Ecobank Begins Cardless Cash Withdrawal Service

By Modupe Gbadeyanka

In order to make cash withdrawal easier for its customers, Ecobank Nigeria has introduced a cardless cash withdrawal system call Xpress Cash.

Xpress Cash is a mobile phone that allows customers to withdraw cash from any Ecobank ATM using e-tokens generated from the Ecobank Mobile app.

These e-tokens can also be redeemed at agent locations within any of Ecobank’s 33 territories across middle Africa. Additionally, customers can send e-tokens to third parties via SMS, email or social media.

Speaking on this development, Ecobank Group Executive for Consumer Banking, Mr Patrick Akinwuntan, noted that, “Ecobank is known across Africa for leveraging the mobile phone to deliver instant bank accounts, transfers and payments to our customers.

“We are taking this to another level by giving our customers the opportunity to withdraw cash on our ATMs using their phones.

“What this means is that your phone is your access to cash. It is your bank in your pocket. That’s powerful. That’s freedom. That’s inclusion for all.”

On his part, the Group CEO of the lender, Mr Ade Ayeyemi noted that, “We have developed this fast, convenient and innovative mobile banking solution –cardless Xpress Cash at our ATMs and agencies to embed our digital platforms within the lifestyle of our customers and improve the uptake of digital financial solutions by both banked and unbanked in Africa.”

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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