Here’s something interesting that I spotted while paying for lunch at an eatery in Harare – the cashier was handling payments through a card based system that works through a tapping mechanism. No, it wasn’t the EcoCash Mastercard or telecash Goldcard.
It turns out its an NFC enabled “tap and go” system that works with cards synced with Econet’s EcoCash wallet. Instead of the conventional card swiping, going through a string of USSD commands or using an EcoCash app, a simple tap deducts the amount owed from a user’s EcoWallet.
This clearly has more relevance to the Zimbabwean market than the new Apple Pay system that relies on credit card details (not so widespread in Zimbabwe) and oh yes, an iPhone.
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From the little information I managed to get from the cashier who was handling transactions using this NFC system, so far only a few Econet employees have been using the cards. The product hasn’t been released for the general public so it seems this just a test site for what will be Zimbabwe’s first mobile money NFC payment system.
This sort of product, though a first for the Zimbabwean market, is hardly new. In May 2013 Google and Equity Bank collaborated to introduce the exact same product, called Beba Pay, for use on buses in Nairobi.
The Beba Pay card is offered for free to commuters at different bus stops and the card can be credited at agents or through the phone. Part of its function includes an SMS receipt for transactions. Perhaps Econet wants to take the same approach for kombis in the same way they introduced EcoCash for public transport payments?
Beba Pay has a free app that transforms NFC enabled phones into card readers. This has helped in the adoption of the tech among various retailers and particularly SMEs, a strategy which will most likely be adopted by Econet through its agents and merchant network.
How you think this “tap and go” NFC system will fare in the local market? Will it be huge relief for payment inefficiencies in retailing and public transport?
7 thoughts on “Econet set to introduce NFC payments through EcoCash?”
Why not go the PayPass/PayWave route?
You should understand the whole Idea , concept before you make such comment which has no head or tail and relevance at all here , with all due respect this what they have done before Apple Pay and its working as per Zim conditions for us we like or not there is no one to offer Master , Visa or Amex credit card when we know penetration in credit card segment is very shameful so its linked to your ecocash wallet which most of us have any ways . I wants to see same comping from netwone , telcel and banks let country grow ……. Amen
Why the anger though?
NFC:- Near Field Communication… abbreviations, acronyms… short-cuts, technical terms… kindly explain the concept and what it means before rambling on about the feature or device… this platform is also one for others to learn about new technology – thanks
In a cahsless society, it will work wonders. Obviously cost is a major driver. If too expensive no takers.
BTW is that NFC Tax up on the hill checking us out…….. 🙂
lol. maybe nfc wont be taxed hahaha!
What does NFC mean nhai Tech Zim????
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