With expectation building for the launch of Bank Zero by legendary banker Michael Jordaan, his previous employer seems to have taken a strategic shot with the launch of its latest service.
FNB has launched Easy Zero, a fully-fledged digital bank account with a card to allow customers to transact easily without paying a monthly fee. The mobile account was formerly known as eWallet eXtra.
The revamped digital account will now have a branded FNB bank card, providing customers with free card swipes, cost-effective transactional and ATM cash withdrawal fees. The card now gives customers more options to access their money. In addition, customers will also get free prepaid purchases and free cash deposits of up to R1,500 per month.
FNB Easy CEO Philani Potwana said: “We are aware of the day-to-day financial pressure that our consumers face, and Easy Zero is a direct response to their needs. The account is in line with our strategy to broaden financial inclusion to the unbanked and underbanked. We believe that the ability to operate the account digitally will allow customers to operate it at virtually no cost or minimal cost depending on transactional behaviour.
“We see Easy Zero being a digital bank account of choice for customers who do not have regular income or have limited banking needs. This is partly the reason debit orders are not allowed on the digital account as customers in this segment have limited debit orders. However, for those customers that have a need for debit orders they can still use our competitively priced Easy PAYU and Easy Smart Bundle accounts.”
Through Easy Zero, customers will be able to send money to anyone with a valid SA cellphone number, and skip the queues to pay people and accounts. Easy Zero account holders can also view their bank account balance and transaction history on their mobile phone at any time, from anywhere.
“The success of our digital account, with over 140,000 active customers, shows that anyone who owns a mobile phone can be banked in minutes using a mobile device,” says Potwana. “This showcases our ability to adapt to the ever-changing consumer landscape to cater for the needs of customers through platform innovation. ”
FNB is also offering Easy Zero digital account holders a toll-free number (0800 079 599) where easy customers can call for help on any of their banking needs. To open an Easy Zero account, dial *120*277# on a mobile phone and follow the prompts.
Black Friday, Cyber Monday, shot the lights out
The numbers are in, and it shows that the start of holiday season shopping in South Africa saw spectacular growth
Black Friday and Cyber Monday continues to be a hit in South Africa, with both days exceeding expectations.
“Black Friday did not disappoint,” says Solly Bellingan, head of customer relations at BankservAfrica. “Despite the tougher economy, it seems South Africans took advantage of the days’ special deals with in-store and online transaction volumes reflecting strong year-on-year growth. Both days have certainly made their mark amongst local retailers and shoppers,
South Africans shopped up a storm with the total number of Black Friday transactions processed by BankservAfrica, in-store and online, at 7,077,117 (*) in 2019 – 36% up from 2018’s 5,204,594. This translates into a total spend of R6-billion, an impressive 106% increase on 2018’s R2.9-billion.
When compared to 2018, it seems bargain hunters decided to get the best deals early with a 33% year-on-year increase in sales at midnight. The 12-hour period between 06:00 and 18:00 proved to be busiest, with similar volumes being processed each hour. The highest number of transactions processed in a 60-minute period was between 10:00 and 11:00 at a volume of 595,792.
“3D-Secure, our online card authentication service, i.e. transactions that require a one-time pin(**), showed steady growth this year with a 32% year-on-year increase on Black Friday and transaction volumes reaching a total of 534,828,” says Bellingan. The busiest shopping times were between 09:00 and 10:00 in 2019 compared to the earlier start in 2018 at 08:00 to 09:00.
“The most expensive online transaction recorded on Black Friday was for a hospitality purchase of R10,067,400 by an international company. The most uses by one card was 83. During peak, we processed 717 transactions while the average was 371 per minute for the day.”
Cyber Monday was less active than Black Friday with a 42% growth in online transactions that reached a volume of 249,908 in 2019 (up from 176,595 in 2018). However, in both years, most of the transactions took place between 10:00 and 11:00, with the most expensive being R1,997,800 and 151 uses by one card. The highest average transactions per minute was 322 at peak and 173 per minute for the day.
“This year’s Black Friday and Cyber Monday data mirrors the global data of record-breaking sales – and the BankservAfrica featured figures are only a portion of the entire sales figures for both days,” says Bellingan. “It will be interesting to see if these manage to outpace festive season spend this year.”
