First National Bank Lesotho (FNBL) has launched a mobile banking platform tailor-made for the Lesotho market at Lancers Inn in Maseru, on Wednesday 13 March 2019.
The Head of Retail Teboho Mhlanga said Lai Lai Cash Plus was going to solve Basotho problems in a unique way. He said there is no Fee when a customer downloads the app and opens an account with the bank. Mhlanga said there were 8 service agents who were part of the pilot project before it could be launched this week.
The app was the first of its kind in Lesotho’s Banking Sector and is designed to foster financial inclusion by bringing banking services and solutions to both business and individual customers through-out the country.
‘This is a solution that will be delivered through FNBL Business Banking customers who are typically cash heavy. It is aimed at solving their cash handling challenges by allowing individual customers to perform withdrawals from the cash at the business’s tills and deposits should they require to do so,’ says Mhlanga.
The 8 agents who are already making use of Lai Lai service are Bochabela General Café, Pioneer Auto Services, The Ultimate Public Bar, First Choice, Mago Enterprise, Thusong Maluti Distributor, Khomari Transport and SMS Supermarket. Mhlanga said there were a number of businesses that have applied to have this service at their stores.
‘Individuals are able to cash-out FNB eWallet transactions not only at ATMs, but also at Cash Plus Agents as well. The eWallet send is free to any number in Lesotho for all customers on bundled pricing and the recipient will be able to redeem the wallet for free at any Agent if Withdrawn as one amount,’ he said.
He further, added that the Bank would provide free Wi-Fi hotspot so that the customers could download the app and other services that the bank offer.