CBZ launches in-store ATMs

The ATMs, which are branded with CBZ and Spark ATM System logos, were launched at Food Lovers Market (Honey Dew Farm) on Wednesday evening.
The partnership will see the strategic deployment of Ezycash ATMs by Spark ATM System Zimbabwe in retail, petroleum and hospitality locations nationwide.

In addition, Spark ATM System Zimbabwe will also supply and install all relevant signage and handle all communications, maintenance, trading, spares, 24-hour monitoring and supply consumables at no cost to the merchant.
CBZ is offering a reliable financial infrastructure needed to run the ATMs.

The Ezycash ATMs accept all cards on the ZimSwitch platform as well as local and international Visa cards courtesy of the CBZ Visa principal membership.
In addition, the machines will be loaded with Euro card, Mastercard and Visa (EMV)-certified software to ensure security and reduce incidents of fraud.

A total of six Ezycash ATMs have been installed at several retail and petroleum service stations in Harare while more than 300 ATMs are planned for installation nationwide within 24 months.
Some of the merchants that are already on board include ZUVA, Total, Engen, Spar Frachise Stores, Food Lovers’ Market and Fruit and Veg City.

Speaking at the launch, CBZ Bank Limited managing director Mr Peter Zimunya said that their decision to roll out the in-store ATMs was influenced by the need to meet the public’s need for convenient cash access as well as assist merchants, some of whom are CBZ clients, to grow their business.

“The presence of an in-store ATM has the potential to add tremendous value to a business. Retailers will benefit by driving additional feet through the door resulting in
extra purchases from impulse buying, as well as improved customer loyalty as a result of the convenient and safe service provided under a one-stop shop set-up.

“Furthermore, bank charges for the business are reduced as the cash generated through sales can be channelled into the ATM and back into the business’ bank account.

“To keep costs down such as cash-in-transit fees, the merchants replenish cash in the ATM and the cash withdrawn is electronically credited back into the merchants’ account at the end of the day.

“In essence, the merchants are recycling their own cash in-store minus the cash-in-transit costs which we all know can be prohibitive,” he said.
Mr Zimunya added that through the rolling out of the ATMs, CBZ was aiming to increase its presence in the rural areas as well as attracting the participation of traders and people operating outside the banking sector.

“CBZ Bank aims to increase the ease of access to cash for all Zimbabweans, especially in rural locations where informal trade is heavily dependent on cash-only purchases,” he said.
Spark ATM System Zimbabwe managing director Mr Gary Taylor said there has been great interest in the ATMs in the country with numerous leading retailers signing up.

“If you have not yet placed your order, the first and second batches have already been taken up. We are now looking at the third batch,” he said.
Mr Taylor said apart from increasing customer walk-in, merchants who sign on for the ATMs will benefit financially from a rebate per withdrawal, which will add to their bottom line.

Spark ATM Systems South Africa managing director Mr Marc Sternberg said that they were elated to be in Zimbabwe through their local subsidiary and were keen to build on their success in South Africa where they have deployed over 2 000 convenience ATMs.
“We have pre-sales of over 100 sites across the major retail and petroleum chains and backed by a massive marketing campaign, I am proud
to say that we are finally ready for the big rollout where we aim to deploy over 300 ATMs in the next 24 months, almost doubling the total number of ATMs in Zimbabwe,” he said.