Times Of Swaziland: CASHPLUS AGENCY HITS E1BN MARK

CASHPLUS AGENCY HITS E1BN MARK
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Nhlanganiso Mkhonta on 17/09/2024 07:11:00


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).