News

Slimline cashless ATM launches in Africa

August 28, 2013

South Africa's First National Bank has rolled out a Slimline ATM that delivers digital banking services to remote retail locations where business volume does not support a conventional ATM, a news release from the FI said.

The Slimline ATMs do not dispense cash, but instead issue a slip that can be exchanged for cash at the point of sale. The retailer's account is credited, lowering the risk and cost of holding cash in the shop, FNB said.

"Slimlines represent a wonderful, mutually beneficial relationship for the retailer, bank and customer," said Aziz Cassim, head of self-service channels at FNB. 

Cassim said the new machine approximates online banking with PIN and image verification. He said that FNB expects transaction volumes to escalate sharply in comparison with use of the bank's old Mini ATMs, which lacked online banking functionality.

FNB Slimline offers a large touch screen with an integrated camera, a card reader for CHIP and PIN enabled cards with a numeric keypad.

"We sourced components from our established ATM suppliers and included comprehensive software upgrades to enable account interaction such as transfers and payments," Cassim said. "In the process we created a unique ATM designed specifically for emerging market and lower income needs."

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