Coen Welsh | Nov 14, 2017 | 0
FNB launches new service
The eWallet service allows any FNB customer with a cellular phone to send money to another person who either has or does not have a bank account or card anywhere in the country. The receiver can again go to any FNB ATM countrywide and either withdraw the cash or send the money to another person.
“FNB eWallet is a service that promises to curb the issue of the large number of unbanked Namibians.
With the help of eWallet the majority of unbanked Namibians will now be able to have access to banks and banking services without having a bank card or a bank account,” said FNB CEO, Ian Leyenaar.
Leyenaar said the new service is unique and plays a critical role in the financial inclusion objective by providing customers who do not want or cannot afford access to bank accounts with the ability to use the eWallet functionalities.
“In essence this service utilises almost 200 FNB ATMs nationwide to give access to cash and banking facilities to the unbanked. eWallet is for everyone and will be brought to Namibia by FNB Namibia. FNB Namibia shares the aims and dreams of the Government of Namibia for Namibia to have healthy, well educated, skilled, pro-active and financially stable people with a broad range of talents and display a positive attitude towards themselves, their fellow citizens, their country and broader humanity by the year 2030,” he said.
According to the Deputy Minister of Finance, Carl Schlettwein, the launch of the eWallet is a typical example of commitment by the Bank to walk the talk embodied in the Financial Sector Strategy and Industry Charter. Adding that the eWallet product is a clear demonstration that the Bank is ready to forge ahead with product innovation to expand access.
He called on other banks and service providers in the financial sector to join in these never done efforts and drive the financial inclusion agenda by tapping the unbanked market.
“I call on the financial services industry to view financial inclusion as a public good, which is as important and basic as access to safe water and primary education. Financial inclusion has a special significance for a growing economy like Namibia, as it brings the large segment of the productive sectors of the economy under formal financial network. This could unleash their creative capacities and open doors to wealth creation opportunities,” said Schlettwein.