FNB and PayPal have announced an expansion of their partnership to enable access to PayPal via more of the bank’s digital channels. The move allows FNB and non-FNB users to use PayPal to send and receive money within the FNB App.
FNB was the first bank in South Africa to provide customers with access to PayPal in 2010, and now it is the only bank in the country that provides access within its app.
Sizwe Nxedlana, FNB Private Segment CEO, highlighted that the expansion will increase clients’ ability to participate in global financial activities such as e-commerce. The app’s digital channels are already trusted by millions of clients, and the integration with PayPal will accelerate adoption of the payment service even further.
Mark Mwongela, PayPal’s Regional Director for the Middle East and Africa, said that the relationship with FNB has been crucial for the adoption of PayPal in South Africa over the last decade, and the broadening of the partnership represents their continuous commitment to offering the best possible experience for their users.
Anthony Grant, the CEO of FNB Foreign Exchange Product House, emphasised that the app is their clients’ preferred conduit for foreign exchange transactions, and they are excited to provide access to PayPal within the app. PayPal is a globally recognised brand that plays a key role in enabling individuals and businesses to easily pay or get paid. The onboarding process for PayPal on the FNB app has been simplified to make registration, top-ups, and withdrawal processes as simple as possible for users, with fewer clicks, and to give customers confidence that their transactions are safe.
Enabling PayPal on a user’s profile only takes a few steps. Users can go to the FNB App’s Forex tab, link their PayPal profile, verify their information, and enable PayPal permissions before agreeing to the terms of service. Over the years, FNB’s efforts to continue innovating for ease of access to foreign exchange payments have earned them awards such as “Best Foreign Exchange Provider” in the country and on the continent. Recently, they were crowned the “World’s Strongest Banking Brand” in the Brand Finance Banking 500 2023 report.
