Old Mutual embraces cashless transaction to combat covid-19 pandemic

As one way of helping government’s effort in the fight against Coronavirus spread in the country, Old Mutual Malawi, one of the leading insurance companies in the country has embarked on use of cashless transaction among its customers to control the spread of COVID-19.

The move will see Old Mutual Malawi customers paying for essential services offered to them through mobile payments or through internet banking. The move is aimed at reducing the number of customers visiting Old Mutual offices countrywide.

Old Mutual Malawi Marketing and Corporate Affairs Manager Patience Chatsika confirmed of the development in a statement released on April 21, 2020 made available to Faceofmalawi.

“On March 19, the World Health Organization released a statement flagging banknotes and coins as possible channel in the spread of the Corona Virus and therefore recommended businesses and consumers to shift towards cashless transactions to help fighting the spread.

“As a responsible business, in our efforts to encourage social distancing as a measure of prevention measure and in line with Reserve Bank of Malawi measures to promote mobile payments and internet banking in Malawi, we have accelerated our capabilities in digital platforms to help limit walk-in customers to our branches and hand-to-hand exchange of physical currency respectively,” said Chatsika.

She added: “The outbreak of COVID-19 is a major disruption and we would like to reassure our customers that we remain resilient and offer digital technology and services to ensure that business runs as usual and that we keep delivering exceptional experiences to our customers.”

According to Chatsika, all retail products such as Premiums, Greenlife premiums, Top up Unit Trust, customers can pay through TNM Mpamba (*444#) and Airtel Money(*211#)

While corporate services such as pensions and group life assurance, Private Wealth Management Account and Old Mutual Investment Group Money Market Investment, customers are can to pay for these services through internet banking or direct banking.

“As an essential service, our branches remain open should there be a lockdown,” she said.

Old Mutual has also introduced WhatsApp Line 0886 463 399 and toll-free line 329 ( Accessible for both Airtel and TNM Customers ) for customers to use.

“Apart from the existing main channel of Electronic Funds Transfer we have also included Direct Payment to mobile phones to ensure our customers have access to their benefits. Our turn-around time remains constant for all our products. Which includes 48 Hours for all funeral covers including on Timba Funeral Plan, Timba Plus and for corporate clients who have funeral as one of their benefits,” added Chatsika.

Malawi has so far recorded 36 cases of Corona virus with three deaths.