EBank ties in Engen Quick shops
Chief Operating Officer of EBank Gerald Riedel and Engen Namibia Managing Director Nangula Hamunyela, sealing the agreement that will see Ebank services rolled out at Engen service stations. (Photograph by Melba Chipepo).
Engen Namibia and EBank this week signed a working agreement adding basic banking to the petroleum giant’s current fuel, vehicle service and convenience offerings.
The partnership allows for Engen to offer the EBank Cash Out Services as well as the EBank pay at till functionality to all EBank and Engen customers, through Engen’s network of Quick Shop outlets. Chief Operating Officer of Ebank, Gerald Riedel said the partnership forms part of EBank’s vision to deliver cost-effective, accessible and user-centric banking for all Namibians.
Customers will now be able to go to any Engen Quick Shop and pay for fuel directly from their EBank account using only their mobile phone, and also pay at the till for goods bought at the Quick Shop. This reduces the risk for those who are adverse to carry cash in their wallets.
But for those occasions where cash is actually needed, Ebank provides their Cash Out service, also available at all Engen Quick shops.
“The Cash Out service allows EBank clients to withdraw cash from any of the participating Engen outlets. The withdrawal will be done directly from the till and will reflect in real-time on the client’s EBank account,” said Jerry Elago, EBank spokesperson. The withdrawal is also effected by cellphone instruction. “This payment function is especially useful to Engen patrons as it offers the most convenient payment solution in the market for fuel purchases following the termination of petrol card purchases,” said Riedel.
EBank operates, what it terms as branchless banking through a network of retail partners, such as Engen. Elago said the retail partners create a footprint much larger than any traditional bank can offer through its branches. “In addition, we leverage technology to enable our clients to access their bank account anywhere and anytime, through their cellphone, tablet or personal computer,” he said.
The bank offers two accounts – the Easy account and Smart account which are optional to individuals with different bank requirements and charges.
The ‘Easy’ account can be created by individuals using their cellphones, while the Smart account can only be created by contacting the EBank office.
Riedel emphasized that EBank’s agreement with Engen will be implemented in phases, starting with the Engen fuel stations that have an Engen Quick shop. This strategy allows both parties enough time to complete the first phases of the agreement before rolling it out to the entire Engen service station network.
EBank’s current network partners include Agra, Cymot and Woermann Brock. Bank transactions are conducted through the use of mobile short code or USSD technology, cellphone optimised ‘mobi-sites’ or through internet banking. To open either an EBank Easy or Smart account, clients need to be over 16 years of age and in possession of their own cellphone or more advanced mobile communication device.
