Big four bank Absa has expanded its mobile banking platform by allowing South African cellphone users on the bank's rewards programme to redeem cash via Absa.mobi.
According to the bank, this is a first for SA and means Absa rewards customers can now instantly redeem cash rewards on cellphone banking, as well as view their cash balance.
Last year, Absa introduced a platform on Internet banking whereby customers could redeem cash rewards balances online and then transfer into Absa investment products, Absa transactional accounts, charities, shopping mall vouchers and airtime vouchers.
Arrie Rautenbach, Absa's head of retail banking, says the bank's online redemption offer - in place since October - has seen more than R10 million being redeemed online to date.
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