Gen Z, millennials still see value in talking
Mobile talk plans have proven to still be popular among millennials and Generation Z on the FNB Connect network, the bank says.
FNB Connect launched as a mobile virtual network operator in June 2015, making FNB the first bank in the country to establish a mobile offering. In March last year, the bank said it had over 670 000 active users on its network.
In its latest update, FNB Connect says it recorded nearly a third more outgoing calls for customers since the launch of Talk Max in October 2019, with 55% of the total hours clocked up by Gen Z and millennials.
Len Pienaar, CEO of FNB Connect, explains: “We are fascinated by our findings regarding the Generation Z and millennial customers’ talking behaviour. We know that data is one of the most important things to them, but this is proving that talking remains a very important need in everyone’s life, irrespective of age.
“In these challenging economic times, customers are desperate for solutions that will assist them to manage their already stretched budgets better. We have put the power back into their hands by offering them unique month-to-month TopUp plans that helps them save and control their telco spend,” adds Pienaar.
FNB Connect says the “Talk Max” TopUp plans offer customers unlimited voice minutes on calls to any local network, 24 hours a day.
Although both plans offer unlimited voice minutes, FNB says there is a fair usage policy that customers need to adhere to. “Adhering to the fair usage requirements is important to ensure the products are used by our customers for their everyday cellphone needs and not misused for commercial or other purposes,” states Pienaar.
Meanwhile, the bank also announced Gauteng, Western Cape and KwaZulu-Natal (KZN) as top eWallet provinces.
In total, FNB customers sent nearly R3 billion worth of eWallet funds over the festive period, recording a 20% spike in comparison to the same time in 2018, according to the bank.
Gauteng accounted for over R1 billion worth of eWallet transactions, followed by KZN with over R300 million and Cape Town with close to R200 million.
FNB Consumer CEO Christoph Nieuwoudt states: “We are extremely impressed that consumers continue to use the most efficient ways to send money to family and friends. It comes as no surprise that Gauteng took the lead in send-money transactions as it’s known as the country’s economic hub and has a highly economically active population.”