Malawi’s digital financial service providers, TNM Mpamba Ltd and First Capital Bank (FCB), have launched a “transact and win” promotion to reward shared customers for their loyalty on digital transactions.
Speaking during the launch in Blantyre, Dingani Ngulube who is TNM Brand and Communications Manager said the joint promotion underscores the commitment that the two financial entities have towards enhancing digital transactions.
“We have organized the promotion jointly with one of our partners, FCB to emphasize that it is now possible for our shared customers to push money from their bank accounts into Mpamba wallets and vice-versa. Today’s development speaks to the current growth of TNM Mpamba as a reliable platform for integrated payments between mobile money and banks,” said Ngulube.
Ngulube said that over the years TNM Mpamba Ltd has integrated with other financial institutions in support of the financial inclusion drive.
“TNM Mpamba Ltd, continues to move steadily on a growth path and part of the growth has seen the financial services provider integrate its mobile money platform with other financial institutions. The goal is to apply mobile money services technology in the deepening of financial inclusion in Malawi,” he said.
He hailed the partnership saying it has harnessed digital banking with efficiencies in the payment ecosystem.
“At the onset of our forays into digital banking, TNM Mpamba Ltd was privileged to have First Capital Bank as one of our pioneering partners. Through the integration, our shared customers are now able to withdraw Mpamba electronic money using the FCB auto teller machines and also initiate transactions between Mpamba wallet and their respective bank accounts,” said Ngulube.
In his remarks, FCB Head of Transaction Banking & Marketing, Ewen Hiwa hailed the agreement between the two institutions saying it provides convenience.
“Mpamba is one of our key partners when it comes to our digital bouquet. As already alluded, First Capital Bank pioneered mobile money cardless withdrawals with Mpamba. A service that allows mobile money customers to withdraw e-value from any First Capital ATM.
“Together with TNM and other partners, we continue to build the eco-system in the payments space. It is against that background that today we are jointly launching the “Transact & Win” promotion to bring more awareness around these channels and the convenience that comes with them.” said Hiwa.
In the next two months, “Transact & Win” will reward the shared customers with total cash prizes of K4 million broken into K50, 000 per winner for 80 customers.
To enter into the promotion Mpamba customers need to cash out using FCB auto teller machines. Secondly, customers should move money between their Mpamba wallets and bank accounts.