Users of the M-Pesa service in Kenya may now withdraw money from Diamond Trust Bank ATMs through a partnership between the bank, ATM operator PesaPoint and telecommunication operator Safaricom, according to Diamond Trust.
Launched in partnership with Vodafone Group PLC in March 2007, Safaricom’s M-Pesa is a branchless mobile-banking service that enables consumers to deposit and withdraw funds from a network that includes airtime resellers and retail outlets that serve as banking agents. The service enables users to transfer funds to other users and nonusers, pay bills and purchase airtime.
This Diamond Trust deal will allow users of M-Pesa to make cardless withdrawals at any of the bank’s 29 ATMs deployed throughout the country and buy airtime for their phones.
Users need to first choose the ATM withdrawal option on their phone's M-Pesa menu and enter the PesaPoint agent code of 555-555. They will receive a six-digit authorization code. At the ATM, users choose the M-Pesa option and enter the code and their mobile number to access the cash.
Safaricom previously partnered with Kenya-based Equity Bank to launch a mobile funds-transfer service called M-Kesho (see story)
M-Kesho enables participants to transfer funds between special M-Pesa accounts at Equity via their M-Pesa-enabled mobile handsets. They also may access their funds in those special accounts at any of Equity’s 650 ATMs.
As of March, M-Pesa served some 9.5 million subscribers and had handled person-to-person funds transfers valued at more than 405 billion Kenyan shillings (US$5 billion or 4 billion euros) since its launch.