TNM Mpamba, First Capital Bank in digital money transfer partnership

TNM Plc has  extended its digital financial inclusion strides to First Capital Bank using its mobile money transfer service, Mpamba.

TNM’S Ngwenya (right) and First Capital Bank’s  Ramakrishnan: Done deal

The partnership will enable TNM Mpamba customers to transact with their First Capital Bank accounts by either pushing money to the bank or pushing money to Mpamba wallets.

It will also enable First Capital Bank customers to transact with any Mpamba wallet using their accounts. The shared customers will also gain access to transaction with other banks that are already in partnership with TNM Mpamba

TNM Head of Marketing Sobhuza Ngwenya said the new partnership makes financial inclusion a reality by empowering shared customers with access to mobile and digital banking tools to deliver convenience and speed of transactions.

Ngwenya said shared customers of the two brands will enjoy the best of both worlds in terms of the integrations with mobile and digital banking technology.

Enabling transactions at odd hours when conventional Mpamba street agents and outlets have retired is an added advantage of the new ingenuity.

“Mobile is the new money, and TNM’s Mpamba is the home-grown mobile money transfer and investment platform that is leading in financial solutions innovation in Malawi the worldwide evolution from cash-based to cashless societies and the increasing need for simplified and advanced payment solutions,” Ngwenya said.

Ngwenya said financial inclusion can only be meaningful if it solves the basic payment problems that people are faced with on daily basis. This is why TNM Plc through its mobile money service, Mpamba is taking he lead in applying telecoms technology to provide solutions in payments needs for Malawians.

“The goal is to make financial inclusion real. With TNM Mpamba, different types of payments and transactions are coming on line. As a service, Mpamba has transcended the realms of basic money and airtime transfer to become a trusted payments solution for life’s most critical transactional needs,” he said  

In his remarks First Capital Bank Head of IT Srijit Ramakrishnan said the bank is delighted to be in this partnership as it is in line with its quest to extendits digital platforms to all bankable communities in the country thereby fulfilling the financial inclusion agenda. 

“At First Capital Bank, we strongly believe in developing partnerships that enable bothour customers and non-customers take advantage of the technological advancements we have made through provision of various platforms that allow people to do transactions around the clock. This partnership with TNM is a testimony to that, and we are positive this will create lots of excitement to customers,” said Ramakrishnan.

TNM Mpamba last year also entered into partnership with First Capital Bank that empowers other non- First Capital Bank and TNM customers to access the bank’s digital banking platforms.

The partnership establishes First Capital Bank as one of the channels for the cash-out service for TNM mobile money, Mpamba. Through any First Capital Bank ATM, Mpamba customers are able to withdraw money from their Mpamba wallets regardless of whether they are FirstCapital Bank or non- FirstCapital Bank customers.

To access the service, customers wishing to push from their Mpamba wallets are required to dial *444#, choose 5 (financial services) and follow the proceeding menu prompts. Customers wishing to push from their bank accounts must be registered on First Capital Bank Mobile platform. Then they can dial *1111#, inputPin, select 3 (-e-wallet), Select 1 (to Mpamba).

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3 years ago

So you have another Indian who uses the pretext to invest and suck the nation dry of its resources. Nyasa please wake up and save the nation. Please do not delete my comment coz you will be doing disservice to to my nation and my Malawian ppl. I’m an Malawian Asian and love my country to bits. Long live Malawi

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