{"id":54012,"date":"2025-04-16T12:09:38","date_gmt":"2025-04-16T12:09:38","guid":{"rendered":"https:\/\/www.premium-partners.net\/?p=54012"},"modified":"2025-04-18T13:12:32","modified_gmt":"2025-04-18T13:12:32","slug":"fnb-forecasts-growth-in-easter-spend-despite-tough-economic-climate","status":"publish","type":"post","link":"https:\/\/www.premium-partners.net\/fr\/builder\/fnb-forecasts-growth-in-easter-spend-despite-tough-economic-climate\/","title":{"rendered":"FNB forecasts growth in Easter spend despite tough economic climate"},"content":{"rendered":"

This post<\/a> was originally published on this site<\/a><\/p>

<\/p>\n

As travel and family gatherings are traditionally the hallmarks of the <\/span>Easter<\/span> <\/span>holiday period, <\/span>FNB<\/span> <\/span>data <\/span>forecast an<\/span> <\/span>increased <\/span>spend<\/span> <\/span>over this period, led by accommodation, flights, fuel, DIY and hardware, as well as clothing categories.<\/p>\n

The bank noted last year, it saw an increase of 7.41% YOY in <\/span>spend<\/span> <\/span>during the height of the holiday period, and anticipates this year\u2019s <\/span>spend<\/span> <\/span>to increase by just over 8 % in view of the expected transactional activity. <\/p>\n

\u201cAs customers start to prepare to host family or make travel plans, we expect to see a notable increase in <\/span>spend<\/span> <\/span>activity in various merchant categories such as hardware, flights, accommodation, clothing, peaking during the <\/span>Easter<\/span> <\/span>holiday before tapering off toward the end of the season,\u201d FNB<\/span> <\/span>Credit Card and Card Platform CEO, Senzo Nsibande said.<\/p>\n

The bank said that online <\/span>spend<\/span> <\/span>(which grew by 47.12% YOY) outpaced in-store <\/span>spend<\/span> <\/span>(which grew by 24.19%).<\/p>\n

FNB further stated that customer payments with physical cards decreased by 10.88% YOY in 2024 while virtual card payments went up by 90.12% YOY just before <\/span>Easter<\/span>, then ramping up to an 134% YOY <\/span>growth<\/span> <\/span>at the peak of the <\/span>Easter<\/span> <\/span>period.<\/p>\n

\u201cOur customers\u2019 transactional safety both online and in-store is a key concern for us. With <\/span>Easter<\/span> <\/span>being a high-frequency travel and shopping period, our innovative <\/span>FNB<\/span> <\/span>virtual card will be a critical payment method to ensure safe and secured transactions over this time. Our data shows that our customers have come to value the convenience and safety of the <\/span>FNB<\/span> <\/span>Virtual Card and we truly believe that the unprecedented <\/span>growth<\/span> <\/span>that we continue to see in the virtual cards space is testament to the fact that our customers <\/span>know that they can trust us and our platform as they conveniently transact both in-store and online,\u201d Nsibande said.<\/p>\n

FNB further stated that customer payments with physical cards decreased by 10.88% YOY in 2024 while virtual card payments went up by 90.12% YOY just before Easter, then ramping up to an 134% YOY growth at the peak of the Easter period.<\/figcaption><\/figure>\n

\u201cWhat sets apart our <\/span>FNB<\/span> <\/span>Virtual Card is that it comes <\/span>with a dynamic card verification value (CVV) security code which changes every hour. <\/span> We can\u2019t emphasise enough that customers must never share one-time passwords (OTPs), device passcode, PINs, CVVs with anyone \u2013 they keep their card and PIN details safe as with all other sensitive personal information.\u201d<\/p>\n

\u201cShould one find themselves or family members in a bind while traveling or at home, customers can access <\/span>unlimited on-demand medical and armed response through GuardMe \u2013 a nationwide medical and personal armed response service brought to customers in partnership with eBucks and available on the <\/span>FNB<\/span> <\/span>Banking App.\u201d<\/p>\n

While <\/span>FNB<\/span> <\/span>remains optimistic that <\/span>spend<\/span> <\/span>this <\/span>Easter<\/span> <\/span>will continue to grow, what remains to be seen is exactly by how much.<\/p>\n

\u201cAs always, to avoid excessive spending, we encourage our customers to actively use our <\/span>nav\u00bbMoney <\/span>Smart Budgeting functionality on the <\/span>FNB<\/span> <\/span>App. It will help them manage, set up and track their budgets over the holidays. Our customers can also take advantage eBucks they have accumulated to optimise their budgets\u201d Nsibande added. <\/p>\n

