Ecocash, arguably the biggest ‘bank’ in Zimbabwe, with probably well over 4m subscribers, has zero rated merchant payments every Thursday up until the end of June 2017.
I’m not too sure whether this incentive needed to be thrown, as due to the cash crisis that has been prevailing in Zimbabwe, a number of us have been resorting to making payments through ‘digital platforms’/’plastic money’ such as Ecocash, as it has become the more convenient solution.
A subscriber does not need to do anything different, probably just asking those that they are paying for their Merchant number, and making the payment to that account instead. The 5c tax however is not waived, so budget to cover that as well.
For now, most Merchants require you to come “in store” and after making the payment, they’ll then credit your account, but services I can think of that you can pay using your Ecocash account are:
- Zimpapers – Herald, Chronicle, Sunday Mail, H-Metro newspaper subscriptions
- Payments that use PayNow as their payment solution
From the Ecocash website, this will potentially be a $1.25 to $1.50 savings and hopefully if you’re a merchant, now would be a great time to get your customers to know about this convenient way of them paying you.
Ecocash are looking to “ease the burden of performing financial transactions in line with the national financial/economic inclusion agenda”. They’ve seen huge growth on merchant services, following the nation’s focus on cashless transactions, in collaboration, they are incentivising customers to make it easier especially for those that are still accepting as well as converting the late adopters on electronic payments – they can try it out on a zero fee day and see the benefits of the convenience.
Econet Wireless Zimbabwe, a subsidiary of Econet Wireless International, is the first and largest mobile network services provider in Zimbabwe. The telecoms giant became popular with its products and services such as Buddie. It has established branches in different corners of the country and enjoys a subscriber base of more than 9 million, undoubtedly the largest in Zimbabwe. Among other services, it has acclaimed dominance in telecommunications services, providing solutions in mobile, fixed telephony services, internet and satellite access and payment solutions, and mobile money services. Read More