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Bank launches two new payments solutions for SMEs

Home Business Management Finance & Investment Bank launches two new payments solutions for SMEs

FNB is expanding its payments ecosystem with two solutions aimed at small and medium enterprises (SMEs).

According to CEO, Jacques Celliers, FNB WebStore, and FNB Android Speedpoint point of sale (POS) device will offer a simple, easy and cost-effective way for businesses in South Africa to accept payments from customers.

“Over the last decade the payments industry has seen a dynamic shift – from the internet and smartphones driving the adoption of mobile payments, end of cheques as a form of payment, to the current pandemic-induced reduction in the transactional usage of cash, as well as the boom in eCommerce,” Celliers said.

“Our payments innovations are in tune with the step-change in digital adoption and preference for contactless methods of transacting among customers, while enhancing efficiency and user experience.”

Celliers said the bank aimed to innovate in a manner that reduces complexity and offers customers more choice and convenient solutions through its trusted digital platform.

FNB WebStore will provide businesses with a fully functional eCommerce website. While external developers and Content Management Systems (CMS) help a business to create their website, it can often be a complicated and lengthily process.

Gordon Little, the CEO of FNB Commercial said this means businesses don’t need design or development skills, won’t carry any costs of hosting or partner integrations, or spend time on writing basic web content and creating web optimized designs. The merchant will have payment capability as part of the package for credit and debit card transactions in a secure manner.

The websites are built on the WordPress and WooCommerce platforms, with designs based on Divi themes and then tailored for the business’ specific needs and desires.  The solution is also integrated with a courier service for product deliveries to customers, as well as integration into social media and basic search engine optimisation (SEO) for marketing the site.

“Creating an online shop is often complicated and expensive, especially for a business who may not have the skills or experience to do it,” Little said.

“We hold the merchant’s hand through the process and guide them with creating and designing a modern website, uploading their products, provide support, and connect them to a payments and delivery integration.”

The bank’ CEO of Retail and Private Banking Raj Makanjee said the new affordable FNB Android POS device had been upgraded with innovative technology that merchants need to keep their businesses up to date and running smoother.

“This device is designed with business’ needs in mind and includes better functionality and usability,” he said.

Additional benefits include a full touch screen for more visibility and information displayed; 4G, GPRS, BT and WIFI connectivity; and longer battery life.

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