CashTech News Round-Up

Cash Recycling Machines Mushroom in Bangladesh

The Dhaka Tribune reports that between March and the end of November 2020, the number of Cash Recycling Machines (CRMs) increased from 266 to 684 in an attempt to make branches less crowded and to lower costs since less cash loading and replenishment of ATMs is needed, along with reduced cash movements, sorting and handling.

An advantage for the public is that deposits are credited to their accounts in real-time.

Cardless Cash Service Comes in Oman

Customers can now withdraw cash from National Bank of Oman (NBO) ATMs without using their bank card at the ATM. Instead, customers use their NBO mobile app to enter the amount of cash required and they get a one-time number passcode sent to them by SMS for use at the ATM.