FNB CEO Twitterview

Following the announcement of FNB’s new GeoPayment solution, ITWeb interviewed CEO Michael Jordaan live on Twitter and invited followers to take part. Below is a transcript of the Twitterview. Let us know in the comments section if you’d be interested in joining us for similar Twitter interviews in the future.

TWeb: And we’re off!

ITWeb: @ MichaelJordaan Do you have to bank with FNB to use Geo Payments? What are the limitations if you don’t bank with FNB?

Michael Jordaan: FNB App customers can pay & receive. Non-FNB can set up eWallet to receive.

ITWeb: Will FNB be looking at similar cashless payment solutions for non-smartphone users?

Michael Jordaan: FNB has other cashless payment solutions, but Geopay with LBS [location-based services] is specifically for smartphones.

ITWeb: @ WaltersMPowerFM asked: “Any chance of Geopay for WindowsPhone for us 2%ers?”

Michael Jordaan: Looking at Windows App but not imminent, development driven by demand.

ITWeb: What security measures are in place to protect users?

Michael Jordaan: Users identify themselves to each other, password protection and backend security in place. Don’t disclose password.

ITWeb: How come Geo Payments is embedded within the FNB App rather than being standalone?

Michael Jordaan: FNB App is platform for many existing and future innovations, because FNB Geopay is transactional it belongs there.

ITWeb: Is FNB Geopay meant to take the place of NFC or is FNB still working on an NFC payment option?

Michael Jordaan: FNB Geopay is a contactless P2P solution prior to ecosystems for NFC being ready. Market ready for P2P and App platform exists.

ITWeb: @ alanqcooper: #askMJ @ ITWeb Do you see future for NFC in payments or is it a tech dead-end?

Michael Jordaan: Neither, niche application until standardised.

ITWeb: @ aubrey_muvhango asked: #AskMJ What’s the transfer limit on #FNBGeopay?

Michael Jordaan: R35 000 default payment limit.

ITWeb: What is the potential of #FNBGeopay for small businesses?

Michael Jordaan: P2B very interesting prospect but for now P2P.

ITWeb: @ pantsula asked Plans to deploy the #FNBGeoPay to retail? How bout earning eBucks on transactions?

Michael Jordaan: One step at a time…

ITWeb: @ ck_memphis asked can one add beneficiary to the #FNBGeoPay service/app for people who you pay regularly?

Michael Jordaan: FNB Geopay eliminates the need to add recipient but once payment made u can save recipient.

ITWeb: Final question from us: What’s next for FNB? Thanks for your time @ MichaelJordaan.

Michael Jordaan: Priority: just keeping customers happy. Over and out.