Tuesday, May 3, 2011

Mobile phones set to replace ATM cards

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BY PATRICK KAGENDA

Stanbic Bank is seeking Bank of Uganda’s approval to introduce a new service that will enable its customers use mobile phones to withdraw cash from Automated Teller Machines (ATMs). “Once the Bank of Uganda gives approval of the product, we shall roll it out,” a source from the country’s largest commercial bank said.

To withdraw cash using a mobile phone, you will need to log onto Stanbic`s mobile phone banking menu and select the banking option. You then

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