FNB launches cross-border mobile payment

VALUE ADDED SERVICES

|
Image: By BiztechAfrica
FNB launches cross-border mobile payment

South Africa’s First National Bank has launched cross border payments to Swaziland and Lesotho via a cellphone using its Pay2Cell service.

Pay2Cell, which launched in September 2011, enables FNB Cellphone Banking customers to make payments directly into other FNB accounts using only the recipient's cellphone number. No bank account details are necessary.

Ravesh Ramlakan, CEO of FNB Cellphone Banking, says: "Electronic channels are changing the way customers transact. In order to meet our customers lifestyle needs for simple, 24/7 on the go, and safe banking we continuously provide innovative solutions.

Traditionally making payments to other African countries has been limited to internet banking for senders or making a deposit or withdrawal through a branch or via an international money transfer company. We needed to have a simpler solution for our customers."

"Offering cross border payments from a cellphone allows our customers to send and receive money instantly. In addition to this, the use of only the recipient's cellphone number makes the payment process extremely simple for our customers.

Pay2Cell is a confirmation of how we are constantly innovating to the benefit of our customers," says Dione Sankar, COO of FNB Cellphone Banking.

With the launch of Pay2Cell cross border payments, the service will benefit South African FNB customers as well as customers in Swaziland and in Lesotho. In South Africa, Pay2Cell has seen in excess of 400% growth of transaction values since inception.

To access Pay2Cell, registered Cellphone Banking customers can either go to FNB.Mobi site or dial *120*321#, select the banking option and opt for Pay2Cell from the list. Thereafter an option to transfer funds from South Africa to Swaziland or Lesotho may be chosen. All that is then required to complete the transaction is the recipient's cellphone number and the value to be paid. The maximum transaction value is R1500 per day.



Share the News

Get Daily Newsletter

comments powered by Disqus

MORE VALUE ADDED SERVICES NEWS

Airtel Rwanda to introduce Airtel Money micro loans

In a bid to expand reach into mobile financial services, Airtel Rwanda has announced plans to introduce micro-loans on Airtel Money on April 1, 2015 in a partnership with Atlantis Microfinance Limited. Read More

BIC, Orange Money agree on payment service

Botswana Insurance Company (BIC) and Orange Botswana have entered into a partnership which will now enable BIC customers to make their premium payments through the Orange Money mobile money service. Read More

Strathmore, Castalia look to implementation of mobile learning

Strathmore University in Nairobi and Castalia Co of Japan has signed a Memorandum of Understanding to launch a feasibility study of “goocus pro” and “goocus 3”, mobile learning platforms developed by Castalia, starting from April of 2015. Read More

Virtual clinic to help monitor medicine intake in Tanzania

The Vodacom Foundation has donated mobile phones to the Sickle Cell Foundation of Tanzania to support treatment adherence among patients. Read More

Airtel mobile money service now crosses into DRC, Zambia, Rwanda

Bharti Airtel has launched a cross-border money-transfer service for Airtel Money customers between the Democratic Republic of Congo (DRC), Zambia and Rwanda.  Read More

Orange, Airtel enable money transfers between Côte d’Ivoire and Burkina Faso

Customers of Orange Money in Côte d’Ivoire can use their mobile phones to send money to customers of Airtel Money in Burkina Faso, and vice versa.  Read More

KCB, Safaricom launch comprehensive new mobile banking product

KCB Group and Safaricom have launched a new mobile banking product with what they describe as the most comprehensive features yet in the market. Read More

M-PESA: Vodacom Tanzania, Safaricom Kenya connect on transfers

Over 7 million M-Pesa customers in Tanzania and over 18 million Safaricom customers in Kenya can now send and receive money from each other.  Read More

Safaricom launches M-PESA Surepay

Safaricom has announced a new service that will allow organisations to track funds sent to beneficiaries via its mobile money solution M-PESA. Read More

EcoSure hits 1 million users

In just two months, Econet’s insurance service, EcoSure, has registered over one million new customers. Read More

PRESS OFFICES

Sage ERP AfricaSAP AfricaSage Pastel AccountingTrust PayVMWareSamsung ElectronicsMitsumi DistributionPhoenix DistributionMTN BusinessSchneider ElectricMultichoiceMicrosoft 4Afrika

FEATURED STORY

2bn priced out of internet access2bn priced out of internet access

A new report from the Alliance for Affordable Internet shows that the price of broadband remains prohibitive for billions in developing and emerging countries, with women and rural dwellers hardest hit.

IN DEPTH

Villagers get solar training at Barefoot College Villagers get solar training at Barefoot College

The Botswana Human Resource Development Council (HRDC) has seconded seven semi-illiterate mostly Ngwatle villagers for a six month solar electrification training course at the famed Barefoot College in India. 

COMPANY NEWS

Microsoft 4Afrika launches Biz4Afrika online SME hub

Microsoft 4Afrika used the opening of the Connected East Africa event in Diani, Kenya today to launch Biz4Afrika, an online hub providing Kenyan small and medium enterprises ...