26th January 2017 – Telenor banka is the first bank to offer mCash service in the Serbian market, allowing the clients to make ATM transactions using a mobile phone instead of a card.
Starting from 23rd January 2016, one does not need a bank card to make deposits or withdrawals on Telenor banka ATMs. mCash service allows the clients to access account and make ATM transactions by scanning a code from the mobile phone screen.
“When developing a new product, we always start with a problem that needs to be solved. Forgotten or stolen wallet creates situations in which we need money the most, and mCash option makes withdrawals in such situations quite simple. Use of mobile devices to conduct banking transactions is the general direction we are heading, and mCash is an innovative option to that effect”, said Miloš Polovina, Acting Marketing Director of Telenor banka.
mCash service is simply activated, by selecting the option before logging on into the mobile phone application. After entering the PIN, the client shall receive a bar code that can be scanned by ATM scanner or manually entered in order to access the current account and initiate the banking transaction.
In order to use the mCash option, the client will need an active current account opened with Telenor banka and residence in Serbia.