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March 18, 2016updated 04 Apr 2017 3:59pm

Sberbank Kazakhstan, OpenWay introduce cardless cash withdrawal service

Sberbank Kazakhstan and OpenWay have launched cardless cash withdrawal service at over 900 Sberbank ATMs across Kazakhstan.

By Verdict Staff

Sberbank Kazakhstan and OpenWay have launched cardless cash withdrawal service at over 900 Sberbank ATMs across Kazakhstan.

The new service, which has been implemented on OpenWay’s WAY4 payment platform, is scheduled through Sberbank Online, an online banking service.

The cash by code functionality is designed by OpenWay, a provider of software solutions for bank card issuing and acquiring, payment processing and omni-channel services, alongside a third party integration firm.

In a statement, OpenWay said that to make a cardless withdrawal, customers need to enter a secret code at the ATM. WAY4 cash by code generates a 2-part code – the first part is received via Sberbank Online and the second part through an SMS message. 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.

Sberbank Kazakhstan deputy CEO retail Andrei Timchenko said: "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."

OpenWay deputy director of business development Dmitry Dovgal said: "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."

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