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FNB reveals how many eWallet users it has in South Africa

FNB estimates that it has 3.5 million active users in South Africa of its eWallet service. By Staff Writer

In South Africa there are 5 million people that have used eWallet since its inception with 3.5 million considered active users, meaning that they have used this service in the last six months, FNB said in a statement on Wednesday.

FNB added that eWallet has reached an impressive milestone with over R33 billion sent to users since the inception of the mobile money service and R1.2 billion sent every month to eWallets in South Africa. Of the R33 billion, R27,8 billion has been sent through the traditional consumer eWallet service.

FNB said the newer business solution, eWallet Pro, makes up the additional R5,2 billion sends. This service allows businesses to pay workers without bank accounts and is showing good growth. It has the same functionality as the eWallet consumer service, but has the addition of a prepaid Visa Card.

“The ability to send money to any South African number has undoubtedly contributed to the success of eWallet, with the convenience of the facility and the ease of use being at the essence of its ever growing popularity in South Africa as well as other African regions,” Lytania Johnson CEO of eWallet Solutions at FNB said in a statement.

In sub-Saharan Africa, FNB eWallet continues to do well with Namibia, Botswana, Zambia, Swaziland and Lesotho sending a combined R6,6 billion.

“Interestingly, in Namibia, eWallet has seen an impressive uptake in the number of users  with over 1 million eWallet users since inception, which means 50% of the adult population of Namibia now use eWallet,” said Johnson.

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