11 Mar 2016

First National Bank (FNB) has launched its latest digital banking solution dubbed eWallet bulk send in Gaborone.

The solution is tailored for FNB businesses, commercial and corporate customers.

The amplified version of FNB eWallet, eWallet bulk send allows business account holders to send money to multiple recipients at a go through the online banking enterprise platform.

Speaking at the launch, the director of FNB business segment, Ms Ogone Madisa-Kgwarae said they were proud of the new development because it augments their efforts to promote financial inclusion by banking the unbanked.

She said FNB made a milestone in 2010 that revolutionised banking when they were the first bank to launch an instant money solution called eWallet.

Ms Madisa-Kgwarae said over the years the eWallet service has shown tremendous growth and that to date more than 2.7 billion worth of recipients have received money through the solution since its inception.

“This proves to us that mobile banking is an excepted replacement for person to person and has replaced cheque payments,” she said.

She highlighted that eWallet continued to experience high growth rates. 

“As part of our customer centric strategy we are always striving to solve for what we call customer’s needs, what gives customers sleepless nights, we therefore saw the need to introduce this solution to businesses to allow them to send eWallet to multiple recipients,” she said.

In his presentation, the head of eSolutions Botswana, Mr Gao Mokobi, who is also the product owner, said eWallet Bulk Send is an infusion of the two products which have been successful in the last couple of years, being online banking and eWallet.

He said the benefits of the eWallet Bulk Send was that it was instant, simple and has the ability to pay single or multiple recipients.

Mr Mokobi further said one could pay up to P 2 500 per recipient and that there was unlimited amount of recipients and that it was also cost effective. Ends