ATMs for an African country

SwitchAssociates, a new marketing integrated electronic payment network that allows for the transfer of money over various channels, including cards, mobiles and internet, is to be launched by SBTS Group (SL) Ltd, leading software services and solutions provider in Sierra Leone.

The network will help financial institutions to better serve their customers in getting access to cash access points through the multiple ATM and merchant locations (Electronic Funds Transfer at Point of Sale) on the Switch Associates Network in Sierra Leone.

The system will enable financial transactions and settlements with electronic cards between banks and other institutions such as hotels, supermarkets, gas stations, ATMs etc.

"SwitchAssociates will give you access to your money anywhere the system is available in the country," states Evelyn Lewis, CEO of SBTS Group (SL) and president of the Sierra Leone ICT companies Association (SLICTA).

Cards usage is expected to reduce corruption rate in the country that is taking place on the score of holding cash.

100 ATMs under a well-structured supply arrangement are planned to be introduced by SBTS Group (SL) into Sierra Leone.

To make the product popular amid the population, significant efforts should be made to educate the consumers.

"Even though the convenience, the cost-saving or other factors of the cards will attract some consumers, it will take a lot of consumer education to get this product into the market," Lewis asserted.

The cost of electronic cards is not revealed yet, but the prices are told to be reasonable.