">
TechMoran
  • About Us
  • Deals
  • Jobs
  • Motoring
    • Money
  • Pitch Your Startup
  • Submit Your Post
  • Freelance Gigs
  • Travel
  • Men’s Corner
  • Dating
Saturday, January 23, 2021
  • Startups
  • Reviews
  • Insider
    • Obituaries
  • Business
  • Women
  • Blockchain
  • Columnists
  • Hacks & Facts
    • How To
  • Editions
    • US Edition
    • India Edition
    • MENA Edition
    • Asia Edition
    • Europe Edition
    • International Edition
No Result
View All Result
TechMoran
">
Home Business

MTN Rwanda Introduces Mobile Money ATM & Bank Integration Services

Sam Wakoba by Sam Wakoba
7 years ago
in Business
8 min read
0

Related posts

Customer Service Lessons From Leading Brands Including CarGuard’s Trevor Smith

January 21, 2021
0

Mastercard, Unilever & KCB Bank to pump over $150,000 into SMEs in Kenya via their Jaza Duka program

January 18, 2021
0

Cellulant Group CEO Ken Njoroge to step down in June

January 14, 2021
0

The Fool-Proof Strategy For Business Owners To Find The Perfect Office Space

January 13, 2021
0

MTN_Logo_onlyMTN Rwanda has partnered with KCB, RSwitch and I&M Bank to allow MTN Mobile Money subscribers transfer money between their Mobile Money and KCB bank accounts and also withdraw money from their Mobile Money wallets using I&M ATMs and other RSwitch connected ATMs, without the use of a bank card to initiate the transaction.

Below is the entire press release.

Kigali – Rwanda’s leading telecommunications provider, MTN, is pleased to announce a partnership with KCB, RSwitch and I&M Bank which aims to improve access to financial services in Rwanda.

With this partnership, MTN Mobile Money subscribers will not only be able to transfer money between their Mobile Money and KCB bank accounts, but to also withdraw money from their Mobile Money wallets using I&M ATMs and other RSwitch connected ATMs, without the use of a bank card to initiate the transaction.

Speaking at the launch, General Manager of MTN Business, Norman Munyampundu said, “MTN is constantly finding new ways of delighting customers through our Bold New Digital strategy. These services are truly unique as they cater to both the banked and the unbanked population of the entire country.”

Keza Monica, Head of Banking and Channel said that KCB’s strategy is to provide innovative ways of banking to its customers which is convenient and efficient to both the banked and unbanked.

“KCB’s partnership with MTN Mobile money is a game-changing endeavour which aims to improve lives, create jobs, spawn new enterprises, expand financial inclusion and promote a cashless economy in Rwanda. This service will enable customer to access their banking services through the Mobile money platform at their own convenience,” she continued.

To access Bank Integration services, a Mobile Money registered user will simply dial *182#, * Bank Services from the Mobile Money menu and follow the prompts. To withdraw money from an ATM the customer will first have to get a withdrawal code by dialling *182# > Banking Services > ATM and follow the prompts. The user will receive the 4-digit code by SMS which he/she will enter when making a withdrawal at the ATM.

“We are happy to partner with MTN and the Banks in providing card-less cash withdrawal services through the RSwitch Smartcash ATM network to MTN Mobile Money customers,” said RSwitch Head of Projects Catherine Ngali. “Through this milestone, ATMs within the Smartcash network will act as agents for MTN Mobile Money. This service is another step towards ‘fully functioning’ mobile wallets for MTN Mobile Money customers. We will continue to help providing the latest solutions to enhance customers’ day-to-day financial experiences. Mobile payments and card-less withdrawal provides customers with an easier, quicker and more secure way to access their money.”

When asked about the new partnership, I&M Head of IT and Transactional Banking Services, Innocent Muhizi said, “At I&M Bank, we are thrilled to yet again be partnering with a great institution in the efforts of reaching more Rwandans that have hitherto had limited access to these transaction services either by proximity or by the inevitable limitation of agency operational hours. We believe that the new services will create the much needed bridge to formal financial services while offering unmatched convenience for mobile money users. At I&M Bank, we are committed to continue championing innovation.”

With the new service the risks of physically handling money are significantly reduced by creating efficient ways of paying for goods, services and bills at any time of the day, without having to be physically present.

“Being able to access your Mobile Money through ATMs or Bank Integration services opens up a whole new portal of banking, effectively turning your mobile phone into an e-wallet with the convenience of being able to withdraw or transact money 24/7” Munyampundu concluded.

From January to June 2014, the volume of Mobile Money transactions have totalled over 87,000,000,000Rwf. MTN continues to lead Mobile Money in Rwanda with almost 1.7 million registered users since their launch in 2010.

MTN is expected to get into similar partnerships with other financial institutions in the months to come.

 

Readers 1,220

Share

  • Click to share on Telegram (Opens in new window)
  • More
  • Click to share on Tumblr (Opens in new window)
  • Click to print (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on Pinterest (Opens in new window)
  • Click to share on Reddit (Opens in new window)
  • Click to share on Pocket (Opens in new window)

Like this:

Like Loading...

Related

Tags: KCBMTNRwanda
Sam Wakoba

Sam Wakoba

Taking you on tour through Africa's tech ecosystem, one startup at a time! [email protected]

Related Posts

Business

Customer Service Lessons From Leading Brands Including CarGuard’s Trevor Smith

January 21, 2021
0
Business

Mastercard, Unilever & KCB Bank to pump over $150,000 into SMEs in Kenya via their Jaza Duka program

January 18, 2021
0
Business

Cellulant Group CEO Ken Njoroge to step down in June

January 14, 2021
0
Business

The Fool-Proof Strategy For Business Owners To Find The Perfect Office Space

January 13, 2021
0
Business

UAP Old Mutual launches digital last expense cover for as low as Ksh 50

January 13, 2021
0
Business

How to Use Podcasts and Online Information to Enhance Ventures

January 6, 2021
0
Business

Equity Group crosses the trillion-shilling balance sheet milestone

December 23, 2020
0
Business

Econet Group’s Strive Masiyiwa Appointed to Netflix Board of Directors

December 17, 2020
0

https://bit.ly/2VOxuoBhttps://bit.ly/2VOxuoBhttps://bit.ly/2VOxuoB
ADVERTISEMENT

Join our Mailing List

Loading

Recent Posts

Top 5 Skills That Modern Software Developers Need to Have

January 22, 2021

Why Bernie Sanders Is A Trending Meme

January 22, 2021

What Software Developers Need to Know About Burnout

January 22, 2021

Which Tech Companies Are Employee Owned and Why?

January 22, 2021

Free money transfer service Taptap Send launches its services to Kenya

January 22, 2021
">
">

Follow Us

">

There are many sites out there focused on blowing off some steam, from funny entertainment to thrilling experiences like playing online, in some cases online gaming could grant you the chance to win extra money. We came across rocketpot.io while browsing for a good btc casino online and it left us a very good impression with their wide variety of games and crypto offering.

Privacy & Cookies: This site uses cookies. By continuing to use this website, you agree to their use.
To find out more, including how to control cookies, see here: Cookie Policy

© 2019 Moran Media Group - All rights reserved TechMoran.

No Result
View All Result
  • Startups
  • Reviews
  • Insider
    • Obituaries
  • Business
  • Women
  • Blockchain
  • Columnists
  • Hacks & Facts
    • How To
  • Editions
    • US Edition
    • India Edition
    • MENA Edition
    • Asia Edition
    • Europe Edition
    • International Edition

© 2019 Moran Media Group - All rights reserved TechMoran.

Login to your account below

Forgotten Password? Sign Up

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
%d bloggers like this: