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

Orange invests in Afrimarket cash-to-goods money transfer startup

Orange has contributed to a fund-raising program initiated by Afrimarket, the leader in cash-to-goods money transfers. Read More

Internet.org app now available in Ghana

Following the launch of the Internet.org app in Zambia and Kenya, Facebook is expanding its partnership with Airtel to bring the services to Ghana. Read More

TNM mobile money usage grows by 20%

Telekom Networks Malawi Limited (TNM) has announced that the number of customers using its mobile money service, called Mpamba meaning ‘capital’, has increased by 20 percent. Read More

Azimo launches instant money transfer to eight new countries in West Africa

Azimo, the online money transfer service, has announced that customers across Europe can now send money to recipients in Benin, Burkina Faso, Ivory Coast, Guinea-Bissau, Mali, Niger, Senegal and Togo in West African CFA francs for instant cash pick-up. Read More

Airtel partners Cignifi and WSBI on mobile savings products

Brussels-based WSBI (World Savings and Retail Banking Institute) and Cignifi today announced an agreement to develop and test-market an innovative mobile savings product targeted at underserved and dormant savers.  Read More

WorldRemit, MTN in Mobile Money partnership

WorldRemit and MTN have signed a global partnership that will enable WorldRemit customers to send remittances instantly to MTN’s Mobile Money customers. Read More

Draw your own video game

Cartoon Network Games has partnered with Pixel Press on an innovative title encourages players to draw their own Adventure Time game levels. Read More

Tigo subscribers to enjoy 36m music tracks on their smartphones

Tigo Tanzania today announced the launch of Tigo Music through a partnership with Deezer, the international music streaming service that will provide Tanzanians with unlimited music experience. Read More

Tigo Rwanda launches 4G, TV streaming

Tigo Rwanda has officially launched its 4G internet service and iROKOtv video streaming partnership. Read More

MTN unveils 2015 BetterMe app to maximize internet usage

Henry Okoede, Bayo Adekanmbi and Ms. Funmi Onajide MTN Nigeria has launched its BetterMe campaign with the unveiling of the My2015BetterMe app and three 2015 BetterMe Bundle offerings for customers across all strata. Read More

PRESS OFFICES

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

FEATURED STORY

UCC launches 2015 ACIA awardsUCC launches 2015 ACIA awards

Uganda has launched the fifth Annual Communications and Innovation Awards, which celebrate and foster ICT innovation and achievement.

IN DEPTH

Kenya’s digital TV battle hots up Kenya’s digital TV battle hots up

Kenya’s journey to Digital TV broadcasting took a new turn this week, when the Communication Authority of Kenya (CAK) accused three local media firms of intent to disrupt the process.

COMPANY NEWS

Albany CTG, Microsoft, collaborate on School of Government Program

The University at Albany’s Center for Technology in Government (CTG) has announced its collaboration with Microsoft Corporation to deliver executive level training to government leaders in Africa ...