NetOne re-launched a revamped OneWallet product at their Kopje Plaza offices in Harare this afternoon. The OneWallet product was previously launched in 2011 and this re-launch is in response to a re-engineered platform that has just gone live. Here’s all that you need to know about the revamped OneWallet product:
- The most touted improvement is that OneWallet can now handle cross network transactions. OneWallet customers can now send and receive cash on OneWallet to any other network in Zimbabwe.
- Another improvement is they have adopted the use of agents for deposits and withdrawals as has been done already by market leader, EcoCash.
The old that stayed
- The platform is still powered by Gemalto’s mobile money solution.
- OneWallet SIM cards are supplied by Gemalto, an international digital security company, which offered similar services on the first OneWallet product.
- OneWallet customers still need to swap their current SIM cards and get the 128k SIM to be able to “effectively” transact. ‘Effectively transact’ because customers with their regulars SIM card can still receive cash but will be unable to perform cash-send functions.
Unlike the market leader EcoCash, that charges specific sums on different tiers, OneWallet charges a percentage of the transaction value, pegged in tiers.
Cash-in is obviously free but what seems confusing is that transactions less than $5 are also free but the minimum that can be sent is $5. So presumably, this means you can buy your airtime and cash out amounts less than $5 for free but sending cash is not free at any level.
NetOne MD, Reward Kangai was quick to highlight the competitiveness of their rates. “NetOne’s OneWallet is going to offer the most attractive tariffs for those transactions. The charges are very reasonable. I can assure you,” he said at the launch.
Well we have the charges for you to judge for yourself. Do you think this new revamped OneWallet can challenge EcoCash’s dominance?