First National Bank (FNB) Zambia has launched a banking app that offers business customers full access to a range of services via their mobile phones.

FNB Zambia Head of Business Banking Yokonia Ngoma said, "The app will also enable farmers and contractors with seasonal labour to make bulk payments to their staff without having to visit banking halls to make transactions. We are really enhancing the business experience of our customers and reducing the cost of accessing banking services."

FNB has operated in the Zambia market for 8 years and competes with Zanaco, Standard Chartered Bank, Barclays Bank and Stanbic Bank for market share.

Amid increasing competition and the advent of mobile payment systems, these companies are compelled to look more closely at the offer of online and mobile phone banking services.

According to a 2015 ICT survey by ZICTA (Zambia Information and Communication Technology Authority) 71% of Zambians access the internet via their mobile phones.

The Bank of Zambia has called on financial players in the Southern African country to increase the uptake of digital payments.

Bank of Zambia deputy governor for administration Tukiya Kankasa-Mabula said there is need for stakeholders to encourage the public to adopt digital payment solutions because they have multiple advantages to both service providers and the government.