First National Bank revealed this week the latest version of the FNB app, which has a series of new features, including the ability to make contactless payments. Currently, only FNB users with Android devices that are near-field-communication-enabled can use the contactless feature, called FNB Pay, which the bank describes as “the distinctive and pioneering feature” of the updated application.
The chief executive of FNB Premium, Raj Makanjee explained that once a user has downloaded the latest version of the app, FNB pay is automatically available and can be linked to any FNB card. He went on to say that the timing of contactless technology in South Africa is “perfect” because local merchants are gradually increasing contactless infrastructure.
Makanjee stated that this was one of the reasons all the new or replacement cards that FNB are issuing are contactless cards. The app’s functionality makes it effortless for customers to pay for goods & services. Not only this but it also helps merchants to process transactions much quicker, thus assisting in reducing queues. Another new feature of the FNB app is Smart in Contact, which allows clients to customize how they receive notifications from the bank. In other words, you can determine when and how often you receive notifications of transactions on your accounts, and the value of these transactions.
Smart in Contact also replaces SMSed one-time passwords (OTPs) as a secure way to approve, reject or report fraud for any online banking transactions. Log-ins from unknown or suspicious devices also triggers a Smart in Contact notification for the customer to verify or reject the device. The updated app also features 1-touch Report Fraud, which lets you report fraud via the app, at the touch of your smart phone’s screen.
FNB clients who qualify for premier and private banking services will also be able to use Secure Chat to inquire about services or send instructions to their private banking support team, all done through the app after securely logging in.
Jacques Celliers, FNB’s chief executive, says the bank views the app as a “gateway into the future of banking”. The app gives customers more control over their accounts, better security and saves costs.