When Stanbic Bank announced that it was zero-rating its banking platforms we wondered how long it would take before other banks followed its lead. It looks like First Capital Bank was the quickest out of the rest after it announced this morning that it is also zero-rating its banking platforms.
I should also mention that this is a teaser. There were no further details about the chatbot or which networks were going to be under the zero-rate umbrella.
However, it’s pretty obvious that Econet is the mobile network operator that First Capital got approval from, judging by the fact that Stanbic hasn’t (to the best of our knowledge) announced that they were successful with NetOne and Telecel.
All in all, this is very encouraging, we now have two banks that offer their customers free access to banking platforms and it won’t be too long till the others join in.
On the mobile network operator side of things, NetOne and especially Telecel will have to get the lead out and streamline the zero-rating process. If they hope to make a dent in Econet’s monopoly they will have to make the procedure to get zero-rated a lot easier.