NMBZ pushes for plastic money economy

HARARE - NMBZ flagship arm, NMB Bank, has introduced a mobile application and other technologically-driven measures aimed at promoting the realisation of a cashless economy in Zimbabwe.

The bank’s marketing manager Lindiwe Thebethebe said the introduction of modern technology was rendering cash payments and visits to banks largely unnecessary.

“In many countries, these cashless means of making payments are the norm. They are more convenient and safer than carrying cash,” she said.

This also comes at a time when the country is currently experiencing a biting cash crunch and this gives an extra impetus to NMB’s efforts to promote a cashless society.

The bank has accelerated its deployment of point of sale machines to supermarkets and other retail outlets.

The shortage of cash has increased the use that people are making of debit cards at point of sale terminals.

However, NMB believes this, together with Internet banking transfers and mobile app payments, should be the normal means of paying for goods and services in a modern society.

The financial institution’s mobile banking app, NMBMobile, enables customers with smartphones or tablets to carry out various banking transactions on the go.

Banking transfers and bill payments can be done easily, using the mobile app, which can be downloaded from Google Play Store or Apple’s App Store.

Balance enquiries and a mini statement can be obtained from wherever one is.

Those who have used a mobile banking app to pay their DStv subscription or to pay utility bills or make bank transfers know how convenient this is.

There is no need to go to a payment point or join queues to make payments or to purchase pre-paid electricity coupons or mobile phone airtime.

Internet banking also offers convenience. Customers can keep track of payments and keep their bank records up to date by accessing their account on the Internet. They can view their bank balance and bank statement and make payments through bank transfers to third parties.

Utilising Internet banking, a mobile app and a debit card makes managing one’s finances and making payments easier than ever before.

Analysts say an enormous amount of time can be saved through utilising Internet banking at home or in the office and a mobile app from wherever one may be.

Comments (1)

We recently wrote an article: "How To Resist Conditioning For The Cashless Society" which is essential reading in order to make a more informed decision about this development. If you google the title it will come up on the first entry. Warm regards

End Time Survivors - 6 August 2016

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