FNB customers performed more than 56 million transactions through Cellphone Banking valued at over R7,2 billion this year, showing their preference for this particular channel as compared to PC based banking.
“Cellphone Banking has truly come of age in SA and now more widely used than PC based banking. The high adoption rates we’ve experienced show that it’s a trusted and convenient channel for customers to perform a wide range of transactions from checking account balances to buying prepaid airtime or paying a beneficiary,” says Len Pienaar, CEO of First National Bank (FNB) eCommerce.
FNB cellphone banking services range from prepaid data, SMS bundles and LOTTO tickets purchase directly from an FNB account to purchasing LOTTO tickets to eBucks offerings and Send Money option, an instant solution for FNB customers to transfer money using a South African viable cellphone number.
In November 2009, monthly transaction volumes on FNB Cellphone Banking grew by 147% year-on-year. Following its success in South Africa, FNB implemented the same services in Zambia, Namibia, Botswana, Lesotho, Swaziland and Zambia and plans to add new services during 2010 for its cellphone banking customers.
