First National Bank (FNB) has launched a new iteration of its eWallet service, integrating it directly with WhatsApp to broaden access to financial services for South Africa’s unbanked and underbanked populations. The move allows users to create and manage eWallets directly through the messaging application, eliminating the previous requirement of receiving a transfer from an existing FNB customer to initiate an eWallet.
The bank announced the update on March 11, 2026, framing it as a key step in simplifying financial inclusion. According to Hema Morar, FNB eWallet executive head, the integration is designed to lower barriers to entry for individuals who may lack traditional forms of identification or proof of address often required to open conventional bank accounts.
“We have created a WhatsApp number (087 392 5538) where the customer simply says ‘hi’ to the number, and then we will support the customer to register themselves,” Morar told ITWeb. The service aims to provide a digital entry point into formal financial services for millions of South Africans, particularly those in the informal economy.
FNB reported that over R13 billion was transacted through eWallet in the past year, with 69 million transactions processed. The bank anticipates that WhatsApp integration will significantly increase adoption, given that more than 90% of eWallet users are already active on the platform, according to TechCentral.
The revamped eWallet offers a range of functionalities beyond basic money transfers. Users can now make instant payments, purchase airtime, data, and electricity, and withdraw cash at participating retailers including Shoprite, Checkers, Pick n Pay, PEP, and Ackermans. A new micro-credit facility, offering advances ranging from R50 to R500, is also available based on individual customer eligibility and transaction history.
The expansion of eWallet’s services is intended to address a key challenge: many recipients immediately withdraw funds upon receipt and do not meet the criteria for full bank accounts. By expanding in-wallet services, FNB hopes to encourage greater engagement with the digital financial ecosystem. The platform specifically targets informal traders, seasonal workers, and those in informal settlements who often lack the documentation required for traditional banking.
FNB’s move comes as South African banks increasingly compete in the cardless cash transfer space, with Absa CashSend, Standard Bank Instant Money, and Nedbank Send-iMali offering similar services. The broader trend reflects a national push toward digital payments and financial inclusion, leveraging the widespread adoption of mobile technology.
The bank has not yet announced specific targets for eWallet user growth following the WhatsApp integration, but indicated that the initiative is part of a long-term strategy to expand digital financial access across South Africa.
