FNB has begun the roll-out out of non-cash dispensing ATMs with deposit capability, targeting rural areas in South Africa.<\/p>\n
These ATMs are a smaller version of the standard ATM which FNB introduced in 2013 as a way of bringing banking services directly into communities.<\/p>\n
The ATMs are placed at the door step of communities through Spaza Shops and other general retailers, especially in remote locations.<\/p>\n
The new machines are said to be easy to operate and can perform a variety of transactions such as: airtime and electricity purchases, view statements, pay traffic fines and perform card cancellations.<\/p>\n
Customers will be able to make deposits into their accounts or pay someone directly from the ATM.<\/p>\n
Cash withdrawals are conducted by way of issuing the customer with a withdrawal voucher that is presented to the retailer to release the cash and the retailer\u2019s account is credited by the bank.<\/p>\n
The model essentially integrates small businesses into the banking ecosystem as the device forms part of their business, potentially increasing foot-traffic to their stores. The devices also play an important part in the optimisation of business opportunities for small enterprises in rural areas.<\/p>\n
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