First National Bank ATMs are seen in Eastgate. File picture: Independent Media

JOHANNESBURG –  In just over a month since being made publicly available, FNB’s eWallet eXtra has registered 50 000users and is seeing a steady increase in transactional volumes, especially cash sends.

The mobile digital account was announced 6 months ago and officially went public on 27 August 2018.

 Gugu Zikhali, FNB Head of Transaction Products, Mass Market, said: “eWallet eXtra has no monthly fees and is primarily aimed at South Africa’s unbanked market. The positive uptake is testimony that South Africans have appetite for digitally based banking solutions. Anyone who owns a mobile phone can open an eWallet eXtra account without having to visit a branch. All that is required is a name, surname, ID number and thereafter the customer is issued with a unique account number.”

“Full control and safety are key features of eWallet eXtra and the first layer of security allows users to generate a PIN code to access their account.”

eWallet eXtra users can view their bank account balance and transaction history on their mobile phone at any time, from anywhere. The account has a daily spend limit of R3 000 and R24 000 per month, while cash withdrawals can be made at FNB ATMs or over the counter at participating SPAR stores.

“Mobile device penetration in South Africa has been quite vigorous over the years, this has necessitated the development of innovative banking solutions such as eWallet eXtra. Mobile banking platforms such us eWallet eXtra are especially game changing for consumers with limited banking options,” said Zikhali.

BUSINESS REPORT ONLINE