MVNO Expands Into eSIM To Integrate Banking And Mobile Services

The move forms part of the mobile virtual network operator’s (MVNO) strategy to extend its offering beyond traditional connectivity and deepen integration between banking and mobile services.

Expanding digital connectivity offering

The eSIM service enables customers with compatible devices to store multiple mobile profiles on a single handset and switch between numbers or plans without replacing a physical SIM.

It is available on existing mobile plans, with prepaid eSIM options expected to be introduced at a later stage.

An eSIM is a digital SIM embedded into smartphones and devices, allowing mobile services to be activated digitally.

Building on bundled financial and mobile services

Standard Bank Connect, owned by Standard Bank, has been expanding its digital ecosystem in recent years.

In early 2025, the business reintroduced device financing on flexible terms as part of efforts to grow adoption of bundled mobile and digital products.

The company said the introduction of eSIM supports its broader aim of integrating connectivity with financial and lifestyle services.

Shift toward multi-SIM usage

According to Standard Bank Connect, the launch aligns with growing demand for more flexible mobile usage, including the use of multiple SIMs to manage work and personal communication, reduce costs and improve coverage.

The company estimates that a significant share of South African mobile users now operate more than one SIM.

Strategic growth focus

“While eSIM technology is not new, delivering it through a trusted banking platform unlocks additional value for customers, from enhanced security and protection to seamless integration with their financial and lifestyle needs,” said SB Connect executive head Kartik Mistry.

He added that embedding connectivity into banking and payments platforms is expected to drive stronger customer engagement over time.

“The continued shift toward multi-SIM usage underpins our expansion into eSIM. Our ambition is to see eSIM become a meaningful share of our customer base by the end of 2026,” Mistry said.

Since rebranding from Standard Bank Mobile in June 2024, Standard Bank Connect has grown its subscriber base to more than 350,000 users and continues to record year-on-year growth.