Africa News
Boost for cardless cash withdrawals
Ukheshe and Paycorp have teamed up to enable cardless withdrawals at more than 4,000 Cash Express ATMs, with plans to expand across Africa
The roll-out of cardless ATMs with greater functionality is being accelerated by a partnership between fintech enablement service Ukheshe and global payments provider Paycorp. The intention is to expand the service across Africa, and globally.
ATM Solutions, a division of Paycorp, which owns and operates over 4000 Cash Express branded ATMs, has added rich embedded functionality to its fleet of ATMs, enabling customers to make cardless cash withdrawals.
“Cardless withdrawals allow customers to access cash conveniently from their mobile wallet without using a card,” says Clayton Hayward, CEO of Ukheshe. “Initiated securely in a mobile wallet such as MTN Momo or OzowMe, a transaction is completed at a Cash Express ATM using the mobile number and one-time PIN to withdraw cash.”
For both Ukheshe and Paycorp, he says, this partnership is a step closer to their core vision of a more financially inclusive world: “Our goal is to financially empower as many people as possible by improving and addressing financial inclusion within emerging markets. As a global embedded finance enabler with the focus of providing innovative digital payment solutions, we democratise digital financial services through the accessibility of disparate technologies. And this partnership is another way we are doing exactly that.”
Wayne Abramson from Paycorp says: “Our fundamental purpose is to extend financial inclusion, connecting more people to their money. Our clients span formal and informal retailers in both metro and rural environments, where we operate ATMs in the retail, hospitality and transportation sectors and provide an offering to the under-serviced. We are passionate about providing people with convenient access to cash, even in the most remote areas, placing ATMs close to where people live, work and shop.”
Says Hayward: “It’s great to be in a partnership with a leading payments provider in not only Southern Africa, but also central and Eastern Europe and the United Kingdom. This will allow our existing clients to improve and build upon their current propositions within our Eclipse API. Together, Ukheshe and Paycorp will continue to provide secure payment solutions to customers throughout Africa with the aim to expand into other regions across the globe.”
