8 July 2010 The growing use of mobile phones has opened the door for innovative financial transactions, says First National Bank, with consumers now able to use their mobiles as virtual wallets, giving them the ability to transact in even the remotest of locations. “The power of telephony has always been underestimated, with the launch of mobile phones in Africa, no one expected the radical change it would create, and recently Africa has become one of the fastest growing mobile markets on the globe,” said FNB Smart Services CEO Yolande van Wyk in a statement this week. According to FNB, its eWallet solution specifically, has seen a remarkable up-take in a very short period, predominantly because it speaks to people’s needs to replace cash easily and safely. Once there is a complete network providing access into this ecosystem, true cashless transactions become a reality, said Van Wyk. “It also dramatically reduces the costs of transactions as the negation of bricks and mortar services reduces the total cost of service provision; a cost saving that is then translated back into a benefit for the customer.” Since its inception in November 2009 more than 100 000 eWallets have been created with over R80-million been sent to friends and family from FNB accounts. According to FNB, while the service itself sounds simple, the ecosystem behind it is what really makes it tick. It is the collective companies, networks, and agents that work behind the scenes that bring the services into the hands of the consumer. Significant growth Access anytime, anywhere To date, FNB Smart Services has seen a significant growth in demand for paid-for content services, airtime transfer, mobile banking, merchant payments and even person-to-person money transfers. With the advent of various m-commerce models like mobile money and mobile banking, access to and the facilitation of financial transactions and financial information has become a method and means of business for African entrepreneurs. There is a need to place emphasis on partnerships, investigate interoperability, deploy incentives for users and partners, and deploy business models that reward qualified risks, Van Wyk explained. Van Wyk said that to effectively bring mobile banking solutions to the African market, service providers needed to bring the customer to the centre of the environment and make the stakeholders secondary. Customer-centric approach “The reality is that mobile money offers everyone access, no matter the physical infrastructure around them, or their income bracket,” the statement read. Mobile banking services is rapidly creating a service driven industry allowing consumers access to their financial information anytime, anywhere. SAinfo reporterWould you like to use this article in your publication or on your website? See: Using SAinfo material
AJ Edu. Photo by Randolph B. LeongsonFor AJ Edu, joining Gilas Pilipinas on Tuesday’s evening practice session was an eye-opener of sorts.“It’s amazing. This is something that people dream of, an opportunity to come and train with the best players in the Philippines. It’s really amazing,” said the 17-year-old.ADVERTISEMENT The Fil-Nigerian Edu was invited by Gilas team manager Butch Antonio to participate in the national team practice Tuesday at Meralco Gym, where he rubbed elbows with a number of Gilas pool members.“I was nervous for it, but I was ready and I was really excited for it. I’m really happy with how I trained,” the 6-foot-10 prodigy said.FEATURED STORIESSPORTSSEA Games: Biñan football stadium stands out in preparedness, completionSPORTSPrivate companies step in to help SEA Games hostingSPORTSMalditas save PH from shutoutThough Tuesday’s session was just a short one, coach Chot Reyes noted it’s still a huge morale-booster for the young guys, especially for Edu.“We always like to do that with the younger guys. We always want to expose them to the national pool and we’ve been looking at him for a long time. That’s why we wanted to get him here and practice with us,” the outspoken mentor said. 1 dead in Cavite blast, fire Jordan delivers on promise: 2 Cobra choppers now in PH Smith shows big heart as he continues to push past pain for TNT WATCH: Firefighters rescue baby seal found in parking garage MOST READ Heart Evangelista admits she’s pregnant… with chicken World’s 50 Best Restaurants launches new drinking and dining guide Edu said that he won’t have any second thoughts if he gets an invite anew to join the national team practices in the future.“I might be coming again. Hopefully, it will become something regular in the future. Right now it’s just an experience,” he said.For now, Edu is focused on the 2017 Fiba 3×3 Under-18 World Cup in Chengdu, China from June 28 to July 2, where he will represent the country alongside Encho Serrano, Rhayyan Amsali, and Juan Gomez de Liaño.The Philippine team was slotted in Pool A, where it will clash against world number one Netherlands, Poland, Turkmenistan, and Israel.“We’re really excited about it,” shared Edu. “I got really good teammates, we think we can do better in previous tournaments.”ADVERTISEMENT Sports Related Videospowered by AdSparcRead Next View comments Don’t miss out on the latest news and information. Lacson: SEA Games fund put in foundation like ‘Napoles case’ Heart Evangelista admits she’s pregnant… with chicken LATEST STORIES What ‘missteps’? Robredo: True leaders perform well despite having ‘uninspiring’ boss PLAY LIST 02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games01:44Philippines marks anniversary of massacre with calls for justice01:19Fire erupts in Barangay Tatalon in Quezon City01:07Trump talks impeachment while meeting NCAA athletes02:49World-class track facilities installed at NCC for SEA Games
As CWG approaches, hygiene is uppermost on the mind of some.Urban Development Minister S Jaipal Reddy on Saturday said steps were being taken to prevent the outbreak of dengue at the Commonwealth Games venue.”It (dengue) is a seasonal outbreak. Fumigation and other steps required to tackle it are being taken,” he told reporters after reviewing the Games Village and other facilities in New Delhi.Commenting on facilities at the Village and flats meant for athletes, Reddy said, “It is the best ever in the history of Commonwealth Games. It is world class…can be compared with the best of Olympic villages in the world.”Reddy, who visited the dining hall, practicising venues, swimming poll and other facilities, said it is for the first time that practicing venues are near to the Games Village.”However, facilities like dining hall is temporary in nature but other sports facilities will stay as a permanent legacy for Delhiites…we are quite proud that we have done it,” he said.The dining hall has a capacity to serve 3,000 people at a time. 2,500 people have been deployed to prepare 150 dishes during the games.Asked whether Games projects were still behind the schedule, Reddy said, “There was some initial delay but it was compounded by rains. But now, we are on the track.”He said all venues will be handed over to the security agencies by Monday.Hygiene at CWG Village bigger concern: Oz coachAustralia’s swimming coach Leigh Nugent says hygiene at the Commonwealth Games Village in Delhi is a bigger concern for him than the terror threats to the October 3 to 14 event.advertisement”You can go to a Western-style country and still get sick, but on the subcontinent they have bugs we have no resistance to,” Nugent was quoted as saying by The Daily Telegraph, a Melbourne report said.”Things like vomiting and diarrhoea can run rampant through a team, wreaking havoc on months of preparation and destroying medal chances.”So you have to be extra vigilant and make sure you have as many preventative measures in place as you can.”Nugent said all the Australian swimmers have been given hand-sanitising gel, probiotics to boost immunity and long-sleeved shirts, long trousers and bug repellent plus mosquito zappers to guard against diseases such as dengue and malaria.Roy raps govt for “splurging” tax payers’ money in CWGMagsaysay awardee and member of powerful National Advisory Council Aruna Roy on Saturday lambasted the government for “splurging” tax payers’ money in the name of Commonwealth Games.Addressing a public meeting on India’s performance in meeting UN’s Millennium Development Goals (MDGs), Roy said although the government always has resources for such events, it often cites fund crunch for social welfare schemes.”Huge sums of money are being spent for Commonwealth Games. There is no shortage of resources. But, when it comes to improving the plight of the poor, there is always a fund crunch,” Roy, member of the Sonia Gandhi-led NAC said.She also slammed the government for failing to distribute food items when millions of tonnes of food grain are rotting in warehouses.