How could we calculate how many First National Bank (FNB) customers sport Apple devices? Easy. Just launch Apple Pay functionality and see how many sign up. According to FNB’s latest report, the service gained 100,000 local users in its first week since launching on their platform.
“FNB’s addition to its digital payments’ ecosystem has kicked off with positive momentum as over 100 000 customers add Apple Pay to their FNB Credit, Debit, Fusion, and Virtual cards in the first week,” a press release explains.
Apple Pay is a digital payment service that allows users equipped with iPhones or Apple Watches the ability to pay securely through a variety of methods. This includes online payments, as well as terminal purchases in-store. FNB customers now have the option to tap their i-device in lieu of the traditional bank card.
“We continue to accelerate efforts to diversify our digital payments ecosystem to provide a convenient and secure experience across all our payments solutions,” says Chris Labuschagne, CEO of FNB Card.
The bank says 700,000 of its customers own iPhones, which means this first 100k is just the tip of the financial iceberg for the bank.
Apple Pay in SA
Launched in the country March 2021, Apple Pay has seen major growth under users of Apple-labeled devices. FNB is just the latest local bank to support the secure digital transaction service.
As banking becomes an increasingly digital industry, tech corporations like Apple and Google have realised they have to capitalise on it ASAP. Launched as a means to make payments for apps in its operating system, Apple Pay allows users the ability to add a debit or credit card to the digital Apple Wallet on an iPhone, iPad or Apple Watch.
Once your hard-earned money is sitting in the digital Apple Wallet, there are a few things that you can do with it. First, you can make payments toward in-app purchases on your i-devices. Secondly, you’ll be able to pay for real-world things using NFC (near-field communication) tech built into Apple’s newer iPhones and Apple Watches.
It also allows for far easier online shopping, if you’re using the Safari browser on iOS or MacOS systems — here you’ll be able to quickly make payments using biometric authentication through the device on supported websites.
Setting up Apple Pay in the FNB app is fairly straightforward, and the bank has ironed out some of the glitches experienced during its launch. When in the FNB app, head to ‘Cards’, choose to create a new Virtual Card specifically for Apple Pay or choose an existing VirtualCard, then select ‘Add to Apple Wallet’ and follow the instructions.