First National Bank (FNB)
FNB Expects 10% eCommerce Transaction Boost on Black Friday
FNB says that it is expecting a 10% increase in the total number of eCommerce transactions over Black Friday and Cyber Monday – as many consumers who participate in Black Friday may opt to shop online instead of going into brick and mortar stores. This is comparable to 2019 where Black Friday weekend transaction volumes on FNB POS (Point of Sale) devices grew by 32% compared to 2018, while eCommerce transactions grew over 30%. FNB also says that its merchants have also upped their game by investing in their platforms to ensure a seamless sales experience, regardless of the types of devices used by consumers when shopping. One such example is increased support for QR Code payments, where the customer opts to checkout through simply scanning the presented QR Code to pay. FNB Virtual Cr...
Use of Digital Payments is Growing Rapidly in South Africa
Sourced from Htxt.Africa The accelerating rate at which retail merchants are enabling consumers to pay digitally at point of sale is said to be fueling the growth of digital payments in South Africa. This is according to FNB, which revealed that its Scan-to-Pay and Tap-to-Pay functionality on the FNB APP recorded the highest month-on-month usage growth in August 2020 since launch. The Bank states that month-on-month transaction volumes on Scan-to-Pay – which allows users to scan a QR Code to make secure payments at a physical point of sale or on an online merchant website – grew by 36% in August while values increased by 39%. Similarly, month-on-month usage of Tap-to-Pay functionality – which allows users to pay for goods by simply tapping their smartphone to pay at a point of sale – incre...
FNB Introduces QR Code Payments to all Speedpoint Devices
Sourced from Htxt.Africa FNB has revealed that shoppers across South Africa will now be able to make QR code payments at all standalone sale terminals. The bank says that this forms part of the ongoing expansion of its payments ecosystem and integrated App-based QR code, aimed at accelerating the adoption of digital payment solutions in the country. FNB Merchant Services CEO, Thokozani Dlamini says given the challenges we are currently facing globally due to the COVID -19 pandemic, it was essential that FNB fast-track the rollout of QR code payments for enhanced convenience and safety. “Added to the cost-effective, convenient and efficient payment process of contactless payments, both consumers and merchants will have peace of mind from a safety perspective, as physical contact will be lim...
How Card Swipes Point to Economic Recovery in South Africa
Sourced from Htxt.Africa Following months of uncertainty, data from FNB shows that businesses are already seeing signs of recovery as card swipes at merchants point of sale devices rebound close to pre-pandemic levels. Purchases recorded on FNB Speedpoint devices show that transactions recorded in August, when the country moved to level 2 of lockdown, recovered to 93.2% compared to February this year. In the same month, merchant transactions recorded across six provinces were already above pre-pandemic levels, with Free State and Gauteng at 90%, followed by the Western Cape at 70%. Signs of recovery were already apparent in July when the country was still on level 3 of lockdown, where activity had recovered to roughly 86% compared to pre-pandemic levels. Gordon Little, CEO of FNB Business,...
Why Senior Citizens Should Choose Online Banking
While citizens are encouraged to remain indoors and work from their homes as a result of COVID-19, research around the world also highlights that senior citizens are among the most vulnerable to the pandemic. This is one of the compelling reasons for senior citizens to consider efficient ways of banking to minimise the risk of exposure to COVID-19. The adoption of digital banking channels over this period empowers consumers of all ages with tools to easily manage their money from anywhere and at any time; allowing them to protect their health at the same time. “As a bank for all, we continue to scale our efforts in educating our customers on the ease and safety of using our digital platforms. To those customers over the age of 55, we want to emphasise the endless benefits such as cost-savi...
FNB Named South Africa’s Best Digital Bank
Sourced from Htxt.Africa First National Bank (FNB) has been voted as the best digital bank in the 2020 SITEisfaction survey. The bank is said to have “dominated overall customer satisfaction metrics on both the Best Mobile Banking and Best Internet Banking categories”. Conducted for 9 consecutive years, the survey benchmarks Internet banking, app and customer experience against that of competitors as well as against previous years’ performance. “Our consistent approach to digital banking has provided customers with an innovative, contextual and agile banking experience. Our banking processes have evolved into one that can operate through challenging market conditions with changing consumer perceptions, sentiment and dynamics. Through this we have delivered platforms that have been pivotal ...
