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South Africa has a new (virtual) mobile network operator in Standard Bank. The financial services provider today confirmed that it will ply its trade in the mobile virtual network operator (MVNO) space with Standard Bank Mobile.
The network will be supported by Cell C, which also platforms rival offering FNB Connect.
While Cell C and MTN will do the heavy lifting, as an MVNO, Standard Bank Mobile offers packages on its network favouring its own banking clientele. Users who don’t have a Standard Bank account cannot use the network.
The network’s base subscription fee is R39 per month, while voice calls are pegged at R1.29 per minute, 1MB will cost 49c, and a local SMS will cost 60c.
Standard Bank Mobile will be exclusive to the bank’s customers, but will be carried on Cell C’s network
Additionally, the bank will award users with free airtime — equivalent to their banking fees — based on their banking account level.
Image: Standard Bank
Users with Signature banking accounts receive R450 airtime free per month, while those with a (SUM)1 or Student Achiever will receive 250MB or R25 airtime. The free airtime can then be spent by purchasing data or voice plans, or simply using the stash as traditional airtime.
Uniquely, Standard also awards users for swiping their cards.
“Get your bank account fees back in airtime and earn FREE Data for every swipe you make with your bank card,” states the marketing material on its official sign up site. For every R10 spent, users will receive 1MB of data in return.
Initially, Standard Bank Mobile will only be available on Cell C and MTN SIM cards. Users can activate their existing SIMs to use the network or order a new piece of plastic from Standard.
Feature image: Standard Bank