South Africa's First National Bank (FNB) has announced that its cardless cash withdrawal has reached R2 billion since the launch of the service in February 2011.
The bank's cardless withdrawal service enables customers that want to withdraw money from an ATM, but do not have a card present at that point in time.
"There is a certain level of angst that one experiences when you realise that you don't have your card with you and you need cash," said Sandi Madikiza, head of cellphone banking at FNB.
"By combining cellphone banking, which is a simple menu driven application with ATM functionality, we are able to add value to our customers' lives by giving them instant access to cash when they need it," Madikiza added.
She concluded, "As the uptake on mobile banking increases we will continue to enhance our digital banking platforms to include features that enhance the banking experience making the everyday lives of our customers easier."
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