First National Bank (FNB) today announced its latest innovation, Pay2Cell – a solution that allows FNB account holders to make payments to other FNB account holders using only the recipient’s cellphone number.
A first in South Africa, the solution omits the need to remember long account details and also allows the recipient to keep their banking details private. It is a central part of the bank’s shift towards electronic banking, as it allows a full basket of transactions without either cards or forms.
CEO of FNB Cellphone Banking Solutions, Ravesh Ramlakan says the bank is consistently looking at ways to use technology and innovation to bring convenience, and speed to its customers.
“Our customers no longer need to divulge their account details in order to receive a payment; all they need to do is provide their cellphone number. Peace of mind for our customer is vital to us, Pay2Cell offers our customers a quick and easy way to make payments instantly,” says Ramlakan.
The bank points out that with the development of such solutions it hopes that more and more customers will use Cellphone Banking. “We have a customer base of 7 million, of whom 3 million are Cellphone Banking customers,” he says.
“But we are not only aiming to increase the number of Cellphone Banking users – we’re also focusing on providing innovative services to our customers,” he concludes.
Alan Straton
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Amazing, big banks trying to muscle in on tips in order to take their cut. What next..