TNM Mpamba, First Capital Bank in Digital Money Transfer Partnership

Written by  Davie Umar

In quest to allow its customers merge their bank accounts with Mpamba, Mobile phone service provider TNM has partnered First Capital Bank formerly First Merchant Bank - FMB to allow its customers merge their First Capital Bank Account with TNM Mpamba.


According to TNM Head of Marketing Sobhuza Ngwenya, the new partnership makes financial inclusion a reality by empowering shared customers with access to mobile and digital banking tools to deliver convenience and speed of transactions.

He said this is a modern technology which will allow both TNM and First Capital Bank customers transact anytime without any problems.

The partnership will enable TNM Mpamba customers to transact with their First Capital Bank accounts by either pushing money to the bank or pushing money to Mpamba wallets.

It will also enable First Capital Bank customers to transact with any Mpamba wallet using their accounts. The shared customers will also gain access to transaction with other banks that are already in partnership with TNM Mpamba.

The Partnership will see shared customers of the two brands enjoying the best of both worlds in terms of the integrations with mobile and digital banking technology like enabling transactions at odd hours when conventional Mpamba street agents and outlets have closed.

“Mobile is the new money, and TNM’s Mpamba is the home-grown mobile money transfer and investment platform that is leading in financial solutions innovation in Malawi the worldwide evolution from cash-based to cashless societies and the increasing need for simplified and advanced payment solutions,” Ngwenya said.

He added saying financial inclusion can only be meaningful if it solves the basic payment problems that people are faced with on daily basis.

In his remarks First Capital Bank Head of IT Srijit Ramakrishnan said the bank is delighted to be in this partnership as it is in line with its quest to extend its digital platforms to all bankable communities in the country thereby fulfilling the financial inclusion agenda.

“At First Capital Bank, we strongly believe in developing partnerships that enable both our customers and non-customers take advantage of the technological advancements we have made through provision of various platforms that allow people to do transactions around the clock. This partnership with TNM is a testimony to that, and we are positive this will create lots of excitement to customers,” said Ramakrishnan.

TNM Mpamba last year also entered into partnership with First Capital Bank that empowers other non- First Capital Bank and TNM customers to access the bank’s digital banking platforms.

The partnership establishes First Capital Bank as one of the channels for the cash-out service for TNM mobile money, Mpamba. Through any First Capital Bank ATM, Mpamba customers are able to withdraw money from their Mpamba wallets regardless of whether they are First Capital Bank or non- First Capital Bank customers.

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