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NAIROBI Cheap Air Jordan Shoes , Aug. 4 (Xinhua) -- The end of Automated Teller Machines(ATM), the much-loved cash dispensing gadgets, looms in Kenya, withbanks gradually withdrawing them from the market.


A number of banks in the East African nation are quietly pullingthe machines down and asking customers to use mobile phones andagents as they seek to cut costs.


With increased usage of mobile money, it was just a matter oftime before the machines that for several years were all-the-ragefaced a bleak future.


Kenyans transact on mobile money close to 3 billion U.S. dollarsa month, the figure having risen over the years.


The huge volumes have made banks to have no choice but linktheir systems with those of telecoms, which offer mobile moneyservices.


The result is that an increasing number of Kenyans have embracedmobile banking thus staying away from the ATM machines located atshopping malls and market centres.


Further Cheap Air Jordan Youth , the introduction of a law to cap interest rates eatinginto banks' profit margins has made it almost an urgency for thefinancial institutions to cut costs.


Besides laying off staff, closing branches and reducing thenumber of ATM machines, Kenyan banks have embraced agency banking,including by placing agents within their premises.


The strategy to use agents has not only helped banks in the EastAfrican nation to cut costs by employing less tellers, they haveaided in decongesting their banking halls.


There are more than 40,000 bank agents across Kenya, accordingto the Central Bank.


They carry out basic banking services such as transactingdeposits and withdrawals Cheap Air Jordan Mens , payment of bills, fund transfers, accountand loan application form issuance.


With the rise of agents and mobile banking use, ATMs have littlechance of survival in the East African nation, banks haverealized.


Equity Bank, Kenya's biggest bank by customer numbers, onWednesday acknowledged that ATMs have no future in their newbusiness mode.


The bank announced the closure of 11 ATM lobbies across thecountry as it shifted customers to alternative channels in acost-cutting strategy.


Chief executive James Mwangi said that agency and mobile bankinghave little capital requirements therefore offer best returns onbusiness unlike ATMs that need upfront investments that includebuying the machines and leasing space.


"We conducted a survey and found that most customers preferself-service digital banking and have a higher preference forconvenience in payment platforms and access to loans Cheap Air Jordan Womens ," saidMwangi.


Other banks have not been as open in terms of divesting fromATMs, but they are closing the machines stationed at malls, theirbranches and petrol stations, pushing people to mobile banking andagents.


"I am a believer of getting money from the ATM but for the firsttime, I was forced to use an agent because I found the machine at amall I go had been blocked. It could not take my card, and uponasking the guard, he told me the bank had blocked it and was in theprocess of removing it from there Cheap Air Jordan Wholeale ," Moses Karimi, a resident ofKitengela on the outskirts of Nairobi said Friday.