After launching the geo app payment earlier this month, FNB has now upgraded its banking app and added e-wallet.
This means FNB’s customers can easily send money from the app to any mobile phone. Funds are transferred instantly and the recipient receives an SMS indicating that the funds have been sent to their cellphone once money is sent to the eWallet from the FNB App.
The recipient can then access the cash immediately at FNB ATMs, buy prepaid airtime or electricity, send money to another cellphone, purchase or get cash at selected retailers and make once off payments.
FNB says their mobile application has transacted over R4 million since July 2011, and added over 170,000 users.
eWallet has also seen its services transact over R1 billion since its launch in October 2009.
FNB expects the two applications to spur the growth of mobile money.
Yolande van Wyk, CEO of eWallet Solutions is confident of the new partnership. She said: “Allowing sending money to eWallet from the FNB App is a natural progression in providing added convenience for customers, who use a range of devices and channels. We expect it to continue to drive the popularity we have seen through other channels such as online and cellphone banking.”
FNB has been toying with the idea of partnering with eWallet. Early in January, FNB patnered with eWallet to allow customers to pay for goods and services from selected stores in South Africa.
Just this month, FNB launched a geo-payment app to help users transact with people and establishments near them.
