IT in Banking

FNB CEO Twitterview

Johannesburg, 10 May 2012
Read time 2min 20sec

Following the announcement of FNB's new GeoPayment solution, ITWeb interviewed CEO Michael Jordaan live on Twitter and invited followers to take part. Below is a transcript of the Twitterview. Let us know in the comments section if you'd be interested in joining us for similar Twitter interviews in the future.

ITWeb: Context: FNB launched a new service this morning called #GeoPayments. You can read more about it here:

ITWeb: And we're off!

ITWeb: @ MichaelJordaan Do you have to bank with FNB to use Geo Payments? What are the limitations if you don't bank with FNB?

Michael Jordaan: FNB App customers can pay & receive. Non-FNB can set up eWallet to receive.

ITWeb: Will FNB be looking at similar cashless payment solutions for non-smartphone users?

Michael Jordaan: FNB has other cashless payment solutions, but Geopay with LBS [location-based services] is specifically for smartphones.

ITWeb: @ WaltersMPowerFM asked: "Any chance of Geopay for WindowsPhone for us 2%ers?"

Michael Jordaan: Looking at Windows App but not imminent, development driven by demand.

ITWeb: What security measures are in place to protect users?

Michael Jordaan: Users identify themselves to each other, password protection and backend security in place. Don't disclose password.

ITWeb: How come Geo Payments is embedded within the FNB App rather than being standalone?

Michael Jordaan: FNB App is platform for many existing and future innovations, because FNB Geopay is transactional it belongs there.

ITWeb: Is FNB Geopay meant to take the place of NFC or is FNB still working on an NFC payment option?

Michael Jordaan: FNB Geopay is a contactless P2P solution prior to ecosystems for NFC being ready. Market ready for P2P and App platform exists.

ITWeb: @ alanqcooper: #askMJ @ ITWeb Do you see future for NFC in payments or is it a tech dead-end?

Michael Jordaan: Neither, niche application until standardised.

ITWeb: @ aubrey_muvhango asked: #AskMJ What's the transfer limit on #FNBGeopay?

Michael Jordaan: R35 000 default payment limit.

ITWeb: What is the potential of #FNBGeopay for small businesses?

Michael Jordaan: P2B very interesting prospect but for now P2P.

ITWeb: @ pantsula asked Plans to deploy the #FNBGeoPay to retail? How bout earning eBucks on transactions?

Michael Jordaan: One step at a time...

ITWeb: @ ck_memphis asked can one add beneficiary to the #FNBGeoPay service/app for people who you pay regularly?

Michael Jordaan: FNB Geopay eliminates the need to add recipient but once payment made u can save recipient.

ITWeb: Final question from us: What's next for FNB? Thanks for your time @ MichaelJordaan.

Michael Jordaan: Priority: just keeping customers happy. Over and out.

Related stories:

FNB innovates with GeoPayments

FNB caters electronically for unbanked

See also