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Absa says it is working on smartphone banking applications in the wake of the launch on Tuesday of its overhauled online banking platform. It says the new platform, which took two years to develop, is a necessary step to launching dedicated banking apps for mobile devices. Adrian Vermooten, Absa’s deputy managing

First National Bank this week lifted the lid on a new payment mechanism that uses the GPS feature in modern smartphones. It won’t result in the much-hyped cashless society, but it could greatly reduce South Africans’ reliance on cash over time. The new payment feature, which is included in an update to