Windhoek-In an effort to offer customers greater convenience, Nedbank Namibia has introduced an innovative service called “Cashout”. The service allows for immediate access to cash at till point at all Pick n Pay outlets countrywide, when shop purchases are effected through a Poin-of-Sale (POS) device.
Besides saving a trip to an ATM, the “Cashout” service is a secure, user-friendly and an instant option, which makes shopping and withdrawing cash one-stop service for Nedbank cardholders.
To qualify for this unique service offering, clients have to make at least one purchase at Pick n Pay, as the option to receive cash back is built into the checkout process – when cardholders swipe or dip their card at an electronic cash register.
Nedbank is committed to offering its clients relevant, cost-effective solutions that will suit their ever-changing fast-paced lifestyles. Leveraging mobile banking technology and building on existing networks, Nedbank will increase accessibility to its clients through this offering.
According to Nedbank Manager for Card Operations, Ryno Snyman, it was important for the bank to explore secure card spending options for its valued clients, protecting them from potential card fraud.
“As you can imagine this is another step in bringing convenience to our clients by increasing their access to cash withdrawals significantly throughout the country. This is another way we are looking at breaking down traditional boundaries between people and banking, by bringing a service close to them which is more convenient, and aiding our own efforts to make branchless banking possible,” says Snyman.
Pick n Pay stores throughout Windhoek are activated for this function, while outlets in the rest of the county will be activated in due course. The “Cashout” function is currently limited to Nedbank Namibia account holders, who transact with their green Nedbank debit cards. The green Card is usually issued forvsavings accounts in particular, but also serves as an interim solution for current account clients waiting for the issuing of their embossed Gold card.
Currently, developments are well underway to include Gold cards with further roll-out of the “Cashout” functionality.
Today globally, the ‘Cashout’ function is a common practice at grocery stores, service stations, pharmacies and many other retail outlets.