National Bank of Malawi (NBM) has launched an innovation where customers will be withdrawing cash on its Automated Teller Machines (ATM) without a card.

NBM Head of Cards and e-Banking, William Kaunda, outlined that customers will generate a one time pin on the bank’s Mo626 Digital Plus mobile application and send it to a phone number that will be queried by the ATM during the transaction.

According to Kaunda, the innovation is among several digital products that the bank is rolling out in 2020. ““

We introduced the contactless payment service in January this year, then proceeded to reveal our upgraded internet banking service- Banknet 360, which is gaining traction with most of our retail and corporate customers.” he said. The bank has been touted for its cashless transaction initiatives, like the NBM visa card and Mo626 products is gaining ground across the country. NBM is one of the pioneers of the Point of Sale (POS) machine usage.