Fina Bank Kenya has joined the PesaPoint ATM network, thereby opening up the Bank’s ATMs for use by card holders of more than 30 banks who are PesaPoint partners in Kenya.
Fina Bank becomes the sixth Kenyan bank to join the PesaPoint InterConnect Network which inter-links ATMs from different banks into one network, lowering the cost of transactions for services.
“Through this partnership, our ATMs have achieved the convergence of card payments and mobile money as any M-Pesa account holder can now perform a private mobile money withdrawal from our ATMs. Our goal remains to ensure that all banked card holders and mobile money users get convenient access to their money anywhere,” said Fina Bank’s MD Rajesh Kapoor.
Paynet Group CEO, Bernard Matthewman said that usage of ATMs for mobile money transactions had grown tremendously in the last two years. “Use of self service mobile banking at the PesaPoint branded ATMs, such as M-PESA ATM Withdrawal and Transfer from bank account to M-Pesa continue to record immense growth as customers increasingly seek convenience, safety and privacy in transactions especially for relatively high value transactions,” he said.
When Central Bank of Kenya‘s gives approval for the acquisition of Fina Bank by Nigeria’s GT Bank, the partnership with PesaPoint will create the first partnership for GT Bank in Kenya.
The partnership with PesaPoint will drive up Fina Bank’s non-interest revenue by expanding the self-service financial services at the bank’s ATMs.
Customers from more than 30 of the 42 banks and over 17 Million Safaricom customers in Kenya already use any ATM offering PesaPoint services.
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