So this morning EcoCash stepped up its game by introducing its latest innovation called EcoCash Business Wallet. The EcoCash Business Wallet is a wallet that is meant to give businesses more control of their funds.
Essentially, businesses will now be able to make and receive payments directly into their EcoCash Business Wallets. The wallet is an extension of the existing Ecocash wallet that caters for individuals but forgot to satisfy the unique requirements of businesses.
By introducing this Business Wallet, EcoCash has become the first to offer a Business Wallet around a mobile wallet.
What’s the big deal with EcoCash Business Wallet?
Before today when a merchant wanted to move their money out of EcoCash and put it into their banks’ account, they had to physically go to EcoCash and ask for their money to be moved.
Not anymore. Merchants now can move their funds from the comfort of their offices on their phones. As easy as that. The business wallet is going to make it easier for business to get their funds (huge funds to be exact) within 24 hours rather than waiting for days. Thanks to this business wallet, businesses will now be able to move their money to any financial institution anywhere and anytime.
Who is it for?
The target market for the EcoCash Business Wallet is merchants, billers, payroll wallet holders agents and ordinary business people who are all integral in EcoCash’s ecosystem.
Not only does the Business Wallet serve formal businesses but informal businesses can also use it. But the benefits they would enjoy would be not as much as those enjoyed by formal businesses.
Not to mention the Business Wallet’s enhanced security (dual authorization for transactions) and operability across all sectors (informal and formal). One of the loudest (I think) feature of the Business Wallet is the ‘increased limits’. EcoCash’s business wallet transactions will see businesses being able to do maximum transactions that amount to $500 000, although this will depend on a business’s size.
What do I need to have the EcoCash Business Wallet
You only need to register for the service to be activated on your existing wallet. The registration can be done by contacting one’s Account Manager and complete a sign-up form.
And once a business has an EcoCash Business Wallet, they can access it by dialling*152#.
Stay tuned we will give more details.
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