CASHPLUS AGENCY HITS E1BN MARK

EZUWLINI - The CashPlus Agency Model has finally crossed the E1 billion mark (2023: E850 million) in transaction values, all being managed by over 660 (2023: 502) associate merchants around the country.

FNB’s eWallet remains very popular, helping Emaswati send support funds and low-value domestic payments of over E3.25 billion (2023: E2.76 billion) in a single year, from 4.1 million (2023: 3.5 million) sends. The bank indicated that despite being overtaken by smartphone-based payment products that have migrated transactions away, their cellphone banking channel retains a loyal customer base that still handles about E1.76 billion (2023: E1.83 billion) in value annually. This remains a very key strategic channel for the bank’s customers, notwithstanding the slight drop in transaction values.

FNB’s Fuel Rewards programme helped customers swipe 1.7 million times (2023: 1.5 million) to spend just under a billion Emalangeni in fuel purchases at E982.4 million (2023: E940.7 million).  This represents an over 50 per cent improvement since 2022, when we first rolled out FNB Fuel Rewards. The overall customer acquisition drive and very high customer activity lifted non-interest revenue by 13.7 per cent to E528.3 million (2023: E464.8 million).

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