Absa (formerly Barclays Africa) has introduced WhatsApp banking to South Africa, a social media banking strategy that will enable its customers to carry out instant transactions using the Absa Chat Banking service.
The bank introduced this form of banking as it launched its new logo and the new digital banking strategy earlier this week.
“This ethos will be the driving force that will define the new Absa, continually inspiring the desired culture that creates opportunities for our customers to make ‘what is possible’ real. The new Absa aspires to be an entrepreneurial African banking group with global reach. One that makes a real and lasting contribution to our customers and the societies we operate in,” Absa said in a statement.
The unveiling of the logo comes after Barclays Africa changed its name back to Absa after Barclays Plc sold part of its stake in the bank.
How WhatsApp Banking Works
To get started with Whatsapp banking in South Africa, add Absa 086 000 8600 as a contact on your device then find Absa on your WhatsApp and say hi. You will then be prompted to choose what you want to do from a set of options.
Absa’s WhatsApp banking services enable customers to purchase airtime, data, or electricity, view their account balances, and pay beneficiaries. The new banking service will also be accessible on Twitter and Facebook Messenger.
According to chief executive Maria Ramos, the bank intends to get back its market share in retail banking in South Africa and double the sales at its ten operations in Africa. The bank had also announced plans to expand its investment banking and corporate offices to the New York and London.