Standard Bank on Wednesday became the second major bank in SA to offer its customers mobile communication services using Cell C’s infrastructure. Standard Bank Mobile would offer the bank’s customers rewards such as free data when they swiped their cards, the financial institution said. The bank has become the 19th entity to launch a mobile virtual network operator (MVNO) service on Cell C’s network. Others include Virgin Mobile, MRP Mobile, and FNB Connect — which already has more than 600,000 subscribers after its launch in mid-2015. MVNOs — entities that buy and resell connectivity from network providers — now account for about 3% of the overall South African market by revenues, according to Cell C’s estimates. “The model is gaining momentum locally as big brands, like Standard Bank, come on board and more businesses seek new revenue streams,” said Björn Flormann, CEO of Cell C’s wholesale business.

The MVNO model allows businesses such as banks and retailers to provide nic...

Subscribe now to unlock this article.

Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).

There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.

Cancel anytime.

Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.