In a first for South African banks, First National Bank, through a partnership with cell phone network provider MTN, is aiming to reach even the poorest communities through the provision of a R5 prepaid airtime recharge voucher.
First National Bank (FNB) is aiming to reach even the poorest communities through the provision of MTN’s Umoya airtime category.
FNB is the first of the big four South African banks to launch a real-time cell phone top up for as little as R5.
Previously, the minimum prepaid airtime voucher top up for MTN was R25. Customers can now recharge from as little as R5, using FNB Online Banking, FNB ATMs and Cellphone Banking from FNB. As with other prepaid purchases on FNB Online Banking, ATMs and Cellphone Banking, the purchase of the R5 MTN prepaid airtime recharge voucher will be free of bank charges.
In addition, Cell phone Banking from FNB offers a zero-rated dial string, using USSD, which is free of network charges.
By dialling *130*321# on their cellphones, MTN customers can purchase the R5 MTN prepaid airtime recharge voucher for themselves or someone else without paying any network or bank charges.
Says Len Pienaar, Head of Mobile and Transact Solutions for FNB, ‚The bank realised that there was a significant need for more affordable choices in the prepaid airtime market. Through negotiations with MTN, we are now able to service the basic needs of our joint customer base by providing a more affordable prepaid product.‚
Donovan Smith, General Manager, Consumer Segment Marketing, MTN SA concurs: ‚A large segment of MTN Pay as you Go users prefer to recharge more frequently, in smaller denominations, as a means to ‚top up’ to meet their ongoing needs for communicating with friends and family.
“MTN has made it easier for them to do so by lowering the prepaid airtime recharge barrier. This also becomes an entry level for a market that previously has not had access to mobile telephony. It further gives life to MTN’s objectives to connect the unconnected.‚
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