FNB has revealed that its individual and business customers continue to demonstrate impressive adoption of digital payments, with over R21-billion in payments made using FNB Pay-supported digital wallets over the previous 12 months, a year-on-year increase of 293%.
In addition, R13-billion in virtual card payments was processed via 4-million active virtual cards since launch and has increased by more than 250% since November 2021.
Chris Labuschagne, CEO of FNB Card, says: “Individuals and businesses are choosing more convenient payment options, which has contributed to the popularity of payment methods such as our virtual card. Not only is a virtual card the preferred way of payment for online purchases, but it may also be used for contactless payments at the point of sale. We believe there are even more opportunities to ramp up usage among the millions of our individual customers and acceptance by our merchants.”