First WhatsApp Banking in the World Launched in South Africa

Have you ever heard about WhatsApp banking? How is that even possible? How can someone transact via WhatsApp?

In May 2018, WhatsApp made a major push into the banking and transactional services through what they called WhatsApp Pay Services.

The service, was, however, introduced in India on trial basis with Private Lender Kotak Mahindra introducing it in India only on trial.

On Wednesday, Absa became the first bank in the world to officially launch the service anywhere in the world with an announcement that their clients will now be allowed to transact via mobile.

This will be the first WhatsApp banking in South Africa with the banking having the plans to launch the services across other branches in Africa and in the world.

Absa is the new name that Barclays Africa Group acquired in its new brand strategy. The lender has said that WhatsApp banking will be a ‘major part of their new tech innovative platform’ this year.

Social Media Banking is slowly taking shape with Facebook also said to be in the process of getting into the banking services.

What is interesting is that the new WhatsApp banking will be available not only on WhatsApp but on Facebook Messenger as well as Twitter. As to how that will be done, no one is in the know yet.

Through WhatsApp banking, Absa clients will now be able to check their balance, pay beneficiaries, buy airtime and pay for electricity bills.