FNB<\/span> <\/span>customers can use the <\/span>FNB<\/span> <\/span>App to temporarily block, cancel, or replace their cards if they suspect fraud or if their cards are lost or stolen.  <\/span><\/p>\n

\u201cWe further urge customers to always remain vigilant when making transactions over this time\u201d, Nsibande further said.<\/p>\n

FNB Credit Card and Card Platform CEO, Senzo Nsibande. <\/figcaption><\/figure>\n

BUSINESS REPORT<\/strong><\/p>","protected":false},"excerpt":{"rendered":"

As travel and family gatherings are traditionally the hallmarks of the\u00a0Easter\u00a0holiday period,\u00a0FNB\u00a0data\u00a0forecast an\u00a0increased\u00a0spend\u00a0over this period, led by accommodation, flights, fuel, DIY and hardware, as well as clothing categories.The bank noted last year, it saw an increase of 7.41% YOY in\u00a0spend\u00a0during the height of the holiday period, and anticipates this year\u2019s\u00a0spend\u00a0to increase by just over 8 % in view of the expected transactional activity.\u00a0\u201cAs customers start to prepare to host family or make travel plans, we expect to see a notable increase in\u00a0spend\u00a0activity in various merchant categories such as hardware, flights, accommodation, clothing, peaking during the\u00a0Easter\u00a0holiday before tapering off toward the end of the season,\u201d FNB\u00a0Credit Card and Card Platform CEO, Senzo Nsibande said.The bank said that online\u00a0spend\u00a0(which grew by 47.12% YOY) outpaced in-store\u00a0spend\u00a0(which grew by 24.19%).FNB further stated that customer payments with physical cards decreased by 10.88% YOY in 2024 while virtual card payments went up by 90.12% YOY just before\u00a0Easter, then ramping up to an 134% YOY\u00a0growth\u00a0at the peak of the\u00a0Easter\u00a0period.\u201cOur customers\u2019 transactional safety both online and in-store is a key concern for us. With\u00a0Easter\u00a0being a high-frequency travel and shopping period, our innovative\u00a0FNB\u00a0virtual card will be a critical payment method to ensure safe and secured transactions over this time. Our data shows that our customers have come to value the convenience and safety of the\u00a0FNB\u00a0Virtual Card and we truly believe that the unprecedented\u00a0growth\u00a0that we continue to see in the virtual cards space is testament to the fact that our customers\u00a0know that they can trust us and our platform as they conveniently transact both in-store and online,\u201d Nsibande said.FNB further stated that customer payments with physical cards decreased by 10.88% YOY in 2024 while virtual card payments went up by 90.12% YOY just before\u00a0Easter, then ramping up to an 134% YOY\u00a0growth\u00a0at the peak of the\u00a0Easter\u00a0period.\u201cWhat sets apart our\u00a0FNB\u00a0Virtual Card is that it comes\u00a0with a dynamic card verification value (CVV) security code which changes every hour.\u00a0\u00a0We can\u2019t emphasise enough that customers must never share one-time passwords (OTPs), device passcode, PINs, CVVs with anyone \u2013 they keep their card and PIN details safe as with all other sensitive personal information.\u201d\u201cShould one find themselves or family members in a bind while traveling or at home, customers can access\u00a0unlimited on-demand medical and armed response through GuardMe \u2013 a nationwide medical and personal armed response service brought to customers in partnership with eBucks and available on the\u00a0FNB\u00a0Banking App.\u201dWhile\u00a0FNB\u00a0remains optimistic that\u00a0spend\u00a0this\u00a0Easter\u00a0will continue to grow, what remains to be seen is exactly by how much.\u201cAs always, to avoid excessive spending, we encourage our customers to actively use our\u00a0nav\u00bbMoney\u00a0Smart Budgeting functionality on the\u00a0FNB\u00a0App. It will help them manage, set up and track their budgets over the holidays. Our customers can also take advantage eBucks they have accumulated to optimise their budgets\u201d Nsibande added.\u00a0FNB\u00a0customers can use the\u00a0FNB\u00a0App to temporarily block, cancel, or replace their cards if they suspect fraud or if their cards are lost or stolen.\u00a0\u00a0\u201cWe further urge customers to always remain vigilant when making transactions over this time\u201d, Nsibande further said.FNB\u00a0Credit Card and Card Platform CEO, Senzo Nsibande. BUSINESS REPORT<\/p>","protected":false},"author":1,"featured_media":38567,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-54012","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-builder"],"_links":{"self":[{"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/posts\/54012","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/comments?post=54012"}],"version-history":[{"count":2,"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/posts\/54012\/revisions"}],"predecessor-version":[{"id":54016,"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/posts\/54012\/revisions\/54016"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/media\/38567"}],"wp:attachment":[{"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/media?parent=54012"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/categories?post=54012"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/tags?post=54012"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}