PaymentsJournal
No Result
View All Result
SIGN UP
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
PaymentsJournal
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
No Result
View All Result
PaymentsJournal
No Result
View All Result

Electronic Banking Channels Optimize Savings

By Edward O'Brien
July 17, 2015
in Analysts Coverage
0
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
Pos terminal confirms the payment by smartphone. Vector illustration in flat design on green background. nfc payments concept

Pos terminal confirms the payment by smartphone. Vector illustration in flat design on green background. nfc payments concept

So you are rigorous with your budgeting and you already have a sensible savings plan? With July being National Savings Month in South Africa, it might be the right time to consider taking the next step in your savings journey.

It’s time to ensure that you are moving your money around in the most cost-effective way possible. There are a variety of banking channels available and it is important to understand them in order to make them work for you in ways that can truly enhance your savings.

Vuyo Mpako, head of Digital Channels and eCommerce at Standard Bank, advises that the most expensive way to move money around is to deal in cash. “It costs you every time you withdraw money – either from a branch or an ATM.”

So rule number one is to try and eliminate cash by using banking channels and facilities that allow you to transfer and transact with your money electronically.

Most well-known of these, of course, are online and cellphone banking solutions. However there is a range of other options available too, that will enable you to transfer money without having to deal with actual banknotes.

The strong interest shown by banking customers in self- and assisted-service channels, and particularly in digital banking, presents new opportunities for financial institutions to demonstrate their capabilities in these areas. It is also an opportunity to showcase their vision and thought leadership as they work their way toward an integrated omnichannel banking environment.

Overview by Ed O’Brien, Director, Banking Channels Advisory Service at Mercator Advisory Group

Read the full story here.

0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

    Get the Latest News and Insights Delivered Daily

    Subscribe to the PaymentsJournal Newsletter for exclusive insight and data from Javelin Strategy & Research analysts and industry professionals.

    Must Reads

    mortgage

    The Rich Benefits of In-House Payment Systems

    July 9, 2025
    digital cards

    Beyond Plastic: Why Digital Cards Are the Future

    July 8, 2025
    What Premium Card Overhauls by Chase and Amex Reveal About the Credit Card Market

    What Premium Card Overhauls by Chase and Amex Reveal About the Credit Card Market

    July 7, 2025
    Rewire Acquires Imagen, Looking at Prepaid Cards for Migrant Workers

    Smells Like Team Spirit: What Makes Cobranded Credit Cards Work

    July 3, 2025
    uk banking outages

    New Continuous Strategies for Battling Account Takeovers

    July 2, 2025
    Fraud Monitoring

    What to Expect When Nacha’s Fraud Monitoring Rules Take Effect

    July 1, 2025
    payments

    Don’t Just React to What’s Next in Payments—Anticipate It

    June 30, 2025
    consumer debit

    As Payment Types Proliferate, Debit Cards Still Go Strong

    June 26, 2025

    Linkedin-in X-twitter
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter

    ©2024 PaymentsJournal.com |  Terms of Use | Privacy Policy

    • Commercial Payments
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    No Result
    View All Result