According to the source, the service uses the GPS chips built into the mobile devices, with authentication provided by the app. The person making the payment is required to log in; the receiver selects “receive payment” and the funds are credited to their default accounts.
The service is only available to users with devices that have built-in GPS functionality.
Non-FNB customers who wish to receive a geo-based payment can download the FNB banking app. By selecting “geo payments” and entering their mobile phone numbers, an e-wallet will be automatically created for them into which they can receive payments, the source explains.
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