FNB set to lead the charge in payments innovation in 2024 –

Payments are the lifeblood of commerce, fuelling every transaction and making it possible for businesses to operate and consumers to acquire the goods and services they need.

According to Jacques Celliers, CEO of FNB, this simple fact is behind FNB’s commitment to be a world-class provider of innovative and seamless payment solutions for its customers.

FNB’s leadership in the South African payments sector is clearly evident, having been the first to pioneer the hugely successful Money Transfer solution known as eWallet which has been a game changer in providing a bridge between the banked and unbanked, without the need for a formal bank account to receive money.

This has now become a well-known household name, so much so that it was awarded Icon Status in the 22/23 Money Transfers Category of the Ask Africa Brands Survey.

The brand’s innovative leadership in the payments space was further cemented in 2023 through the launch of its revamped FNB Pay feature – a comprehensive hub for all the bank’s payment solutions.

“The FNB Pay platform is more than a service; it’s an innovative ecosystem designed to simplify and enhance the payment experience for buyers and sellers,” Celliers notes, “streamlining physical and digital transactions, enabling accurate tracking, and even facilitating international payments – all through a single user-friendly interface.”

The recent launch of Instant Payments marked another milestone for FNB, and offered its customers the ability to send money instantly, simply by entering a card number on the FNB app interface.

“It’s proven to be a payments game-changer,” Celliers says, “combining speed with convenience and security.”

Moreover, FNB’s PayMe service redefines how people request money, providing a streamlined and hassle-free way to digitally ask for funds from contacts. Celliers describes FNB PayMe as “a unique way of connecting people and making every transaction as simple as sending a text.”

FNB urges its customers to continue using their Virtual Cards for safer online transactions and to approve online purchases through the FNB App to avoid becoming a victim of fraud.

The Card Verification Value (CVV) security number for FNB Virtual Cards changes regularly, which adds an additional layer of security when transacting online.

FNB also offers complimentary Purchase Protect insurance for up to R15,000 for 30 days post online purchases made with an FNB or RMB Private Bank Virtual Card.

For those who travel or shop internationally, FNB’s Global Virtual Card, compatible with Google Wallet and Apple Pay, offers a secure and rewarding way to transact and, according to Celliers, has ushered in a new era of global financial connectivity and convenience.

Of course, FNB’s commitment to payments efficiency isn’t limited to individuals; the bank has also championed the payments needs of businesses who benefit from a more streamlined digital payments and receipt experience.

FNB removes most of the payments and cashflow barriers that are common to many businesses, making it easy for them to pay and get paid, operate efficiently, and enhance their success.

“With tools like the Speedee App, which eliminates the need for traditional point-of-sale systems, we’re equipping businesses of all types to thrive in an increasingly digital economy,” Celliers states, “with services like Speedee App, Speedee QR, eWallet Pro, Dynamic Currency Conversion, and integrated pay-at-table solutions, there’s an FNB solution to meet every requirement, ensuring that payments are the last thing businesses should be worrying about.”

Looking forward, Celliers is optimistic about the role that FNB’s innovative approach will continue to play in transforming payments in Africa.

“As we move into 2024, our commitment to delivering a secure, user-friendly payment ecosystem remains unwavering.”

“We’re not just keeping pace; we’re setting the trends and leading the way in payment solutions and, in the process, reshaping the landscape of payments to maximise their value for all parties involved in any payment transaction.”