An initiative that can only be described as a major vote of
confidence in the domestic retail sector, has seen banking industry giant, Nedbank Namibia, partner with Model Pick n Pay (part of the Ohlthaver
& List Group of companies), to bring banking to the very edge of
convenience, with its groundbreaking, first-for-Namibia, CashBack initiative.
CashBack enables Nedbank Namibia customers to
withdraw up to N$ 1 500.00 in cash, using a Nedbank debit card and a valid
PIN (personal identification number) entry, even after the daily ATM withdrawal
limit is exceeded, with the same affordability as a transaction from an ATM, at Pick n Pay cash registers (tills) throughout Namibia.
At the launch of the initiative in August 2013, Nedbank
Namibia deputy managing director, Lionel Matthews, emphasised at the core a drive
to take banking services to customers, with a focus on accessibility and
convenience, via innovative products like the CashBack facility, now available
at Pick n Pay retail outlets countrywide. He also mentioned that a significant
focus area for Nedbank in Namibia is to provide potential and existing clients
with innovative banking solutions.
(Photograph: Lionel Matthews, Nedbank Namibia Deputy MD, left)
The partnership for this initiative is ingenious, to say the
least. The Pick n Pay group has the largest footprint, in terms of retail,
distribution and warehousing presence, in Namibia and outlets in every town
accessible by road. Nedbank customers are now able to pay for their grocery goods and
withdraw cash at a single point and location, their favourite and closest Pick
n Pay outlet. In addition, Nedbank customers no longer have to queue at ATMs
(automatic teller machines) in order to make use of retail services, like
shopping, or avoid accessing a retailer
altogether should an ATM be out of order.
Nedbank Namibia’s CashBack facility is a first for banking
in Namibia but has been operating successfully in South Africa for almost 7
years, with convenience kiosks offering a limited range of financial services. The
concerns Namibian customers and regular ATM users have regarding security around
the latter, are adequately addressed with secure in-store cash withdrawal
facilitated by the Pick n Pay cash registers. Industry experts have noted that
since the launch of the initiative in South Africa, in-store cash withdrawals
increased significantly and are considered by customers as more secure than ATM
withdrawals, especially if suspicious characters are spotted in the vicinity of
the ATM (card-skimming, fraudsters, mugging) or if the ATM was visibly tampered
with.
(Photograph: Henry Feris, Managing Director, Model Pick n Pay)
On the day of the launch, Henry Feris, managing director of
Model Pick n Pay, mentioned the importance of saving time with the Nedbank
CashBack facility, which allows for customers to shop and withdraw cash
in-store, at the same time. As part of its purpose encapsulated in the
statement ‘Creating a Future, Enhancing Life’, Model Pick n Pay wholeheartedly
welcomed the CashBack initiative and thanked customers for their continued
support.
A purchase of a nominal amount must be made at Pick n Pay
stores to activate the CashBack functionality.
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