South Africa’s First National Bank (FNB), buoyed by the success of its cellphone banking service, plans to introduce the offering in East Africa as well.
The service in South Africa lets customers of the bank use their mobile phones to check their balances, transfer money between accounts, make payments to individuals, pay monthly accounts, and even pay traffic fines.
FNB chief operating officer for Cellphone Banking, Dione Sankar, said that the financial services plans for Tanzania to be its next market.
“Cellphone Banking will be launched in Tanzania next,” said Sankar.
"Unfortunately, we are unable to divulge dates at this point in time," he added.
FNB currently offers its Cellphone Banking service in South Africa and to five other countries, which include Botswana, Lesotho, Swaziland, Zambia and Namibia.
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