Johannesburg – Travel and family gatherings are traditionally characteristic of Easter holidays, so FNB data is led to the categories of accommodation, flights, fuel, DIY, hardware, and clothing, predicting increased spending over this period.
The bank said it expects expenses to rise by 7.41% over the holiday period last year, with spending this year increasing by more than 8% considering expected trading activities.
“As customers begin to prepare to host their families and plan their trips, we expect a noticeable increase in spending activity in a variety of merchant categories, including hardware, flights, accommodation and clothing during the Easter holidays before they taper towards the end of the season.
Online spending (up 47.12% year-on-year) surpassed in-store spending (up 24.19%). And, interestingly, in 2024, customer payments with physical cards fell 10.88% year-on-year, while virtual cards payments rose 90.12% just before Easter, increasing an astounding 134% growth of 134% at the peak of the Easter era.
“Trading safety for both online and in-store customers is a key concern for us,” Nsibande said.
“With Easter being a high-frequency travel and shopping period, our innovative FNB virtual cards will be an important payment method to ensure this secure and secure transaction.
“Our data shows that our customers value the convenience and security of FNB virtual cards, and we believe that the unprecedented growth we continue to see in our virtual card space proves that our customers know they can trust us and our platform when they trade conveniently both in-store and online.”
Nsibande added: “What distinguishes FNB virtual cards is that they come with a dynamic card validation value (CVV) security code that changes every hour.
“We cannot fully emphasize that customers will not share one-time passwords (OTPs), device passcodes, pins, or CVVs with anyone. We will keep your card and PIN details safe, as with all other sensitive personal information.”
“Also, if people who are detained while traveling or in their home detainees, or customers have access to unlimited on-demand medical and armed responses through Guardme, they will be able to work with EBUCKS to access nationwide medical and personal armed response services available through the FNB Banking App.”
FNB remains optimistic that this Easter will continue to grow, but there is exactly how much we need to see.
“As always, we recommend that customers actively use the NAV»Money Smart budgeting feature in their FNB app to avoid excessive spending,” Nsibande said.
“It helps you manage, set up and track your budget during your holidays. Customers can also take advantage of the EBUCK they have accumulated to optimize their budget.”
FNB customers can use the FNB app to temporarily block, cancel or exchange cards if they suspect fraud or if the card is lost or stolen.
“We also encourage our customers to stay vigilant when doing business during this period,” NSIBA said.
