Mobile Moola, FBC’s ZimSwitch Ready mobile banking service launches

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By   
September 30th, 2011

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Last week, we posted that ZimSwitch was launching a mobile banking service called ZimSwitch Mobile and that it would start rolling out the service to banks before the end of September, with more banks following. Immediately after we posted that article, a reader sent us a tip that the service was already live at CABS.

FBC, one of the largest local banks, today started advertising its mobile baking service running on the ZimSwitch Mobile platform. It’s called Mobile Moola. The advert ran as a teaser much of the week touting the service as a “faster faster” one.

The product works much like the old ZimSwitch service except this time transfers or payments can be made over a mobile phone. FBC itself explains in the advert:

The new FBC Mobile Moola card is your new ATM card, which can send money from your card to anyone with a mobile phone, on any network. Plus you can use the card to do many other banking transactions within the bank and on ZimSwitch enabled ATMs and POS devices.

The clear difference of this mobile service from the recently launched EcoCash is the need for a customer to open a bank account.

ZimSwitch is a third party transaction processing platform used by some Zimbabwean commercial banks. It was formed upon the signing of a partnership agreement of 8 local financial institutions in 1994 to facilitate the shared use of automated teller machines (ATM’s) and point of sale (POS) facilities throughout Zimbabwe.

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  • Alir Force One

    Clearly, the FBC-ZimSwitch Mobile product is better for entrepreneurs than the Econet peer-to-peer mobile payment solution.

    FBC recently unveiled mastercards that work on the internet. having a bank account with them for this ZimSwitch Mobile product will make it easier for one to shift money in-between account.

    I do not know if it is possible but one can link the ZwSw Mobile account to a mastercard.

    Alternatively, loading one prepaid mastercard becomes less a stress.
    You can also use the card to shop, which is something you can not do with EcoCash.
    In Bulawayo, EcoCash is still to be introduced. The Econet folks say its not here yet, but only in Harare. What more little towns.

    sad thing with Ecocash also is, unlike Cellcard, you cannot get a statement (that’s what i was told by Econet bulawayo). you therefore have to rely on a phone with a message bank that is huge, +500 messages, depending on what you want to do.
    There’s a hell lot more but i shall not dwell more on this.

  • CyberTech

    FBC, one of the largest local banks, today started advertising its mobile baking service running on the ZimSwitch Mobile platform.@Staff:disqus  Writer “baking”.The service is well welcome, its high time we started having more services that save time for customers and make life easier. This is what we need from banks more services that promote growth!

  • Dread

    They must advertise it louder than Econet does, otherwise it will be drowned very fast. Kingdom cellcard is much older than these but has already been drowned by EcoCash noise-wise