Press Release: EcoCash slashes Merchant fees by up to 50%

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A press release has been received from Ecocash in regards to a reduction in their Merchant fees that their customers will have to pay.

It is posted below for your benefit:

Econet Wireless is reducing EcoCash tariffs on all merchant payments by up to 50% with immediate effect. The reduction is aimed at further providing ease and convenience of transacting using EcoCash, which has become the most used platform to transact in Zimbabwe owing to the current cash shortage. The reduction of EcoCash Merchant tariffs will see customers charged transaction fees as low as $0.01 for purchases from $1.00.

Econet Wireless CEO Mr Douglas Mboweni said, “We are inspired to transform lives of our customers through the use of technology. In view of liquidity challenges, EcoCash continues to give our customers the convenience, security, as well as affordability to buy goods and services without the worry of accessing cash. Our vision is to see a situation where our customers can buy literally everything using EcoCash from payment of utility bills, hospital bills, purchase of groceries, fuel, school fees, and at vendors’ markets. I am grateful that we are already moving in that transition and importantly are thankful to our regulators and customers for the support that they continue giving us in seeing to it that we attain a truly cashless society.”

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The reduction of Merchant fees by Ecocash comes at a time when customers are increasingly using their mobile wallets to transact through Merchant payment solutions. This increase in cashless transactions aligns with the current cash shortages in the market.

General Manager for EcoCash Natalie Jabangwe-Morris said, “We are ever thankful to our customers for their continued support. Our ‘Zero Fees Thursdays’ where we were not charging our customers merchant fees ended on 30 June 2017 and the reduction of Merchant fees today is part of our vision to continue giving our customers value for their money. We are excited that the reduction of EcoCash Merchant charges is also coming at a time when we are reaching the culmination phase of the EcoCash Chakachaya/ Ziyawa Promotion running until the end of July 2017. Our customers can still continue enjoying hassle free transacting at reduced transaction costs at all merchants nationwide and earn points to enter the Chaka-Chaya neEcoCash Promotion.”

“We invite our customers to come along and be part of more than 100 000 customers standing a chance to win part of $400 000 worth of unique prizes including goats, cows, EcoSure Cover, Cash, grocery vouchers, electricity and airtime vouchers, tablets, and residential stands,” she said.

EcoCash is the current recipient of the 2017 Mobile World Congress Best Mobile Payment Solution Award.

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