FNB extends eWallet through Pep stores chain
First National Bank and Pep stores countrywide now offer FNB eWallet, which allows any South African consumer, with a bar-coded South African ID, to deposit, withdraw or send money, make payments and purchase goods in store.
CEO of FNB, Michael Jordaan, says that the partnership is a milestone for the bank in its efforts to use innovation and technology to make banking available to South African consumers. "With this partnership we are further extending banking services to all South Africans, with or without a bank account. This will enable them to send and receive money instantly, a simple yet safe solution in providing access to financial services. This market leading innovation takes our product to an additional 1200 new outlets," he says.
"Previously only the bank's customers were able to use eWallet. With this new initiative, all consumers now can have access to the eWallet, via their cellphones," says Yolande Van Wyk, CEO FNB eWallet Solutions.
Since its launch in 2009, more than 700 000 eWallets have been created. On average, 50 000 new eWallets are created monthly.
