Cellphone Banking drives mobile data growth

Len_Pienaar_CEO_FNB_mCommerce.jpgMobile network operators in South Africa have seen a significant evolution and growth in mobile data usage over the past two years driven primarily by services such as mobile Internet and other multimedia services.

In recognition of this demand, First National Bank (FNB) now allows customers to conveniently purchase prepaid data and SMS bundles directly from their bank accounts using Cellphone Banking, Online Banking or selected FNB ATMs. This gives customers convenient access to these products 24 hours a day, seven days a week, even on public holidays and with the bundles loaded automatically to a cellphone account.

FNB is the first financial institution to offer a mobile network operator data and SMS bundles through its electronic distribution network and plans to enhance this offering by adding other operator’s bundles in the near future.

Since the launch of this product in 2007, it has proven to be very popular with customers and has in the last 12 months shown over 400% year-on-year sales growth.

A report published by Pyramid Research says that mobile data will account for 29 percent of the global mobile service revenue in 2012, up from 19 percent in 2007. Clearly, the mobile data opportunity is
soaring: the 2007 mobile data revenue was more than double what it was in 2004.

“The soaring growth of bundles through our channels illustrates FNB’s role as an innovative driver of the industry growth as a whole”, says Len Pienaar, the CEO of MCommerce.