FNB Zambia launches Cash@Till and eWallet on POS enhancements as the Bank drives innovation and convenience
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Mulongo Shimbela as Acting Permanent Secretary (PS) Ministry of Technology and Science
By DERRICK SINJELA and HENRY CHUNZA
First National Bank Zambia (FNB Zambia) has launched the Cash@Till and eWallet on Point-of-Sale (POS) solutions as the Bank drives innovation and convenience for customers through its Merchant Services offering.
Cash@Till is an ability to withdraw cash as customers make card purchases on an FNB Point-of-Sale.
This is available at participating Merchant stores nationwide, with a limit of drawing cash of up to ZMW 5,000 per transaction.
Cash@Till transactions can only be done with the purchase option while eWallet on POS is an enhancement that will enable customers to do more with their eWallet balances, allowing customers to shop and pay bills.
FNB Zambia was the first Bank to introduce wallet services allowing account and non-account holders to receive funds using a mobile number.
Traditionally, wallets only enable you access to cash through a CashPlus Agent or ATM as well as talk time purchase.
Speaking during the Tuesday, 13th September 2022 launch, at Mulungushi International Conference Center MICC Kenneth Kaunda New Wing, in Lusaka, FNB Zambia Chief Executive Officer, Bydon Longwe said that the bank continues to invest in technology with a focus on driving innovative banking and transaction solutions tailored to its diverse customers’ needs.
“With Cash@Till and eWallet on POS, we are excited to introduce product enhancements that will revolutionize how customers transact, particularly for this digitally savvy generation. Now and more so in the future, our customers will expect more than the ability to shop or pay for goods and services with cash and cards, seeking to go to service providers who give more in value and convenience. At FNB, we remain resolute in intuitively providing innovative banking and transaction solutions for the future,” Mr. Longwe said.
FNB Zambia Chief Executive Officer, Bydon Longwe
Currently, service providers can only accept card payments with Point-of-Sale devices. Cash@Till and eWallet on POS will make merchants more competitive whilst delivering an enhanced customer experience and significantly reducing cash handling risks.
Participating merchants will also be able to earn rebates where possible, which will be an additional source of income.
“These products being launched also contribute to financial inclusion as customers will be able to do more with their eWallet balances given that, particularly eWallet on POS does not require one to have a bank account to make payments.
FNB is built on the precept of real help and innovation which will continue to be reflected in how we service our customers. These enhancements transform every POS terminal into a “miniature ATM” giving customers access to some of our services available only at an actual FNB ATM machine. The future of payments will be anchored on convenience and the ability to use alternative channels and platforms for payments through secure channels like the ones offered at FNB Zambia”, Longwe added.
FNB Zambia is an award-winning organization recently named Best Digital Bank Zambia 2022 by International Business Magazine for the second year running, adding credence to the Bank’s commitment to providing the best-in-class digital banking solutions.
Mulongo Shimbela as Acting Permanent Secretary (PS) Ministry of Technology and Science and FNB Zambia Chief Executive Officer, Bydon Longwe (CENTRE) during the Tuesday, 13th September 2022 launch, at Mulungushi International Conference Center MICC Kenneth Kaunda New Wing, in Lusaka.
