By: Lonwabo Mtyeku | Pictures: Supplied – FNB
Seen Here: A merchant demonstrates the new Speedpoint® device from FNB, showcasing enhanced payment functionality, real-time sales visibility and streamlined settlement features designed to help South African businesses improve cashflow and manage day-to-day operations more efficiently. Photo Credit: FNB.
03 March 2026 – Johannesburg
In an economy defined by deep structural inequality and uneven access to capital, FNB Business has unveiled enhancements to its Speedpoint® platform aimed squarely at one of the most persistent constraints facing South African enterprises: cashflow management.
Announcing the changes, FNB Business CEO Ghana Msibi positioned the move as part of a broader strategy to support businesses in the realities they face today, rather than focusing solely on long-term digital transformation narratives.
“Across the country, business owners operate in two worlds at once: the future they are trying to build and the resource-constrained present they must navigate,” said Msibi. “Our priority is supporting businesses where they are today and using that as the foundation for future growth.”
Seen Here: Netsai Ngidi -Product Head for Merchant Services at FNB Photo Credit: FNB.
Payments as a competitiveness lever
As consumer payment behaviour continues to evolve — with rising adoption of digital wallets, card payments and alternative settlement mechanisms — the infrastructure that enables businesses to get paid has become a core determinant of competitiveness.
FNB has long played a role in alternative payments, including eWallet, and is now repositioning Speedpoint® as more than a payment acceptance tool. The platform is being structured around four core merchant priorities: certainty, simplicity, predictable settlement and operational visibility.
According to John Mlangeni, CEO of FNB Merchant Services, the redesign reflects a pragmatic understanding of merchant realities.
“Merchants don’t wake up thinking about value propositions — they’re looking for real-world answers to the business challenges they face,” he said.
Seen Here: Ebert Strydom – Executive Head for Payments Personal and Private at FNB. Photo Credit: FNB.
Transparent pricing aligned to trading patterns
A central pillar of the update is a clearer pricing framework. The new structure seeks to simplify how merchants understand the cost of acceptance, while linking commission rates more closely to trading activity.
Device options have been structured to reflect different trading environments, with flexible purchase or rental models:
- Speedpoint® Go: Buy for R699 or rent at R230 per month
- Speedpoint® Pro: Buy for R1 499 or rent at R320 per month
- Speedpoint® Tablet: Buy for R4 999 or rent at R500 per month
- Speedpoint® Counter: Buy for R7 499 or rent at R920 per month
The commission model is designed to reward scale, with merchants paying proportionally less as transaction volumes increase. From 4 March 2026, all existing Speedpoint® merchants will automatically transition to the new pricing structure, resulting in immediate reductions in commission rates.
Msibi underscored that the objective extends beyond marginal fee adjustments.
“SMEs don’t need more complexity; they need certainty. Pricing must be clear, settlement must be predictable, and the tools must help businesses run better and earn more.”
Seen Here: Panel Discussion _Commercial & Business Executives.Photo Credit: FNB.
Reducing friction in day-to-day operations
Beyond transaction processing, Speedpoint® now integrates tools intended to support daily operational efficiency and ancillary revenue generation. These include prepaid products, voucher and ticket sales, real-time sales and stock visibility, online selling capabilities, and access to FNB Cash Advance.
The Cash Advance facility remains a notable feature in the SME funding landscape. Since its introduction, 65% of payouts have been below R100 000, with 31% directed to businesses generating annual turnover under R1 million. Repayments are structured as a fixed percentage of daily sales processed through Speedpoint® devices, aligning funding obligations with cash inflows and mitigating repayment shock.
Lowering barriers to entry
Recognising that many informal and micro-entrepreneurs hesitate to formalise due to cost barriers, FNB Business continues to offer entry-level and growth-stage accounts.
- First Business Zero: An entry-level account with no monthly account fees, designed for sole proprietors and start-ups beginning their digital trading journey.
- Business Gold Aspire: Priced at R49 per month, targeting township and micro-businesses transitioning into more established trading models.
This tiered ecosystem reflects an intent to create continuity — from early-stage entrepreneurs to higher-volume merchants — within a single integrated banking and payments framework.
A broader economic imperative
In a country where small and medium enterprises are widely recognised as a key driver of employment and economic participation, access to efficient payment systems and working capital is not merely a commercial concern but a developmental one.
FNB’s repositioning of Speedpoint® signals a shift from payments as a standalone service to payments as infrastructure — a mechanism through which liquidity, operational data, and funding access converge.
“Our focus is not on fees alone, but on lowering the real cost of doing business,” Msibi concluded. “If we can help merchants keep more of their money and improve their cashflow stability, we strengthen the broader economy in the process.”
As payment ecosystems continue to digitise, the competitive frontier for banks may increasingly be defined not by product proliferation, but by how effectively they simplify commerce for businesses navigating South Africa’s complex economic terrain.