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Amazon records biggest ecommerce day ever
Amazon has announced that Cyber Monday was once again the single biggest shopping day in the company’s history, based on the number of items ordered worldwide. Customers all around the world shopped at record levels across a wide selection, with hundreds of millions of products ordered worldwide between Thanksgiving and Cyber Monday, alone. Customers purchased millions more Amazon Devices compared to the same period last year in Amazon’s Stores globally and the best-selling items were Echo Dot and Fire TV Stick 4K with Alexa Voice Remote.
“We’re focused on making this holiday season more convenient than ever for our customers, especially given how short this holiday shopping season will be,” said Jeff Wilke, CEO Worldwide Consumer, Amazon. “We are thrilled that customers continue to come to Amazon in record numbers to discover what they need and want for the holidays. Thank you to our customers and employees all around the world for making this holiday shopping weekend the best yet.”
Holiday Weekend Highlights:
- Customers worldwide purchased more toys this Black Friday and Cyber Monday combined than ever before. Among the tens of millions of toys purchased during this time period, best-sellers included LEGO Star Wars Darth Vader’s Castle, Monopoly Game: Disney Frozen 2 Edition and Hasbro games such as Jenga, Guess Who and Candy Land Kingdom of Sweet Adventures.
- Cyber Monday was the single biggest shopping day for Amazon Fashion worldwide, with more items purchased than any other single day in the company’s history. Best-sellers included Carhartt Men’s Acrylic Watch Hat and Champion Men’s Powerblend Fleece Pullover Hoodie.
- Amazon customers worldwide ordered more than 25 million home items on Black Friday and Cyber Monday, combined.
- Best-sellers on Black Friday in the U.S. included Echo Dot, Fire TV Stick with Alexa Voice Remote, Instant Pot Duo80 – 8 Quart, 23andMe Health + Ancestry Service: Personal Genetic DNA Test, L.O.L. Surprise! Winter Disco Bigger Surprise and iRobot Roomba 675 Robot Vacuum.
- Customers worldwide purchased more than four million beauty products this Cyber Monday compared to last year, with best-sellers including Oral-B Genius Pro 900 Electric Toothbrush, Lagunamoon Essential Oils Top 6 Gift Set and L’Oreal Paris Voluminous Makeup Lash Paradise Mascara.
- Top-selling categories worldwide include Toys, Home, Fashion and Health and Personal Care.
- The best-selling products in Amazon’s Stores on Cyber Monday in the U.S. included Echo Dot, Fire TV Stick with Alexa Voice Remote, Play-Doh Sweet Shoppe Cookie Creations, Keurig K-Cafe Coffee Maker and LEGO City Ambulance Helicopter 60179 Building Kit.
- Independent third-party sellers in Amazon’s Stores — mostly small and medium-sized businesses – sold more items during Cyber Monday 2019 than any other 24-hour period in the company’s history.
- For the third year in a row, Whole Foods Market broke its all-time record of turkeys sold during the Thanksgiving season.
- Amazon delivered millions of grocery items to Prime members in the U.S. through the five days between Thanksgiving and Cyber Monday. Best sellers from Amazon Fresh and Whole Foods Market delivery included Honeycrisp apples, lemons and avocados.
- Top selling items at Amazon Books and Amazon 4-star stores over the holiday weekend included the Amazon Smart Plug, Echo Dot and All-New Echo Dot Smart Speaker with Clock, L.O.L. Surprise! Dolls, Wrecking Ball (Diary of a Wimpy Kid Book 14), and the Wyze Cam 1080p HD Indoor Wireless Smart Home Camera with Night Vision.
Record-Breaking Weekend for Devices
- Shoppers purchased a record number of Amazon Devices globally this holiday weekend.
- Amazon customers worldwide purchased millions more Amazon Devices, compared to the same period last year in Amazon’s Stores globally, including Echo devices, Fire TV devices, Kindle devices, and Fire tablets.
- It was a record-breaking holiday shopping weekend for smart home devices in Amazon’s Stores globally with shoppers purchasing millions of smart home devices, including iRobot Roomba 675 Robot Vacuum, Furbo Dog Camera, and Wemo Mini Smart Plug.
- The best-selling products in Amazon’s Stores globally were Echo Dot and Fire TV Stick 4K with Alexa Voice Remote.