New ATM technology starts tomorrow
UGANDANS holding Automatic Teller Machine (ATM) cards will soon be able to walk to any ATM machine to withdraw and deposit money regardless of their bankers, after the launch of the national inter-bank switch today.
By Cyprian Musoke
UGANDANS holding Automatic Teller Machine (ATM) cards will soon be able to walk to any ATM machine to withdraw and deposit money regardless of their bankers, after the launch of the national inter-bank switch today.
The switch, developed by Bankom, enables participating banks to share ATMs and point of sale devices (POS).
Bank of Uganda chief tumusiime Mutebile is expected to launch the switch tomorrow at the Sheraton Hotel, Kampala.
In a statement yesterday, Bankom said a number of banks had already joined.
“Of all the banks that have joined, Nile Bank and dfcu Bank will be the first to enjoy its operation having been the quickest to complete technical connectivity,†Bankom said.
Customers of participating banks will be able to use any ATM and POS on the inter-bank switch irrespective of which banks own the machine.
“Additional banks are now closing discussions on ensuring they don’t miss out on being a part of the national inter-bank switch and being able to capitalise on its value to them,†the statement said.
The switch uses technology powered by Euronet Worldwide, a global leader in inter-bank switching and ATM outsourced management.
Ends
UGANDANS holding Automatic Teller Machine (ATM) cards will soon be able to walk to any ATM machine to withdraw and deposit money regardless of their bankers, after the launch of the national inter-bank switch today.
The switch, developed by Bankom, enables participating banks to share ATMs and point of sale devices (POS).
Bank of Uganda chief tumusiime Mutebile is expected to launch the switch tomorrow at the Sheraton Hotel, Kampala.
In a statement yesterday, Bankom said a number of banks had already joined.
“Of all the banks that have joined, Nile Bank and dfcu Bank will be the first to enjoy its operation having been the quickest to complete technical connectivity,†Bankom said.
Customers of participating banks will be able to use any ATM and POS on the inter-bank switch irrespective of which banks own the machine.
“Additional banks are now closing discussions on ensuring they don’t miss out on being a part of the national inter-bank switch and being able to capitalise on its value to them,†the statement said.
The switch uses technology powered by Euronet Worldwide, a global leader in inter-bank switching and ATM outsourced management.
Ends