SANTO DOMINGO. - Banco Popular Dominicano announced that its CASH Code functionality, which allows cash withdrawals without the use of a card, is now available at its Popular Sub-agent network with affiliated businesses throughout the country.
This innovation allows customers to generate a withdrawal code from the Popular App and use it to withdraw cash at any member merchant of the Popular Subagent network, without the need for a card or physical contact.
This expansion of the service reflects the bank's strategic focus on offering innovative, secure and practical solutions that promote financial inclusion.
Inclusion platform
The Popular Sub-Agent network expands access to basic banking services to areas where there are no branches, especially to unbanked or underbanked individuals.
By using local businesses as service points, they facilitate transactions such as deposits, loan payments, and credit card transactions, often with longer and more flexible hours than a branch. Now, with cash withdrawals, their mission to be a platform for inclusion is further strengthened.
The Popular Subagent network has national reach and is present in all 32 provinces of the country and in 127 of its 158 municipalities.
Cash digitization:
The CASH Code functionality is activated through the Popular App, where the customer selects the withdrawal amount and generates a temporary code with a limited validity period. This code can be used at affiliated establishments, allowing for quick withdrawals near their location.
Withdrawals and deposits together account for 78% of transactions at Popular Sub-agents. These are followed by bill payments, mobile phone top-ups, and credit card payments.
As for the businesses that make up this network, pharmacies lead with about a quarter, followed by grocery stores and supermarkets.
