So yesterday when Telecel called a press briefing we were almost certain the company would announce their new mobile money service. It’s been known for a while now that Telecel is working on a product to compete head on in the market with fellow mobile operators Econet (their EcoCash product) and NetOne (OneWallet). They didn’t announce it yesterday, but we’ve been getting bits of information (and some new tips and a logo) are enough to piece together what’s going on.
So yes, the suggestions flying around that it’d be called Telecash were absolutely right. The log confirms it. As for launch date, we’re getting it’s going to happen sometime in November and considering November starts tomorrow, that means any time now.
The company is busy signing up agents as we speak. One agent was kind enough to share the the Agent Application form with us. You can download it here. The form indicates there’s be a bank involved but its not clear yet if this will be a specific bank, some preferred banks or pure mobile money neutrality. The advantage for Telecel ofcourse is that they enter a market that has learnt a lot and is more structured than it was at the launch of EcoCash. They don’t have as much work learning, or liaising with partners as Econet had.
This is also an advantage in terms of the general costs of awareness of a mobile money product in the market. Econet has spent millions of dollars marketing this new way of payments and switching in the market, Telecel don’t have to invest in that. They bringing in an alternative of a product already known by consumers, agents, regulators, partners, and general ecosystem. And what’s more, an executive that was in the top few at EcoCash is leading the project.
The information we have so far suggests they’ll do a soft launch first to test the platform and this will be followed later by a much more public launch.
We’re expecting Telecel arsenal to, as usual, have lower tariffs as a key strategy. They’ll probably then try to match all the convenience that EcoCash is and while they are at it, maybe even fix some of things Econet has decided to break. The meaningful competition this will bring to EcoCash will probably result in some adjustments on tariffs.
Regardless how they launch, by the end of this year, Telecel will be back in the mobile money game.
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22 comments
Yes please. Mobile wars ku electronic wallet will result in a reduction in tariffs
This absolutely superb. Competition is needed. Tariffs will not go done anytime soon unless Econet sees a drop in transactions.
Attended one of their presentations and i appreciated that they are not trying to fight everyone else and imposing their solution but rather have a degree of consideration and an ear for the market. I guess to capitalize on the mistakes of Ecocash. In fact they promise that their version will try and built and all inclusive ecosystem open to participation by all stakeholders including opening up the platform to private developers products and services. You are aware that Ecocash is currently restricted especially on offering a USSD API.
Telecash tokolosh
really! that’s all u saw.
Any idea who’s the bank behind Telecash? Do I smell a Telecash$ave 🙂
Simple. they will be blocked from sending money to Econet customers. Telecel don’t got numbers on its own.
I was keeping my Econet line because of Ecocash and I will not hesitate to use my telecel for that and move over with my rural folks!
u r awesome dude you can mind read. lol
Mr LSMK. This was surely meant to be a Telecel article… unfortunately the work Econet appears 8 times, just 3 times less than Telecel. EISH!!!
You cant talk of Mobile Money without mentioning Econet in Zimbabwe and I dont see where your problem is!
Its not a Telecel article, is a mobile money article
Iwould switch at the drop of a hat if they just link with my bank.
Let us wait to compare and contrast…..But if their platform is open then we gonna give Ecocash a run for its money
This is a welcome development especially considering they have been expanding their network to even the most remote areas. My worry is thei capacity because a we speak I always strugle to convert my airtime to data bundles using *144#!
I hope they wont be accused of copyright infringement…Remember the mango debacle. http://www.telecash.de/
different geographies. doesn’t apply
Telecel just needs to be careful with brand names to avoid plagiarism. TeleCash GmbH & Co. KG is a German company that develops convergent solutions and e-business systems. The company operates an electronic payment network that accepts debit, credit, and charge card through a network point of sale terminals. The company was founded in 1991 and in based in Bad Vilbel, Germany. It has offices in Frankfurt, Berlin, Hamburg, Dusseldorf, and Munich. As of March 24, 2003, TeleCash GmbH & Co. KG operated as a subsidiary of First Data Corporation
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