FNB anticipates R3bn to be sent via eWallet this festive season
DURBAN - FNB anticipates a 26 percent increase in eWallet send volumes during the festive season.
During last year’s festive season, the bank’s customers sent over R2.4bn worth of eWallet funds.
FNB Consumer Chief Executive, Christoph Nieuwoudt said, "Over the years, we have seen substantial growth in eWallet volumes during festive season. eWallet provides our customers with simplicity, convenience and security when sending money. This offering has become top of mind amongst South Africans when looking for easy ways to send money".
For the current year, FNB’s data revealed that consumers in Gauteng are the top senders of eWallet at 47 percent, followed by KwaZulu-Natal at 14 percent, and Western Cape at 10 percent. Other provinces completing the top six includes Eastern Cape at 9 percent, Limpopo, Mpumalanga and Northwest jointly coming at 5 percent and lastly Free-State at 4 percent.
"It comes as no surprise that consumers in Gauteng, KwaZulu Natal and the Western Cape are top senders of eWallet transactions. This is consistent with economic activity in these provinces," said Nieuwoudt.
He added, "We will therefore continuously strive to improve accessibility to our banking infrastructures to ensure that all South Africans have access to our banking platforms".
"While we take this time to relax and spend time with family and friends, we encourage customers to take advantage of this convenient way to send and receive money. Whether you are sending money as a gift to a loved one or an emergency, we believe that eWallet is the best solution for customers," concluded Nieuwoudt.
BUSINESS REPORT ONLINE