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.
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.
The 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.
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.