A couple of weeks ago my bank released an update for their already popular mobile app that allows payment by finding other people by using location based services. The app tries to find other users in your vicinity and allows you to transfer money to and from each other (Depending on whether you have an account with FNB) easily without knowing each others banking details. Below are the steps required (Using the iOS version):
1.) Open the FNB app on your device (Make sure that the app is allowed to use Location Based Services)
2.) Select the Geo Payments option. Then hit the settings button to choose your default account if you haven’t already:
3.) Choose either to Pay or Receive payment, the app will now try to find either the payee or recipient:
4.) Once a valid user has been found you can select them and continue with the rest of the transaction:
FNB has been pushing awesome innovations with regards to mobile banking and I have yet to see one of the other banks making any impact in this space in the near future.