NAIROBI, Kenya, Jan 30 – Absa Bank Kenya has upgraded its mobile banking platform, Timiza, allowing subscribers to withdraw funds from any of the bank’s ATMs across the country.
Absa Bank’s Head of Digital Channels Steven Omamo said the upgrade is in line with the bank’s commitment to continue investing in digitally-led innovative solutions that are relevant to evolving consumer needs.
“The ATM withdrawal facility is a real game changer as it will enable both our retail and business customers to withdraw cash securely and conveniently from the convenience of their mobile phones,” said Omamo.
To access the service, Timiza customers will be required to login onto the Timiza App or use the designated USSD code and select the ATM withdrawal option.
A unique voucher code (One Time Password) will instantly be sent to customers via a text message on their registered mobile number to authorise the withdrawal.
The service attracts the same charges as the current ATM debit card withdrawal fees.
“We are intent on providing simpler, safer, and easier access to financial services for our Timiza customers and this marks another important milestone for us. We remain committed to our customers as we accelerate our efforts to deepen financial inclusion through digitisation in keeping with Absa’s purpose of bringing possibilities to life,” added Omamo.
Timiza, which officially launched in March 2018, offers mobile loans of up to Sh150,000 with a 30-day repayment period.
Funds are transferred directly to customers’ Timiza wallets, which they can access via Mpesa or an Absa ATM.
In addition, Timiza customers can conveniently complete day-to-day and occasional tasks within Timiza, including moving cash from one wallet to another and making payments at merchant outlets through the Safaricom Pay bills platform.