Sberbank Kazakhstan and OpenWay launch cardless cash withdrawal service

Source: Sberbank Kazakhstan

Customers of Sberbank Kazakhstan can now withdraw cash at more than 900 ATMs without a bankcard.

The service was implemented quickly and cost-effectively on the WAY4 payment platform. The new service is scheduled via Sberbank Online, one of the most in-demand online banking services in Kazakhstan.

The new Cash by Code functionality was developed by OpenWay together with a third party integration company. OpenWay is a recognised leader in software for bankcard issuing and acquiring, payment processing, omni-channel banking, financial switching, and mobile payments.

 Sberbank Kazakhstan, whose services are used by 20% of the country's economically active population, now offers customers the ability to withdraw cash without a card at any of 900 Sberbank ATMs across Kazakhstan. To make a cardless withdrawal, the customer simply enters a secret code at the ATM.

Despite its simplicity, WAY4 Cash by Code guarantees a high level of security. Customers specify the withdrawal amount and a cell phone number via the Sberbank Online system. A 2-part code is generated. The customer receives the first part via Sberbank Online and the second part via an SMS message.

To withdraw the funds, the customer enters both parts of the code and the withdrawal amount at any Sberbank ATM. As an additional security measure, the codes are only valid for 24 hours and the funds return to the sender's account, if they are not collected within that time. Customers can withdraw from 1,000 to 100,000 tenge ($3-3,000).

Andrei Timchenko, Deputy CEO – Retail at Sberbank Kazakhstan: "Cash by Code gives our customers hassle-free access to their funds, even if they lose their card or forget it at home. We really focus on optimising retail banking processes -- and developing and implementing innovative IT solutions plays a key role in this."

“The Sberbank Kazakhstan team is always open to innovation. Together with OpenWay, the bank is implementing services on the WAY4 platform that enable it to increase loyalty among existing customers but also to attract new customers,” comments Dmitry Dovgal, deputy director of business development at OpenWay.

The WAY4 Cash By Code solution is already implemented successfully in various countries in Africa, Southeast Europe and Asia.

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