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Nadine Mather and Chloë Loubser
Cellphone banking passes R1bn
FNB have announced that December 2009 saw R1bn worth of banking conducted in 10 million cellphone transactions. This exceeded the previous year's cellphone banking use by more than 100%.
FNB's mCommerce CEO, Len Pienaar
"It has truly come of age in South Africa and is now becoming the preferred choice of banking,” says Len Pienaar, CEO of FNB mCommerce. “The high adoption rates we've experienced show that it's a trusted and convenient channel for customers to perform a wide range of transactions from checking balances to buying prepaid airtime and Lotto tickets or paying bills."
Following the introduction of Send Money in November 2009, its value of transactions reached R6 million in December alone. More than 150 000 Lotto tickets were sold in December, as the bank is still the only one offering this service on its cellphone banking channel.
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