Kenya: Cardless ATM withdrawals for yuCash users

28 Mar 2011

NAIROBI: yu, the mobile phone brand of Essar Telecom Kenya, in partnership with Equity Bank have launched a cardless ATM withdrawal service for yuCash users to access their funds at any Equity Bank ATM countrywide.

yuCash customers may now access their funds without necessarily going to yuCash outlets to make withdrawals. yuCash users are required to initiate the withdrawal transaction from their phones upon which they get an authorisation code that they can use at any Equity Bank ATMs without the need for an ATM card or ownership of an Equity Bank account.

Service accessible from any network

Commenting on the latest developments, yu's country manager Madhur Taneja said: "yuCash presents a significant step towards delivering universal access to financial services through innovative mobile banking and payments services. Our partnerships with institutions that have a countrywide footprint are steps towards ensuring that we reach out to every consumer so that they are able to experience and enjoy our value added services."

The yuCash money transfer service is differentiated from the other money transfer services offered in the market as it is accessible to any mobile subscriber on any network. The user has a free history check of up to 30 transactions.

yuCash recently partnered with Uchumi Supermarkets which allows the chain store to carry out yuCash registrations and cash in cash out transactions in all their outlets.