Over R3bn expected to be sent via eWallet this festive season

FNB Connect reduces Lifestyle Top Up package price

On Thursday, 19 December 2019, FNB announced that it anticipates a 26% increase in eWallet send during the festive season – last year, the Bank’s customers sent over R2.4bn worth of eWallet funds.

FNB Connect reduces Lifestyle Top Up package price

“Over the years, we have seen substantial growth in eWallet volumes during the festive season. eWallet provides our customers with simplicity, convenience and security when sending money. This offering has become top of mind amongst South Africans when looking for easy ways to send money,” says FNB Consumer CEO, Christoph Nieuwoudt.

For the current year, FNB’s data revealed that consumers in Gauteng are the top senders of eWallet at 47%, followed by KwaZulu-Natal at 14%, and Western Cape at 10%. Other provinces completing the top six include Eastern Cape at 9%, Limpopo, Mpumalanga and Northwest jointly coming at 5% and lastly Free-State at 4%.

“It comes as no surprise that consumers in Gauteng, KwaZulu Natal and the Western Cape are top senders of eWallet transactions. This is consistent with economic activity in these Provinces.”

“We will therefore continuously strive to improve accessibility to our banking infrastructures to ensure that all South Africans have access to our banking platforms,” adds Nieuwoudt.

“While we take this time to relax and spend time with family and friends, we encourage customers to take advantage of this convenient way to send and receive money. Whether you are sending money as a gift to a loved one or an emergency, we believe that eWallet is the best solution for customers,” concludes Nieuwoudt.

Edited by Jenna Delport

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