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

TransUnion launches Nipashe credit checking solution for Kenya

TransUnion has launched an innovative new SMS short code solution that enables consumers in Kenya to easily access their credit information.  Read More

Orange Money Botswana tops 300,000 subscribers

Orange Money Botswana has announced that its customer numbers have reached the 300, 000 mark. Read More

Airtel, Wari expand financial inclusion in Nigeria

Airtel Nigeria has collaborated with payment solution provider Wari, to provide an innovative payment platform for Nigerians. Read More

Glo Xchange agents roll out operations on mobile money

Globacom has announced its readiness to roll out the first set of market-ready agents for its mobile money service, Glo Xchange. Read More

BotswanaPost releases app for electricity purchasing

BotswanaPost has officially released a smartphone app allows users to users to purchase prepaid electricity using mobile phones. Read More

GeoPoll, Kantar Media Unveil Kantar-GeoPoll Media Measurement in Africa

GeoPoll’s mobile platform and media measurement service is to be combined with Kantar Media’s experience in audience measurement methodology. Read More

Study: online gambling goes mainstream

New data from Juniper Research has found that more than 1 in 10 adults worldwide will engage in some form of mobile or online gambling by 2019. Read More

Is Kenya ready for social commerce?

With 99% of Kenyans accessing the internet through smartphones, many factors still hamper the growth of social commerce, says Jumia’s Communications Manager. Read More

MTN Ghana holds 2nd Mobile Money forum in Accra

MTN Ghana held its second Mobile Money Stakeholders’ Forum in Accra this week, under the theme maximizing the potential of mobile money to drive financial inclusion in Ghana.  Read More

Now parents can use mobile to pay kids for doing their chores

ZAZOO has partnered with Funifi to add a secure mobile payment mechanism to an app that encourages kids to do their chores.   Read More

PRESS OFFICES

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

FEATURED STORY

Young innovators shine during pitch sessionsYoung innovators shine during pitch sessions

Botswana saw an array of upcoming tech wizards selling their ideas during the Vendors’ Day pitch sessions this week.

IN DEPTH

High tech homes: Just press playHigh tech homes: Just press play

High tech, digital homes where everything is automated and connected aren’t the stuff of science fiction any longer, says BNC Technology.