JOHANNESBURG - In little more than a month since being made publicly available, FNB’s eWallet eXtra has registered 50000 users and is seeing a steady increase in transactional volumes, particularly cash sends.
The mobile digital account was announced six months ago and officially went public on August 27.
Gugu Zikhali, FNB’s 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 an 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 and identity 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 cellphone at any time, from anywhere.
The account has a daily spend limit of R3000 and R24000 a 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, which has necessitated the development of innovative banking solutions such as eWallet eXtra.
“Mobile banking platforms such as eWallet eXtra are especially game-changing for consumers with limited banking options,” said Zikhali.