In South Africa, cardless ATM withdrawals via mobile phone
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The virtual ink had scarcely dried on our story about South Africa's upcoming Mahala Free Banking Platform last week when we received word of yet another mobile banking innovation in the country. Customers of Johannesburg-based First National Bank (FNB) can now make withdrawals from an ATM without a bank card using just their mobile phone. To withdraw cash using the new capability, which was launched last month, customers simply log onto FNB's Cellphone Banking service and select the banking option. They then indicate specifics including the particular account from which they want to make a withdrawal. Once they've completed the…
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