South African Bank Enables P2P “Geo-Payments” That Don’t Require Account Data

What's Next In Payments®
7:44 PM EDT May 10th, 2012

Customers at First National Bank in South Africa can use their FNB mobile app to transfer money to nearby people without inputting the money recipient’s bank account information, Finextra reports.

Non-FNB customers can download FNB’s app and receive money through the GeoPayments feature, the report says, although they cannot send money.

Read the full story here.

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