First National Bank (FNB) has added another element to its cellphone banking, allowing account holders to buy mobile content and applications.
The initiative, in partnership with content provider Exactmobile, follows the success of buying prepaid airtime through the mobile channel, says Len Pienaar, CEO of FNB`s Mobile and Transact Solutions division.
He says it made sense to expand the service to allow for buying other products using the same channel.
The initiative works using SMS messaging, with clients sending an SMS instruction to FNB to debit a specified amount from the account.
Exactmobile`s systems are notified and the originating cellphone is credited with "Exactcredits", which can be used to pay for mobile content or software bought via Exactmobile`s Web site or WAP portal.
Pienaar says the service is also available through FNB`s interactive menu platform.
Exactmobile CEO Davin Mole says the SMS model removes the need for customers to top up their airtime before buying content.
"Some of the software for mobile phones is becoming quite expensive. For example, an annual anti-virus software licence for a mobile phone costs R250. Most users don`t have that kind of account balance on their prepaid account, which makes using a prepaid account for larger purchases problematic."
Pienaar says the service will be expanded in future to buy other products such as film tickets, without having to own a credit card or being limited to price bands as with the premium SMS model.
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