Johannesburg - First National Bank (FNB) on Wednesday revealed that women
are catching up to men when it comes to cashing in on the convenience of
sending and receiving money via eWallet on the FNB App.
The latest data revealed by FNB eWallet Solutions shows that
in the six months to June 2017 the percentage eWallet sends by male users on
the FNB App stabilised at 62% while sends by female counterparts increased to
38%.
Sandi Madikiza, CEO of eWallet Solutions said while the gap
is still relatively large, they continue to see a steady rise in the number of
women who are making use of eWallet on the FNB App to send and receive money.
“The gap in eWallet sends between female and male could be
influenced by a number of social and economic dynamics, however closing it is
very important for financial inclusion.
We expect the increasing adoption of smart technology to
play an important role in closing some of these gaps, which to some degree
serve as an indicator of where we are in terms of financial inclusion.”
“As more people migrate to digital platforms to conduct
their day to day banking and general lifestyle management, it’s only a matter
of time before we see a major shift in how people send and receive money. The
convenience of accessing a solution like eWallet via an App is absolutely
critical,” he said.
In South
Africa, the cost of data has been one of the
barriers to rapid digital migration and the fact that major banks are zero
rating their apps is a massive boost for consumers.
FNB recently announced its move to zero rate its banking app
across all major networks, stating that data should not be a barrier to
convenient and safe banking.
“The future is mobile,” said Madikiza. “The manner in which
people manage and move money will be heavily influenced by the technology they
have at their disposal.
While channels such as branch banking are still important to
many consumers who want the assurance of human interaction, we expect many more
to start showing greater appreciation for the benefits of safer and convenient
channels such as accessing eWallet through the FNB App,” he said.