In a fulfillment of promises made a few months ago Telecel has, through a partnership with Mukuru, now enabled the remittances of diasporan funds straight into the mobile wallets of its mobile money service telecash.
With this new arrangement, which will currently be active for remittances from South Africa, when someone sends money through Mukuru and chooses the Telecash collection option, the money will be received in the recipient’s Telecash mobile wallet. It will reflect instantly in the recipient’s Telecash wallet without any charges.
Once the money is in the local mobile wallet, a subscriber can perform all the usual activities that come with mobile money. In Telecel’s case this will mean that funds can also be withdrawn on ATMs and accessed through any Zimswitch points courtesy of its Gold Card.
Telecel pointed out that the whole remittances through the mobile wallet as recently as two months ago when it launched its Gold Card. The arrangement with remittances company Mukuru is also similar to what EcoCash facilitated in June with World Remit.
Although that arrangement has been lucrative for Econet, it has failed to offer remittances for the South African diasporan market which by anyone’s guess is a huge market in its own right.
You can read the full press release from Telecel below