WINDHOEK – In a first for Namibia’s banking industry a commercial bank has teamed up with a major retailer to enable the bank’s clients to withdraw money at the retailer’s cashiers as they are doing their grocery shopping. Nedbank Namibia and Pick n Pay Namibia yesterday teamed up to introduce their CashBack initiative that ultimately transforms Pick n Pay’s cashiers country-wide into Nedbank Automated Teller Machines (ATMs).
The CashBack service enables Nedbank customers to withdraw cash, equal to their daily ATM limit, while paying for their groceries at any Pick n Pay store in Namibia. Said Nedbank Namibia’s Deputy Managing Director, Lionel Matthews: “The intrinsic value for our clients lies in the fact that, in an instant, banking services outside our branches are now so much closer to them, which makes banking infinitely more accessible and convenient.” Mathews added that the service has been available in neighbourng South Africa for a number of years already, meaning the technology has been tried and tested. “Security stays completely intact as the personalised identfication number (PIN) is still the key security feature when making use of the service,” noted Matthews. Also commenting on the new service, Pick n Pay Namibia’s Managing Director, Henry Feris, said the CashBack service is all about creating convenience for the store’s customers.
Nedbank clients will now be able to make use of the CashBack service even after they have exhausted their daily ATM limits and the transaction will cost them no more than any withdrawal at a Nedbank ATM. Matthews also noted that: “Our drive to take banking services to our customers, making banking accessible and convenient, and consistently offering value through the design of innovative products has certainly been enhanced extensively with the introduction of our CashBack functionality”.
Story by Edgar Brandt