Earlier today we attended the official launch of a partnership between EcoCash Diaspora and Western Union. The service which was already reflective on the EcoCash menu yesterday, had been on the cards for months now.
Western Union is the latest remittances firm to partner with EcoCash after a similar arrangement was penned with WorldRemit earlier this year. Its shortcoming was the limited number of countries in WorldRemit’s network.
The EcoCash Western Union arrangement allows diasporans to send money straight into a recipient’s EcoCash mobile wallet (EcoWallet). There are two ways to do this.
One option is where the sender requests to direct funds straight into the recipient’s EcoWallet which is represented by the recipient’s phone number.
The other option from this EcoCash Western Union partnership is similar to the current Western Union remittance system. A sender receives a reference number that they send to the recipient. The recipient then follows prompts under the EcoCash Diaspora tab found on the EcoCash menu, enter the reference number and the funds will be deposited into their wallet immediately.
Both options come with no added charge for both the sender and recipient beyond the standard Western Union and EcoCash rates.
Speaking at the launch, Econet’s Business Development Manager, Natalie Jabangwe, highlighted the merits of convenience that the service would bring to recipients and the vision EcoCash has for contributing to a cashless society.
This service essentially turns EcoCash’s 15 000 strong agent network into Western Union cash points, not to mention the ability to handle retail transactions with remittances. Its akin to what telecash introduced with Mukuru earlier this year.
The press release from EcoCash and Western Union is available below.
EcoCash Diaspora in remittances partnership with Western Union
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This is all great, but I have to pay fees twice, first to western union when sending the money and then again to ecocash when taking the money out or spending it. I would rather pay western union and get cash .. no second fees.
Who cares about Westen Union? Why don’t Econet partner with the real player…Mukuru? What’s going on?
This is great news. However, my question is does the service apply to countries where Western Union operates. For instance, it has been impossible to receive money from Australia through Western Union because most organisations in some western countries do not want to do anything with Zimbabwe
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Why going round in circles wonderful people, come on Ecocash. You have our support. Forget about Western Union and take the fort in Zimbabwe. We are proud of your business strengths.
I knw ths story wldnt end without techzim comparing it to smthng ‘better” done by telecel….
I m convinced techzim are housed at the red building
as usual, the article lacks important infor like how much they will be charging.