Sending money is easier, especially if you are in a geographical area. First National Bank has made this possible courtesy of the FNB Geo payment service in South Africa. In this guide, we will share with you how FNB Geo payment work.
It is one of the features added to the FNB banking APP, and with your mobile phone, you can send money without his or her banking details as long as you have compatible phones.
If you are looking to understand how Geo payment works, you have come to the right place.
Through this article, I’ll be focusing on enlightening you on how this payment is carried out.
What Is FNB Geo Payment [2022 Update]
The FNB Geo payment is one way to transfer or send money to someone within your geographical area in South Africa.
The transfer is done electronically using a mobile phone, and there are no banking recipient details needed.
It is a faster way to send money, and it is secure according to the bank.
It is a new payment system meant only for sending money.
However, your recipient should be within your geographical area such that if the system detects you are not in the same area, the transfer will not take place.
How Does FNB Geo Payment Work
If you are wondering how FNB Geo payment works read on to find out. First, for the transfer to occur, you need to turn on your mobile phone location.
I mean both the sender and the recipient.
The mobile phone will identify each other, and they ought to be compatible.
The FNB Geo payment takes place if the recipient is around a 5km radius.
There is no limitation to send money through FNB Geo payment because you can even send it to non-FNB customers.
Geo Pay enables you to locate and pay other FNB App users within a 500-meter radius without having to include their bank account details.
It is a service that focuses on person-to-person transactions and uses your cellular triangulation, Wi-Fi, or GPS.
Since the FNB Geo payment service authenticates via the application’s current programming interface.
There is no need to share your banking information with others.
You can make payments with FNB Geo Pay starting at R1 and up to R35 000, depending on the user’s daily transaction limit.
You can use FNB Geo Pay in South Africa even if you don’t have an FNB account; download the app and start receiving payments.
Your funds will be kept in an e-wallet for up to 30 days and can be withdrawn using a cardless transaction from any FNB ATM.
Users can withdraw funds from any FNB ATM for a maximum of R3 000 per transaction, with a regular limit of R5 000.
Geo Pay is an electronic payment of the same rates as other one-time payments.
You can make unlimited free Geo Pay payments depending on your monthly package.
The app is available for iPhone, Android, and Blackberry mobile phones.
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