FNB expects surge in eWallet transfers to R3bn this festive season

FNB media statement

Gauteng customers are top senders of eWallet

FNB anticipates a 26% increase in eWallet send volumes during the festive season. During last year's festive season, the bank's customers sent over R2.4bn worth of eWallet funds.

FNB Consumer CEO, Christoph Nieuwoudt said the bank has over the years seen substantial growth in eWallet volumes during the festive season. "eWallet provides our customers with simplicity, convenience and security when sending money. This offering has become top of mind among South Africans when looking for easy ways to send money."

For the current year, FNB's data revealed that consumers in Gauteng are the top senders of eWallet at 47%, followed by KwaZulu-Natal at 14%, and Western Cape at 10%. Other provinces completing the top six includes Eastern Cape at 9%, Limpopo, Mpumalanga and Northwest jointly coming at 5% and lastly Free-State at 4%.