South African lottery: bank pays US$14.5 million to winning customers

South African lottery: bank pays US$14.5 million to winning customers

First National Bank (FNB) customers who play the South African lottery and PowerBall using the bank’s electronic channels have received R145 million (about US$14.5 million) in winnings since the inception of the service in July 2009, the Johannesburg-based commercial bank reported last week.

FNB, which partnered with lottery managing compnay Gidani to provide this service, said it currently accounts for 80% of the licensed National Lottery Operator’s virtual channels’ sales.

“The popularity of playing Lotto and PowerBall on FNB banking channels is predominantly due to its convenience,” CEO of FNB Service Ravesh Ramlakan said in a statement.

“Customers can play anywhere without having to travel or stand in queues,” he added.
Lotto and PowerBall entries on FNB’s electronic channels have resulted in some 2.5 million winning payouts.

The also bank said that winnings under R50 000 (US10 000) are paid automatically into the customer’s bank account and the customer will also be notified via inContact, FNB’s free sms notification service.

FNB will contact customers winning above R50 000 and customers will also be requested to present their identity document to Gidani before the winnings can be deposited into their accounts.

Duduzile Ndendwa, Gidani corporate executive for commercial division, said her company has been on a path of using technology to contemporise the National Lottery brands,”

More than 330 000 FNB customers are believed to use the Lotto and PowerBall service in South Africa. According to FNB’s data, 67% of these customers are male while 48% of them are between the ages of 35 and 54.  The most popular channel is Online Banking with 64% of the customers who play using this channel, followed by Cellphone Banking at 32%.

Lotto and PowerBall are available on FNB’s Cellphone Banking, Online Banking, and ATM channels.

FNB customers can replay their previously selected Lotto and PowerBall numbers and they can also select the number of times they would like their ticket to be replayed.

Customers can also view a history of their number selection and use their eBucks to purchase their tickets.

(Issued by FNB, final editing by Issa Sikiti da Silva)

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