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R25bn flows through eWallet

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FNB has revealed that volumes of transactions via its eWallet grew to 46-million for the six months to the end of June 2019. The total value transmitted was over R25bn for the year.

“Customers are constantly seeking instant gratification with ease of sending money and eWallet is proving to be the solution for this need,” said Dr Christoph Nieuwoudt, CEO of FNB Consumer.

“We believe that the rise in mobile penetration, coupled with increased access to smart technology, is enabling customers to become amenable to platform-based banking. The growing interactions across our platform reflects consumer appetite for safe and conveniently solutions.”

FNB’s mobile digital account, eWallet eXtra, has also shown significant growth, accumulating a total of 140 000 active customers to date.  eWallet eXtra is a zero monthly fee digital account which also protects customers against unauthorised debit. No debit orders are allowed on the digital account.

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

“The positive performance by eWallet and eWallet eXtra is a great motivation to continue to partner with our customers and provide solutions that resonates with them at every life stage they are in.”

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