adminSenior Business Reporter
STEWARD Bank and its sister company, EcoCash, have partnered to introduce the financial institution’s latest innovations, cardless cash-out and airtime top-up transactions on its Smart Automated Teller Machines (ATMs).
The latest innovations by the bank were unveiled in Harare on Wednesday during the official opening of the institution’s flagship branch at Eastgate Shopping Mall.
The banking institution said the ZimSwitch and MasterCard enabled Steward Bank Smart ATMs stand apart from other ATMs in the market due to their convergence with Econet services.
“In addition to standard ATM banking, EcoCash customers, regardless of whether they bank with Steward Bank or not, are now able to perform cardless transactions such as cashing out, directly from their EcoCash wallets at the new Smart ATMs.
“This provides EcoCash customers with the 24/7 convenience enabling them to cash out at any time, any day,” said the bank in a statement.
At the launch, guests were given an opportunity to experience the functionality of the ATM, which allows the bank’s card holders to buy Econet airtime.
The airtime is loaded directly to the buyer’s mobile phone without the need for a top-up voucher, providing 24 hours accessibility.
In addition, in an attempt to decongest Steward Bank and Econet branches, the banking institution has introduced an EcoCash Express Teller at all its branches, which is solely dedicated to EcoCash transactions.
“With the increasing take-up of the EcoCash payroll offering, this will be a welcome convenience to Small and Medium Enterprises (SMEs) and large companies that use EcoCash to pay their employees,” it said.
The bank said it was reconfiguring its branch network to provide total support to EcoCash agents, merchants and cash-in and cash-out customers throughout the country.
Steward Bank, which was one of the country’s largest card issuers through the EcoCash Debit card, also announced that it recently completed MasterCard acquiring certification on its ATMs.
“This means that going forward, Steward Bank ATMs will accept all MasterCard cards, including the EcoCash Debit card to perform transactions such as withdrawals and balance inquiries,” it said.
A total of 36 Steward Bank Smart ATMs have simultaneously been rolled out across the country.
The new services serve as an example of the Econet Wireless Group leveraging on its broad yet complementary technologies for the purpose of providing a seamless customer experience.
This, the bank said, forms part of a broader strategy to provide multiple channels to consumers that it has rolled out since its rebranding in 2013.
Steward Bank acting chief executive officer Lance Mambondiani said: “Our position is unique in our ability to draw on technologies and synergies within the group. “The ultimate beneficiary is the customer because what they receive is a faster, more reliable, more affordable and, crucially, more accessible set of services.”
Head of EcoCash Japhet Aritho, who was also at the launch, reiterated the company’s commitment to providing innovative solutions to enhance the EcoCash experience at Steward Bank ATMs, well after most agents would have closed shop.
It is believed that the opening of the branch has been received with enthusiasm by customers who value the bank’s focus on delivering convenience, wherever possible. “The new branch boasts a clean and minimalistic look and feel and, above all, houses a number of innovations intended to make banking easier and faster for its account holders.
“With four Smart ATMs and free Wi-Fi within the branch, customers can now make use of online and cyber banking on site, rather than have to wait to be seen by a teller.”
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