By: Lonwabo Mtyeku – Community Newsroom Pictures: Sourced
Johannesburg, 17 December 2025 — First National Bank (FNB) customers have sent an impressive R42 billion via eWallet over the past 12 months, underscoring South Africa’s accelerating shift towards digital, mobile-first financial solutions. During the same period, 69 million eWallet transactions were processed — an average of 1.5 million transactions every month — firmly positioning eWallet as one of the country’s most widely used digital money-transfer platforms.
The sustained growth in eWallet adoption reflects more than just convenience. It signals a fundamental change in how South Africans send, receive, and manage money — particularly for individuals who have historically been excluded from traditional banking systems.
“The remarkable growth in eWallet transactions shows that our customers truly value smart, simple ways to transact,” says Hema Morar, Executive Head of FNB eWallet. “It confirms that our focus on innovation rooted in help — making financial services more accessible, intuitive, and inclusive — is delivering real value.”
Beyond Transfers: A Fully Integrated Digital Ecosystem
While sending money remains central to eWallet’s appeal, customer behaviour over the past year reveals a much broader engagement with FNB’s digital ecosystem. In addition to the 69 million eWallet sends, customers recorded:
- 69 million ATM cash withdrawals
- 1.8 million Cash@Till transactions
- 18.8 million retailer point-of-sale purchases
- 11.8 million prepaid purchases, including airtime, data, and electricity
- Nearly R1 million in prepaid vouchers, following the launch of this feature in February 2025
These figures reflect how eWallet has evolved from a simple money-transfer tool into a versatile digital wallet supporting everyday financial needs.
Driving Financial Inclusion at Scale
FNB’s eWallet platform continues to play a pivotal role in advancing financial inclusion, enabling recipients — even those without bank accounts — to access funds securely and participate more fully in the economy.
“The growth in transactions is a clear sign of the real impact we are making in people’s lives,” says Nthabiseng Manamela, Executive Head of FNB Personal Segment Advisory. “Our solutions are designed to meet customers where they are — accessible, practical, and aligned with how South Africans live and transact daily.”
Recipients can cash out eWallet funds at FNB ATMs, standalone merchants, fuel stations, and an expanding network of retail partners including Pick n Pay, Checkers, Shoprite, Usave, PEP, with Ackermans joining the network by the end of November 2025. Customers can also send eWallets of up to R15,000, depending on their product offering.
Digitising Cash Through Vouchers
A significant innovation in 2025 was the launch of eWallet Vouchers, allowing recipients to purchase digital vouchers directly via the eWallet USSD string. These vouchers can be redeemed at a wide range of service providers, including Netflix, Showmax, Spotify, Uber, Sony PlayStation, and 1Voucher Blu.
By June 2025, 213,950 vouchers had been purchased through eWallet, amounting to R25.3 million in value. This feature supports FNB’s broader cash-digitisation strategy, helping customers transact more safely while reducing reliance on physical cash.
“The versatility of eWallet means customers can do far more than just send money,” Morar adds. “They can shop, pay, and manage essential expenses seamlessly — all through secure digital channels.”
A Recognised Icon in Digital Banking
FNB’s eWallet has consistently been recognised for its impact and innovation. The platform was named an Icon Brand and category winner in Money Transfers at the 2022/2023 Ask Afrika Icon Brands Benchmark Survey, cementing its status as a trusted household financial tool.
Building Inclusive Growth Through Digital Innovation
As South Africa continues to navigate economic pressures and evolving consumer needs, platforms like eWallet are proving that inclusive digital banking is not just possible — it is scalable and transformative.
“Nations grow and advance when financial inclusion becomes the norm,” Manamela concludes. “By expanding our digital offerings, we are empowering communities, enabling economic participation, and helping to build a more resilient financial future for all South Africans.”
With R42 billion already sent and millions of transactions flowing through its platform, eWallet is no longer just a product — it is a cornerstone of South Africa’s digital economy.
