The total value of customer transactions through Absa’s cardless ATM offering, CashSend, has exceeded half a billion rand.

Introduced in late 2008, CashSend enables Absa individual customers – who do not have bank accounts – to send money from it cellphone banking platform, any of our 8 963 ATMs or via Internet banking channels to anyone in South Africa, both banked and unbanked.
The receiver only needs to enter a PIN (which the bank SMSs to the customer’s cellphone), along with a secret code to withdraw cash at an Absa ATM. All this is done without an ATM Card or a bank account, but by simply pressing the “CashSend” button on any Absa ATM screen.
Absa says CashSend transactions have surged to approximately 100 000 each month.
Though the service was initially aimed at entry-level banking customers, CashSend is evolving into a holistic payment solution catering for ever more sophisticated needs. In this regard, Absa has now also introduced CashSend Plus which is aimed at the business sector.
“We have enhanced CashSend for uptake in the business market,” says Absa Retail Bank chief executive Gavin Opperman. “Cash Send Plus will enable small businesses and corporate clients to make bulk payments to many recipients, such as payments to casual or temporary workers.”
Opperman believes there are clear benefits for both the business and the customer using CashSend Plus: the employer does not need to keep large sums of cash on business premises and beneficiaries can withdraw the cash when it is required.
Currently, about 42% of CashSend money is sent via ATMs, 23% from Internet banking and 36% using cellphone banking. Importantly, money can be sent and received at any time of the day and night – so transactions are not limited to a bank branch’s opening hours.