MTN MoMo and FNB have expanded their partnership in Zambia with the launch of an ATM Cash Out service, unveiled in Lusaka on Wednesday.
The service allows MoMo customers to withdraw cash directly from their wallets at FNB automated teller machines, without needing a bank card or an FNB account.
It builds on an existing partnership that already lets customers transfer funds between MoMo wallets and FNB accounts, and make MoMo payments at FNB point-of-sale terminals.
The companies said the combined services would bridge the gap between mobile money and traditional banking by giving customers more choice in how they access, move and use their money.
Pafyako Malema Museba, MTN MoMo Zambia's head of strategy and business development, said the partnership showed what collaboration could achieve in building a more modern, connected and inclusive financial ecosystem.
"Our ambition is to drive financial inclusion in a way that makes a meaningful difference in the lives of Zambians," she said, adding that MTN MoMo was committed to working with financial institutions that shared its goal of accelerating Zambia's digital economy through inclusive, interoperable and customer-centred solutions.
"Financial inclusion is ultimately about ensuring that every Zambian can participate more fully in the financial ecosystem. By working together, we can remove barriers between financial platforms and give customers simpler, more flexible ways to manage their money," Museba said.
Victor Silavwe, senior manager for alternate channels at FNB Zambia, said the bank was committed to creating solutions that are simple, secure and relevant to the lives of Zambians.
"When innovation meets partnership, help changes everything. And as we continue shaping the future of banking together, remember: Next Is Now," he said.
MTN MoMo has more than five million users in Zambia, according to the operator.
The ATM Cash Out launch follows MTN MoMo Zambia's introduction of direct wallet-to-bank global transfers in January, when it became the first mobile money provider in the country to let customers send funds straight to international bank accounts in the EU, UK and Canada, as ITWeb Africa reported at the time — part of a broader push by the operator to link mobile wallets more closely with formal banking rails, both locally and internationally.
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