between Exim Bank and Selcom Tanzania, a customer now through the latter software, Cashpoint ATM network, can withdraw cash transacted through TigoPesa, M-Pesa, Airtel Money, and Halopesa. Exim’s Chief Finance Officer (CFO) Selemani Ponda said to begin with the bank will put 100 such ATMs across the country in the first year and another 200 in the next year.

From AllAfrica. Story by Betram Lengama.

“… We want to reiterate our commitment to do our best to create an environment where usage of financial services can be easily accessible,” Mr Ponda said yesterday during the official launch of the cardless cash withdrawal services. Apart from saving costs, clients are endured extra agony since mobile phones money agents are consistently faced with inadequate liquidity levels.

Read more at AllAfrica.