FNB extends m-wallet to South Africa’s unbanked


South Africa’s First National Bank (FNB) has extended the reach of it mobile wallet service beyond account holders by striking a deal with retail giant Pep.

Launched in 2009, FNB’s eWallet lets customers use their mobile phones to send and receive money, buy pre-paid airtime and purchase goods and services online.

With more than 700,000 eWallets created so far, the bank is now looking to extend the service to non-customers, enabling anyone with a South African mobile number to sign up through Pep’s 1200 stores. Customers will also be able to buy goods at the outlets using their handsets.

Yolande Van Wyk, CEO, FNB eWallet Solutions, says: “FNB eWallet is changing the banking industry and this is evidence that we can do so much more to include all South Africans in financial services. This will ensure that those who previously didn’t have access to banking services can participate in the economic development of our country.”