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Meikles Financial Services set to launch its own MyCash Card

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After the recent launch of the MyClub Card which seems to be aligned to the Innscor group and its cousins, it turns out the Meikles group is developing a similar product under the project name MyCash Card.

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Booths inside Meikles related outlets like Pick n’ Pay are already sporting some of the MyCard branding and handling some services, the development of the card services is still ongoing as can be seen via the incomplete website. The idea is along the same principles as the MyClub card but with several enhancements.

mieklesThe Meikles MyCash card seems to be a bank sponsored arrangement and has a structure similar to the loyalty arrangement we have discussed before. It offers all the mainstream mobile money transactions including transfers, utility payments and savings in addition to the banking services and utility payments.

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It will accept payments from ZimSwitch, Visa, Mastercard and most if not all of the mobile wallets. It will also accept inward diaspora remittances from an undisclosed partner.

The card will use USSD (provisionally *212#, its not yet active), a mobile app (link not yet available), POS and web-based transactions. Direct P2P transfers are possible from card-to-card and card-to-other platforms via ZIPIT.

We are not sure yet whether it will bridge the interoperability divide and conduct wallet to wallet transfers with ease as this has not been happening fluidly across the current operators.

While a lot of questions on the Meikles card haven’t been answered so far (we made formal inquiries with Meikles Financial Services, they are yet to share more details) it seems like an ambitious product. We will be updating as we get more details.


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6 thoughts on “Meikles Financial Services set to launch its own MyCash Card

  1. Mycash seems more promising with more options like ebanking,mobile app,zipit etc.They could have used a different name instead of Mycash, seems to me they riding on noise made by Ecocash, Telecash, Textacash ,Nettcash and Smart Cash

  2. But POSB and CBZ smartcash already allow sending to x via zipit. I think this is the same thing as smartcash just branded differently. No ways you can send cash into econet ecosystem that easily.

  3. just a bit of info here. nothing new to write home about. POSB did it

    Features of Peoples Choice Account

    No monthly service fee.
    Initial deposit $2
    No minimum balance
    Free debit (ATM) card.
    Unlimited withdrawals
    Access to POSB ATMs and those on Zimswitch
    People’s Choice Account debit card can be used to purchase goods in retail outlets displaying the Zimswitch logo
    Cellphone banking via CellBank (buy airtime, check your balance, transfer funds and so much more)
    Safer than carrying cash
    Customers can do the following transactions on their People’s Choice Account

    Buy goods in retail outlets displaying the Zimswitch logo
    Get cash back
    Withdraw cash from both POSB and Zimswitch enabled ATMs
    Deposit cash into account
    Send money to any cell number
    Pay DSTV subscriptions and Telone Bills
    Purchase Prepaid Electricity
    Sell prepaid Electricity
    Top up airtime for self and for others
    Check Account balance
    Transfer funds to POSB accounts and to other banks
    Bill payments

  4. CBZ Did it

    Features

    CBZ Debit Card
    Access to CBZ Mobile Banking (Smart Money)
    No minimum balance
    No monthly service fees
    Services Available

    The following services are available through SmartCash.

    Cash Deposits
    Cash withdrawals (branch, ATM & POS)
    Funds Transfers to CBZ Bank account and ZIPIT (Interbank).
    Balance enquiry
    Mini Statement
    Airtime Top Up Own Cell Phone
    Airtime Top Up Third Party Cell Phone
    Bill Payments (City of Harare & DSTV. Additional billers to be added)
    POS Purchases and Cash back – on CBZ Bank devices and Zimswitch enabled devices

  5. But finally wait for it… wait for it. On my cash they talk about insurance. que textacash.
    If anything I think the fact that there is a CBZ, POSB, CABS and FBC logo should tell you what Meikles are doing. They are simply cooking up a platform where I think they will ask you to choose your backing financial institution. But remember once you have smart cash on your line, cant have posb or texta cash or mobile moola too. Just saying.

    Products & Services

    send money to any cell number
    top up airtime
    check balance
    purchases
    cash back
    deposits
    cash withdrawals
    transfers to any Textacash card, CABS card or other bank account
    bill payments

    EasyInsure
    EasyInsure is a flexible and affordable funeral plan that offers a once-off cash benefit of $1000.00 to cover funeral expenses in the event of death of the insured person

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