Cellphone banking "comes of age"

LEN PIENAAR

FNB REPORTS that cellphone banking has "come of age" in South Africa, as a growing number of customers relies on mobile banking.

Len Pienaar, CEO of First National Bank mCommerce, says cellphone banking is now more widely used than PC based banking. "The high adoption rates we've experienced show that it's a trusted and convenient channel for customers to perform a wide range of transactions from checking account balances to buying prepaid airtime or paying a beneficiary."

Last year, FNB Cellphone Banking customers performed more than 56 million transactions to the value of over R7.2 billion.