Contactless payments are incredibly convenient but if you’re an FNB customer you are likely well aware of this.
We say that because FNB has revealed that between June 2018 and June 2019, customers have made payments amounting to R14 billion with contactless payments.
“All our customers have contactless enabled cards, and this contributes significantly to our efforts to empower customers with convenient and safer ways to pay. Our goal is to minimise reliance on cash by ensuring that customers have access to payment options that accommodate their day to day needs,” chief executive for FNB Retail, Raj Makanjee, said in a media statement.
Over the 12 month period, over 60 million contactless payments were made. The majority of those payments – 46 million – were made with debit cards while almost 20 million were made with credit cards.
“With Black Friday coming up and consumers preparing for a shopping spree, we expect the typical seasonal peak in ‘tap’ payments, as well as Scan to Pay QR code payments on popular online merchants. Merchants which offer customers convenient forms of payments are able to process transactions faster, reducing queue times and risk of basket abandonment,” adds Makanjee.
FNB launched Scan to Pay earlier this year where customers can scan a QR code to make a payment. The service is reportedly growing well and compliments other FNB Digital Payment solutions such as FNB Pay.