FNB to rival mobile operators with own SIM card?

There has been speculation that First National Bank (FNB) will become a mobile virtual network operator (MVNO), just like new kid on the block, me&you.

FNB is already offering its banking clients discounted mobile devices, including tablets and smartphones through the eBucks store.

Becoming an MVNO could be a smart move, as the bank could then sell these devices with its own FNB SIMs.

FNB is currently one of the largest bulk SMS and airtime distributors, according to Virginia Magapatona, FNB head of corporate communications. FNB has relationships with all mobile network operators and an MVNO can strengthen their position.

So are the rumours true?

FNB has not fully denied the speculations, stating that they are in talks with mobile operators.

“We continue to hold confidential discussions with various operators, and we will only be in a position to formally announce any new features or customer benefits once launched,” said Magapatona.

Magapatona added that FNB will continue to enhance its services where it benefits their customers, such as providing free calls and messaging via the FNB App.

“FNB has a telco license and as such is already able to provide voice and data services. We also offer free calls via FNB Connect,” said Magapatona.

*Justmoney contacted Absa, Nedbank, Standard Bank, and Capitec for comment on whether they would become an MVNO, but heard nothing back by the time of publication.