For those of you who are avid online buyers, here’s a hack that will allow you to use your MasterCard with Telecash. This solution has been available ever since Telecash launched in Zimbabwe and has been possible because of their “interoperability”. Enjoy!!! (You can thank me later) What you will need to use MasterCard with Telecash A [...]
Yesterday Telecel Zimbabwe launched a debit card for their mobile money users called the TeleCash Gold Card.This product had been in the pipeline for a while now, with Telecel having given some information on the card and what it would mean for subscribers at the launch of Telecash some months ago. While the launch itself [...]
Mobile service provider Telecel has launched a debit card for its Telecash mobile financial services subscribers. Dubbed the Telecash Gold Card, it allows Telecash subscribers to make transactions on all ZimSwitch POS terminals and also enables withdrawals from every ZimSwitch ATM facility. The card can also be used for the payment of a host of [...]
Most of us remember coupons fondly as the easily tradable pseudo-currency from the pre-dollarisation era. Well, local fuel distributor Sakunda Energy has taken a step into the digital age and done away with the coupons with the introduction of their Sakunda Fuel Card. The petroleum concern stopped selling coupons some time ago and has been advising [...]
I had the had the thrilling and awesome privilege to chair the second day of the 7th edition of the Mobile Money and Digital Payments Africa 2014, in Johannesburg at the end of May. Different stakeholders in the mobile money and digital payments industry across Africa and beyond converged at the Hyatt Regency Hotel in [...]
Mobile money has redefined financial services locally and every serious service provider in the industry has tried to get in on the action. Local banks were relatively late adopters of m-commerce but despite this some of these institutions have managed to make remarkable progress even in the face of steam rolling competition from the likes [...]
So after publishing a number of articles on the situation between the banks and Econet, about neutral access to the Econet GSM network, we’ve received a number of questions about what exactly the banks are being denied and what they want from Econet. So far we’ve talked of limited USSD functionality. Thought we could dedicate [...]
A few days ago I noticed vPayments finally has easy to integrate plugins for e-commerce CMS like Opencart, Magento and OScommerce and I immediately downloaded for an Opencart store I was experimenting with. This is a good development considering that less tech savvy e-commerce startups would otherwise have trouble integrating vPayments using pure code. The new [...]
In just a couple of hours the year ends and 2014 rolls along with its high expectations from all of us. But before that happens we thought we’d look back at the highs and lows of 2013. Those moments got us really excited and extremely happy, as well as the other extreme. First the lows, because [...]
The article below is a statement issued by ZimSwitch on the state and progress made with the ZimSwitch Shared Services payments switching platform. The statement was issued to us as part of the research that we made over the past few weeks for the article Zimbabwe: Of banks, Mobile Money and EcoCash. It has been a busy year [...]
Without any widely adopted internet payments platform, despite the existence of Vpayments, and some EcoCash internet payment trials, eCommerce in Zimbabwe is struggling to take off. But there are startups that are moving in early regardless, positioning themselves for when the Zimbabwean will rely on the internet to shop.
Barclays will be launching its mobile banking application Hello Money, in Zimbabwe this month. The announcement was made as part of the launch of new ATMs by the company a few days ago. Hello Money will allow Barclays account holders to transfer money to a Barclays account or to an account at another banking institution, airtime top up, mini statements and balance enquiries.
We’re just from a press conference where Econet Wireless and Stanbic Bank announced the integration of Econet’s mobile money transfer platform, EcoCash, with Stanbic’s banking system allowing EcoCash subscribers to transfer money from and to their Stanbic accounts. Selected branches of Stanbic will also act as EcoCash Super Agents allowing EcoCash agents and customers to do EcoCash transactions.
As you may know, Econet came out yesterday to publicly accuse CABS, ZimSwitch and Kevin Terry of using the Bankers Association of Zimbabwe to fight Econet’s mobile money product EcoCash. The CABS MD, according to campaigning against EcoCash so he can push his own mobile money/banking product, Textacash. Textacash you will remember is basically an implementation of ZimSwitch’s Shared Services platform. And Zimswitch is owned by more than just CABS.
Press releases are usually filled with exaggerated self-praise and sometimes some subdued remarks subtly attacking the competition. Not with today’s press release from Econet Wireless which we posted earlier. The company has fired a salvo at CABS, ZimSwitch and Kevin Terry accusing them of using the Bankers Association of Zimbabwe to fight the EcoCash mobile money service.
