FNB Digital Payments
FNB Launches 2 New Digital Payment Solutions for SMEs
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Why Consumers should be Cautious when Entering Banking Details Online
The fast pace of digital progress in the financial world has made it easier than ever for people to transact, make purchases, and manage their money online. For most people, speed and convenience are two of the most important benefits that a digital transaction offers, and many businesses invest significantly into developing digital processes that make such fast and easy transactions possible for their online customers. One example of this digital transactional enablement is a process called screen-scraping. Put simply, this is the process of copying information shown on a digital screen like a computer or mobile device, so that it can be used in another digital screen or process. Ravi Shunmugam, CEO of EFT Product House for FNB, explains that there are various examples of screen-scraping ...
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...
