Independent Online

Wednesday, June 29, 2022

Like us on FacebookFollow us on TwitterView weather by locationView market indicators

We spend more than R10 billion on prepaid services

Published May 26, 2022


FNB's efforts to help customers with lifestyle solutions on its digital platform are gaining traction. In the past nine months, over R10 billion worth of third-party prepaid lifestyle solutions such as software vouchers, airtime, data, electricity, and lotto were purchased by customers via the FNB App. The value of pre-paid lifestyle solutions purchased has increased by 16% year-on-year, and 70% of all purchases are now made through the FNB App.

"The scale of lifestyle purchases on our digital platform is on par with the largest online retailers in South Africa," says Raj Makanjee, CEO of FNB Retail.

Story continues below Advertisement

"We have over 6 million customers who use our digital channels, with over 4 million of them using the FNB App. Offering more lifestyle solutions on our digital platform adds value to our customers and complements our integrated financial services solutions. The current momentum indicates that our customers are getting value from our existing solutions," he says.

FNB Connect handles the management of third-party prepaid services such as airtime, electricity, software vouchers, and lotteries, to name a few.

CEO of FNB Connect, Brad Roper, explains that they want customers to maximise the efficiency of FNB's digital platform for their lifestyle needs. "We are leveraging our ecosystem and platform to better enable access to these services. We recognise the financial challenges customers face and are committed to providing value for money in a convenient manner. The ability to purchase electricity, data, software vouchers, or even pay a traffic fine on a single platform eliminates the need for customers to download various apps, and they can also pay with eBucks where relevant,” he adds.

Story continues below Advertisement

Recently, FNB Connect unveiled Hero Deals, allowing customers to get substantial savings on the latest laptops, tablets, and smartphones from popular brands such as Apple, Samsung, and Lenovo, all of which are accessible via the FNB App. Specific plans include monthly data, airtime, and SMSes on a FNB Connect SIM. The 24-month packages are more cost-effective than acquiring the specified devices at retail stores for cash. Customers can access the Hero Deals in the FNB App Product Shop by swiping to the Connect Shop.


Related Topics:

Money Matters