FNB and fintech startup partner to connect informal traders

Jamie McKane

MyBroadband Journalist
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#1
FNB and fintech startup partner to connect informal traders

FirstRand Ltd.’s First National Bank and a startup financial-technology company in South Africa are partnering to connect informal traders in townships with fast-moving consumer-goods companies.

FNB is seeking to tap into a market that it estimates could consist of as many as 1 million enterprises that have largely been ignored and falls into the “unseen economy,” the Johannesburg-based lender said in an emailed statement.
 

eg2505

Honorary Master
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Mar 12, 2008
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14,876
#2
nice idea, problem is how its implemented,

if its all on a cellphone, and a small reader that can plug into a cellphone and enable POS functionality,
like a zip zap machine, it will do well,

but if its an expensive POS device, thats liable to get stolen, not so great.
 
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