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South Africa: FNB Unveils Cashless ATMs
Source: Google Alert
Source Date: Thursday, September 12, 2013
Focus: ICT for MDGs
Country: South Africa
Created: Sep 12, 2013

So far the bank has replaced its old mini-ATMs with over 960 Slimline ATMs across the country, and installations have started in Namibia, Botswana, Zambia, Swaziland and Tanzania.
The FNB Slimline presents a large touch-screen with an integrated camera used to capture images of the user, a card reader for chip and PIN-enabled cards, and a keypad. Instead of holding cash like a conventional ATM, clients are presented with a slip which they can then cash at a retailer's till.
Head of self-service channels at FNB, Aziz Cassim, says the Slimline was specifically designed for the emerging market and lower income needs. Cassim notes the Finscope consumer survey of 2012 showed people in the lowest income groups spent nearly 100% more time accessing an ATM than people in middle and upper income groups. "The survey showed that poorer customers took 47 minutes to access an ATM, while better-off customers were able to do this in 23 minutes."
He says the development of the Slimline included comprehensive software upgrades to enable account interaction such as transfers and payments. "Slimline also has great potential across all our market segments from personal to business and commercial due to its deep digital banking ability."
Rimmington says apart from improving ATM access, the Slimline offers benefits to the retailer too. "The customer gets a slip from the Slimline. They can then go to the cashier and get their money there, which is a benefit for the shop owner in that it lowers the amount of cash held on the premises."
Cassim expects transaction volumes to escalate sharply over previous volumes on the mini-ATMs.

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