A senior Econet Wireless executive, Mr Darlington Mandivenga, who is responsible for the rollout of EcoCash, has dismissed a claim reportedly made by Bankers Association of Zimbabwe’s immediate past president, Mr John Mushayavanhu, stating that Econet has denied banks access to its platform for integration.
ZimSwitch is pleased to announce that the long awaited Vpayments platform is now in a controlled live environment, following pilot approval from the RBZ for this controlled stage of the launch. Vpayments is an eCommerce Payments Gateway that enables all 19 ZimSwitch member Financial Institutions to offer their banked customers the convenience of secure Internet based payments, and their merchants the ability to sell goods and services “online”.
A report today by financial news and analysis service FinX says the Bankers Association of Zimbabwe have proposed that mobile money services be included in new banking reforms for the country. This, the bankers say, would create a level playing field in an sector facing significant disruption from mobile phone operators.
As party of the ongoing discussion following the ePayments Forum that was held exactly two weeks ago, we’ve decided to post here the main issues that came out of the event. You can read more about the event itself on the sub site dedicated for the event here: epayments.techzim.co.zw
About 2 months ago, in line with the new strategic direction for the company, Webdev introduced a hosted cart solution. According to the founder, Garth Drummond, the company is gradually moving away from the usual website development work that has been their work for more than 10 years now into hosted web solutions and the shopping cart is the start. The development is timed along with Zimswitch’s introduction of Vpayments, an online payment solution that makes shopping carts conveniently usable to Zimbabwe’s internet population.
Today we attended a press briefing where Econet Wireless Zimbabwe and CBZ Bank were announced a new mobile banking partnership. The partnership basically entails that EcoCash subscribers who bank with CBZ can now move money between their EcoCash mobile money wallet and their traditional bank account from their mobile phones. Users of the service can also check the bank balance and get a mini statement all via EcoCash.
When mobile payments were introduced in Zimbabwe, I thought here is the chance for me to sell my book to Zimbabweans who do not have Visa cards, MasterCards etc. I made my first call to Big Bank in November of 2011 and asked them about accepting payments via their mobile money transfer solution. I was told it was Ok.
Yesterday, we held the ePayments Forum in Harare yesterday where we had representatives from Visa, Econet Wireless Zimbabwe, Zimswitch, Touch Retail and Zimbabwe revenue authority presenting on some keys issues in the ePayments space in Zimbabwe.
Zimswitch, a national switching company recently introduced an internet payment gateway service called Vpayments. Being a financial switch basically means they provider interconnection between their member banks. Zimswitch member banks account for about 95% of the 1.5 million banked population in Zimbabwe. After hyperinflation and dollarisation, many Zimbabweans moved away from the banks, but now they are moving back, with the number of banked individuals holding a bank account expected to exceed 3 million by the end of 2013.
Convenient payment options are a critical and often cited sticking point for commercial and economic development. Numerous discussions have taken place around the need for increased electronic payment methods as a means to overcome time, socio-economic, and logistical constraints amongst others.
One of the things that came out of the EcoCash tour that we were part of recently was that internet payments are not near the top of their priority list in terms of the roll out of payments. Understandably so actually; there are bigger, immediate and bankable needs to address away from the web. Needless [...]
Remember Skwama? It’s the mobile money transfer service which Telecel Zimbabwe started introducing back at the end of 2010. It was launched in January 2011 but before long, its ads and general branding disappeared almost completely. We just learnt the gradual disappearance was deliberate as a decision had been made to let Skwama “die a natural [...]
One of the issues with the LendmeMula micro-credit service that we have covered here before, is that so far borrowers have had to wait for up to 24 hours before they could access the borrowed money in their bank accounts. The money had to be transferred by Lendme to their bank accounts. This made the [...]
When we posted the report of the BarCamp Zimbabwe 2012, we promised to follow up with an audio of one of the presentations. This one titled “Opportunities for m-commerce and e-commerce in Zimbabwe for technology entrepreneurs” that was delivered by ZimSwitch Business Development Manager Adam Roscoe. Here it is. If you’re interested in the mobile [...]
This guest article was authored by Prosper Chikomo, an internet entrepreneur and author of Turning Iron into Gold: Golden Opportunities: How to Spot Them, Create Them, Make Money from Them, and How Not to Miss Them (Available on Amazon.com) A doubtful Zimbabwean-banker asked me the question, “Is Zimbabwe ready for e-commerce? Did you do any market research [...]