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Thread: Absa hits R1 trillion in online banking transactions

  1. #1

    Default Absa hits R1 trillion in online banking transactions

    R1 trillion in Absa online banking transactions

    The value of transactions processed by Absa online banked reached a trillion Rand in 2011

  2. #2

    Default

    what's that, one thousand billion?
    FNB's iPhone app did 2 billion by Feb 2012 and it had only been going for 7 months or so...

  3. #3

    Default

    Lies! that's what I spent every month on banking charges while I was with them.

  4. #4

    Default

    I suspect this is a press release to try take some wind out of FNB App's sails for their transaction milestone,though it's laughable
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  5. #5

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    Quote Originally Posted by Sinbad View Post
    what's that, one thousand billion?
    FNB's iPhone app did 2 billion by Feb 2012 and it had only been going for 7 months or so...
    I don't think you appreciate the magnitude of R1 trillion, unless you were just giving us some arbitrary fact.

    In your FNB case that equates to ~R286 000 000 per month

    So at that rate it would take FNB's mobile banking app ~3496 months to reach R1 trillion (1 000 000 000 000) which is 291 years...

  6. #6

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    Quote Originally Posted by abandonallhope View Post
    I don't think you appreciate the magnitude of R1 trillion, unless you were just giving us some arbitrary fact.

    In your FNB case that equates to ~R286 000 000 per month

    So at that rate it would take FNB's mobile banking app ~3496 months to reach R1 trillion (1 000 000 000 000) which is 291 years...
    FNB's app has done more than 0.2% of absa's entire online banking volume, in 7 months. I think it's pretty significant considering absa's online banking will be used by big corporates doing huge payments, whereas the FNB phone app probably wouldn't be ...

    I can also tell you that a system I am responsible for did a trillion in payments within a month.

  7. #7
    Grandmaster
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    Pretoria East
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    Default

    Quote Originally Posted by Sinbad View Post
    FNB's app has done more than 0.2% of absa's entire online banking volume, in 7 months. I think it's pretty significant considering absa's online banking will be used by big corporates doing huge payments, whereas the FNB phone app probably wouldn't be ...

    I can also tell you that a system I am responsible for did a trillion in payments within a month.
    This figure encompasses both individuals and small businesses that use Absa Online Banking.
    Read articles properly people.

  8. #8

  9. #9

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    Quote Originally Posted by Sinbad View Post
    I can also tell you that a system I am responsible for did a trillion in payments within a month.
    How do you know someone isn't really responsible for some obscure system that exchanges unquantifiable amounts of money every month ?

    He will tell you he is.

  10. #10
    Master
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    May 2006
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    Faerie Glen, Pretoria
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    It was the one transfer I did. Now Absa is bragging about it.

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