FNB expands Pay2Cell service
Mobile banking provision in South Africa is being expanded courtesy of First National Bank (FNB).Mobile banking provision in South Africa is being expanded courtesy of First National Bank (FNB).
According to Ravesh Ramlakan, chief executive officer of the company, electronic channels are "changing the way customers transact", reports SouthAfrica.info.
FNB responded to the growing popularity of mobile phone banking by launching Pay2Cell almost a year ago.
Now, it is expanding the service by making it possible for consumers to make cross-border payments to recipients in Lesotho and Swaziland.
Mr Ramlakan said this is a much simpler alternative to the system that had previously been in place.
"Traditionally, making payments to other African countries has been limited to internet banking for senders or making a deposit or withdrawal through a branch," he commented.
The official added that many people could also have used an international money transfer company to make cross-border payments.
FNB first unveiled the Pay2Cell service in September 2011 and it can be used either by dialing a special phone number or accessing its mobi site.