Timiza subscribers are set to withdraw funds from any Automated Teller Machine (ATMS) across the country.
This is after Absa Bank Kenya upgraded its mobile banking platform.
Absa Bank’s Head of Digital Channels, Steven Omamo, said the upgrade aligns with the bank’s commitment to continue investing in digitally-led innovative solutions relevant to evolving consumer needs.
“The ATM withdrawal facility is a real game changer as it will enable both our retail and business customers to withdraw cash securely and conveniently from the convenience of their mobile phones,” Omamo said.
Timiza customers must log onto the Timiza App or use the designated USSD code and select the ATM withdrawal option to access the service.
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A unique voucher code (One Time Password) will instantly be sent to customers via a text message on their registered mobile number to authorize the withdrawal.
The service attracts the exact charges as the current ATM debit card withdrawal fees.
“We are intent on providing simpler, safer, and easier access to financial services for our Timiza customers and this marks another important milestone for us. We remain committed to our customers as we accelerate our efforts to deepen financial inclusion through digitization in keeping with Absa’s purpose of bringing possibilities to life,” added Omamo.
Timiza was officially launched in Kenya in March 2018.
The mobile lending app offers mobile loans of up to Kes150,000 with a 30-day repayment period.
Funds are transferred directly to customers’ Timiza wallets, which they can access via Mpesa or an Absa ATM.
In addition, Timiza customers can conveniently complete day-to-day and occasional tasks within Timiza.
These occasional tasks include moving cash from one wallet to another and making payments through the Safaricom Pay bills platform at merchant outlets.
