Cashless transactions gaining ground— National Bank of Malawi


Financial institution, National Bank of Malawi (NBM), has said cashless transaction through the banks visa card and Mo626 products is gaining ground across the country.

NBM is one of the pioneers of the Point of Sale (POS) machine usage.

The bank said this yesterday during a breakfast interaction with customers, who recently won the banks promotion, ‘shop and pay using visa card’.


The banks Head of Strategic Marketing and Corporate Affairs, Wilkins Mijiga, said customers have embraced the use of visa cards which is a welcome development.

He said the country should strive to move from using hard cash to cashless transactions.

“Cashless transactions have numerous advantages and through this promotion, we are trying to encourage our customers to use the visa card whenever they are doing their transactions,” said Mijiga.


He further said through cashless transactions, even the Central bank will reduce its expenditure in printing new banknotes.

One of the customers, Tione Makawa, said using a visa card is advantageous as it saves time.

She said with the card, she does not have to queue on auto teller machines (ATM) to withdraw money.

“Whenever, I want to go shopping, I just take my card and go straight to the shop to my shopping. This saves me a lot of time,” she said.

The promotion started on December 8 2016 and is expected to end on March 31 2017.

The grand prize of the promotion is a trip for two to Mauritius.

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