BancABC has become the latest entry into the zero-rate revolution. The bank announced this morning that as long as you have an Econet line you won’t need data to access its A360 mobile app.
Access our #A360MobileApp 📲 at zero cost! 🥳— BancABC Zimbabwe (@BancabcZW) June 9, 2021
If you have an @econetzimbabwe line, you no longer need mobile data to access your favourite services on the #A360MobileApp.📱
Download the #A360MobileApp on the App Store or Google Playstore today!#FreshThinking #SmartBanking pic.twitter.com/gijtgdJE4H
Now, this of course great news because it means that we now have five banks that offer zero-rating. Stanbic Bank was the first and blazed a trail that Nedbank, First Capital, CBZ and now BancABC followed.
As good as this is, BancABC has not zero-rated all of its banking platforms like what we saw with Stanbic. It has followed the same course as CBZ and Nedbank did by providing data-free access on its A360 mobile app. However, it’s certainly better than nothing because data prices are at a point where many Zimbabweans are limited to WhatsApp bundles. Free access to banking services that are more extensive than what you’d get on a WhatsApp bot is something to be celebrated.
What are all the other banks waiting for?
When Stanbic Bank announced that it was zero-rating its banking platforms, I for one thought this trend would spread like wildfire. But as we are seeing now progress has been slower than I anticipated. I thought that banks would hop on the opportunity to offer a free access platform further fortifying their position as the alphas of the financial sector after EcoCash was defanged by the Reserve Bank of Zimbabwe.
Where are Telecel and NetOne in all of this?
As I am sure you are too keenly aware because you can’t get much past the Techzim community. Econet seems to be the only mobile network operator that is offering zero-rating.
Many in the comments often call Econet and its sister companies a monopoly, which in some cases is unfounded. What I mean by this is that Econet is seemingly on the bleeding edge of new services and products. And even if they don’t come up with them first, they seem to be ceaselessly refining and finding new angles to attack the market.
Now at this point, it worth speculating that NetOne and Telecel might not have the technical wizardry in line yet to offer zero-rating. But with the way things are going they might need to plant the foot hard down on the accelerator because they may start to see subscribers shift to enjoy data-free services from companies that have aligned with Econet.
You should also check out:
- ZERO DATA: Techzim is now free, no data needed!!
- Zero data costs for Stanbic bank platforms, zero rating first
- First Capital follows Stanbic by zero-rating banking platforms
- Nedbank rolls out data-free mobile app as zero-rate revolution continues
- CBZ Bank joins the zero-rate revolution