Often, branchless banking involves creating third-party bank outposts (such as a retail store) and implementing mobile banking platforms. The retailer may act as a “human ATM,” and branchless banking customers can make banking transactions via their mobile phones and then deposit or withdraw cash through the retailer.

How does branchless banking operate?

Branchless banking custom- ers use cell phones to transmit instructions to transfer money from one person's account to another. They use the airtime dealer to exchange cash for electronic value in a bank account or a virtual e-money account and to change electronic value back into cash.

What is the function of branchless banking?

Branchless banking allows you to offer banking services in unbanked rural areas outside of the traditional bank branches. Besides this, agents have been effectively bridging the gap between the banks and the unbanked masses in rural areas.