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Nedbank introduces ‘Cashout’ option for customers at Pick n Pay outlets

Nedbank introduces ‘Cashout’ option for customers at Pick n Pay outlets

Commercial bank, Nedbank Namibia has introduced an innovative service called ‘Cashout’ which allows its clients immediate access to cash at a till point at all Pick n Pay outlets in Windhoek.

The service comes especially helpful when shop purchases are effected through a Point of Sale device. Despite saving a trip to an ATM, the ‘Cashout’ service is a secure, user friendly and an instant option.

However, to qualify for this unique service offering, clients have to make at least one purchase at Pick n Pay, as the option to receive cash back is built into the checkout process – when cardholders swipe their card at an electronic cash register.

According to Nedbank Manager for Card Operations, Ryno Snyman, it was important for the bank to explore secure card spending options for its clients, protecting them from potential card fraud.

“As you can imagine this is another step in bringing convenience to our clients by increasing their access to cash withdrawals significantly throughout the country. This is another way we are looking at breaking down traditional boundaries between people and banking, by bringing a service close to them which is more convenient, and aiding our own efforts to make branchless banking possible,” said Snyman.

Pick n Pay stores throughout Windhoek are activated for this function, whilst outlets in the rest of the county will be activated in due course.

The ‘Cashout’ function is currently limited to Nedbank Namibia account holders, who transact with their green Nedbank debit cards. The green Card is usually issued for savings accounts in particular, but also serves as an interim solution for current account clients waiting for the issuing of their embossed Gold card.

Meanwhile, according to Nedbank, developments are underway to include Gold cards with further roll-outs of the ‘Cashout’ functionality.

Today globally, the service is a common practice at grocery stores, service stations, pharmacies and many other retail outlets.


 

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Donald Matthys

Donald Matthys has been part of the media fraternity since 2015. He has been working at the Namibia Economist for the past three years mainly covering business, tourism and agriculture. Donald occasionally refers to himself as a theatre maker and has staged two theatre plays so far. Follow him on twitter at @zuleitmatthys

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