In the hunt for new revenue streams in the crowded SA banking market,  Nedbank is testing an app that seeks to grab a slice of the growing mobile payment markets.

Nedbank, alongside rivals FirstRand, Absa, Standard Bank and Capitec, is trying to defend market share from newcomer app-only competitors such as Adrian Gore’s Discovery Bank and the Patrice Motsepe-backed TymeBank, which have set out pricing and margin strategies to lure cash-strapped consumers to their platforms.

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