R25 billion has been transferred via eWallet in the last year

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FNB’s eWallet service has proved to be a rather useful service and we’re not the only ones that think so.

The bank has reported that, by the end of June 2019, eWallet as many as 46 million transfers had taken place with a total value of R25 billion. This represents a 19 percent increase year-on-year.

“The record volumes and value of money sent by consumers using eWallet is a great testament of how simple, convenient and secure the offering is. Customers are constantly seeking instant gratification with ease of sending money and eWallet is proving to be the solution for this need,” says FNB’s consumer division’s chief executive officer, Christoph Nieuwoudt.

As for FNB’s mobile digital account, eWallet eXtra, it is growing steadily.

To date 140 000 customers are using eWallet eXtra daily.

“The success of eWallet eXtra shows that anyone who owns a mobile phone can be banked in minutes without having to visit a branch. This showcases our ability to adapt to the ever-changing consumer landscape to cater for the needs of customers through platform innovation,” says Nieuwoudt.

The bank says it owes much of the success of eWallet and eWallet eXtra to the rise in mobile penetration. Smart technology has also played a role in shaping how people approach solutions. The CEO says that customers are always on the look out for safe and convenient solutions.

Brendyn Lotz

Brendyn Lotz

Brendyn Lotz writes news, reviews, and opinion pieces for Hypertext. His interests include SMEs, innovation on the African continent, cybersecurity, blockchain, games, geek culture and YouTube.