App from Absa hits R1bn in transactions

Absa’s innovative pay anyone, anywhere, anytime App has proven extremely popular, ringing up R1 billion in transactions and 100 000 downloads since launch only 50 days ago – remaining one of the most popular financial Apps in South African App Stores.

“This is a proud achievement as the download number shows how much demand our App has generated. The value of the transactions on our App is an indication that our customers have embraced it as a solution to perform their banking on-the-go,” says Arrie Rautenbach, Absa Head of Retail Banking.

He said he was particularly proud that Absa had been able to answer its customers request for a common experience across all its digital platforms, while addressing the unique capabilities of different platforms and the diversity of the Android and Apple smartphone/tablet market. “This is in line with our focus on the customer that seeks to make our customers’ lives much easier.”

Providing a unique user experience and visually rich interface, the App from Absa is the first real, native financial services app for smartphones and tablets in South Africa available for both retail and business customers.

From the home-screen – without having to login – the App provides a number of useful calculators including lump sum investment and savings calculators which give customers a quick glance of their investment returns. There is also a real-time currency indicator.

The bank also announced that simultaneous updates of its App on Apple App Stores provided a number of modifications that give a richer experience to iPhone 5 users, while the App for Blackberry Z10 users had been released.

“We’re making banking simpler and more convenient. As promised, today we gave BlackBerry Z10 users access to our App, while the wait is almost over for all other Blackberry users,” says Rautenbach.

He adds: “We plan to regularly expand the functionality of our App and deliver cutting-edge technology which enables our customers to have greater control and access to their finances.”

Rautenbach concluded, “The payments landscape continues to transform the banking industry, I am convinced we are only at the beginning and the future will be extraordinary.”