MTN MoMo Zambia has partnered with FNB Zambia to introduce an ATM Cash Out service that allows customers to withdraw money directly from their MoMo wallets through FNB Zambia ATMs.

The new service does not require customers to use a bank card or maintain an FNB bank account, providing MoMo users with another way to access their funds.

The development builds on the existing partnership between MTN MoMo Zambia and FNB Zambia. Their collaboration already allows customers to transfer money between MoMo wallets and FNB bank accounts, as well as make MoMo payments through FNB point-of-sale terminals.

According to the companies, the ATM Cash Out service is designed to deepen the link between mobile money services and conventional banking by giving customers more flexibility in accessing and using their funds.

The partnership also forms part of efforts to broaden access to digital financial services across Zambia.

Pafyako Malema Museba, Head of Strategy and Business Development at MTN MoMo Zambia, said the ATM service provides customers with an additional secure and convenient channel for accessing their MoMo funds while contributing to wider financial inclusion.

Victor Silavwe, Senior Manager for Alternate Channels at FNB Zambia, said the service was developed with customers’ day-to-day financial requirements in mind.

These needs include obtaining cash for business activities, supporting family members and meeting other expenses.

With ATM Cash Out now available, customers can access three key services through the partnership: transfers between MoMo wallets and FNB bank accounts, MoMo payments at FNB point-of-sale terminals, and cash withdrawals from FNB ATMs.

The companies said they would continue developing interoperable financial solutions aimed at improving access to digital financial services for customers across Zambia.

Source: techafricanews