November 18 (SeeNews) - Estonia-based fintech company IuteCredit will introduce its cardless ATM service in Moldova and plans to install such ATMs in Bosnia and Herzegovina, Albania and North Macedonia as well, The Baltic Times reported.
IuteCredit is expanding its loan disbursement capacity by creating a network of ATMs across the region, The Baltic Times quoted the co-founder and chief commercial officer of the company, Allar Niinepuu, as saying last week.
"In addition to the cardless ATM, we also came out with the MyIute app in Moldova, where customers can apply for a loan quickly, conveniently and contactlessly, and receive a loan application confirmation in just seconds. Both the ATM network and the app allow us to offer new services and increase revenue," Niinepuu added.
Cardless ATMs have been developed in such a way that a plastic card is no longer needed and money can be withdrawn with a one-time mobile code, Tarmo Sild, CEO of IuteCredit Europe, was quoted as saying in the media report.
Tallinn-headquartered IuteCredit is a microcredit and fintech company offering unsecured consumer loans with maturities between 1 and 36 months and car-secured loans with a maturity of up to 60 months. It is offering installment loans, in which the principal, interest and other fees must be repaid monthly according to a mutually agreed schedule.
The company operates in Bulgaria, Bosnia, Moldova, Albania and North Macedonia.