While launching the program in Kampala today, Wednesday, MTN’s marketing manager Ernst Fonternel said that this was being brought aboard to dispel most commonly raised concerns by customers that some small scale Mobile money operators are not working 24/7, or services being unavailable during power cuts and system breakdowns.
“Customers will now be able to use a four-digit code generated by their mobile money accounts to withdraw any amounts of money from Interswitch ATMs across the country,” Fonternel noted.
Interswitch is a company that runs ATM machines for now 13 commercial banks in Uganda, and operates over 100 of these machines across the country, serving about 1 million card holders.
How The Process Works
One will dial *165#, select ‘ATM withdraw’, then select 1 to get the 4-digit TIN code, enter their mobile phone number and receive a message carrying the TIN code.
Once at the ATM, one will press any key, [to get it from sleep mode], then enter the amount to be withdrawn, enter the TIN Code and Press OK for the machine to dispense the cash.
For security purposes, Fonternel said, the TIN code may be asked not more than 10 minutes before reaching the ATM, otherwise it will expire.
“The reason we came up with this initiative is because Uganda is still a cash economy, and we want to ensure that people have access to their cash at any point in time, hence we deemed it necessary to get rid of any of the inconveniences that may be posed by depending only on Mobile Money services,” he added.
The service does not require that a person must have an account in any of Interswitch partner financial institutions; all they need is a mobile money account.