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CASHBACK: Nedbank Cash Withdrawals @ Pick n Pay Outlets

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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