By John Churu, Gaborone, Botswana
First National Bank Botswana (FNBB) has brought another first to the market, which will make payments even easier for FNB Businesses, Commercial and Corporate customers. At Capitol Cinemas at Masa Centre, FNBB officially launched its latest digital banking solution, eWallet Bulk Send. An amplified version of FNB eWallet, eWallet Bulk Send allows business account holders to send money to multiple recipients at a go through the Online Banking Enterprise platform.
According to FNBB public relations manager, Kemiso Ben, the solution supports business to perform multiple eWallets payments to an unlimited number of recipients. eWallet Bulk Send is available through the FNB Online Banking Enterprise platform for business accounts.
“When a business account customer uses eWallet Bulk Send, an electronic transaction is created to send funds from their account to their chosen list of recipient mobile numbers. Recipients can then access the funds by dialing *130*392# and can withdraw their funds at any FNB ATM, ATM Advance or Slim line ATMs across the country. eWallet is more than just a money payment/transfer service as it allows the wallet holder to perform a variety of transactions including purchasing prepaid airtime and electricity.”
There are no bank charges to withdraw at ATMs for the first transaction. eWallet Send Money service receivers have immediate access to all of the money sent to them. Withdrawals can be made in full, or receivers may choose to withdraw part of the money and keep the rest in a Wallet for future use.
“At FNB, we always strive to transcend the boundaries of conventional banking in order to continuously provide customers with convenient solutions. The eWallet bulk send solution augments our efforts to promote financial inclusion by banking the unbanked since the eWallet recipients does not need to have a bank account,” said FNB Business Director, Ogone Madisa-Kgwarae.
“Our FNB ATM network is central to the success of eWallet with its extended footprint across the country. New banking technologies such as the FNB App introduced last year and the mobile ATMs, are helping us reach remote and rural communities as well as encouraging the growth of eWallet,” said Madisa-Kgwarae.
Paying multiple recipients in one go through eWallet Bulk Send has the following benefits; Instant, simple and secure, ability to pay single or multiple recipients instantly, pay up to P2500 per recipient ($250.00 approximately), unlimited amount of recipients, cost effective (cost P7.48) per transaction
The eWallet bulk send solution comes after the successful introduction of eWallet to the Botswana market for individual transactions in 2010. To date over P3 billion (about $300million) has been sent to recipients via its mobile money solution, since its inception.