Imagine our excitement when we found out earlier this week that you have zero-rated Telecash transfers to registered users, essentially encouraging the usage of mobile money. We’re sure you’ve done your maths, you know how profitable this will be for both your stakeholders (merchants and agents), as well as for yourself.
We’re no accountants (or economists) but we give it to you for pleasing your users.
Anyway, our reason for writing is to find out whether we can now directly ‘cash-in’ into other users accounts? Hear the argument: We perceive that the reason you would “force” users to ‘cash-in’ to their accounts and then transfer that money to another user was so you could benefit from the transaction fee levied on transfers. Now that you have removed those fees, wouldn’t it be great to allow us to ‘cash-in’ directly into another user’s account, saving us the hassle of transferring?
Yes, I know that you might say that there is a risk to it, that we might cash-in into the wrong account and that person could then withdraw the money and we go crying all the way from the bank… but, at the point of ‘cash-in’, the Agent representative is able to verify the name of the user, before pressing ‘Confirm’ and hence safeguard any “accidental” cash-ins.
When I go to the bank, I can easily fill in a deposit slip and make a deposit into another person’s account. I have been to other regional markets and have noticed that the mobile money providers have forms that we need to fill in when making a deposit/’cash-in’. I imagine the same could be done here?
So, Telecel, it would be great if you can remove the limitation of depositing only into my wallet, basically allowing any user (even someone using Ecocash) to come deposit into my Telecash account, and you make your money through ‘cash-out’ and other in-platform services (DStv payments, utilities and the like – Oh, while we’re at it, what’s the latest on ZESA prepaid electricity coupons through Telecash?)