Techzim

Zimbabwe and regional technology news and updates

advertisement
advertisement

RECHARGE

Nyaradzo logo


Yet again, EcoSure registers users without consent and deducts money

Almost every single startup has dreams of one day launching an IPO. Going public has its charms, access to cheaper funding being the main draw. However, being publicly traded has its drawbacks. That cheaper funding comes with scrutiny and certain expectations from investors. Econet and EcoSure have investors too, hence expectations. That is what is […]


Cassava Smartech Zim, now trading as EcoCash Holdings Zimbabwe features at ZITF

Diversified fintech group Cassava Smartech Zimbabwe Limited, which is now trading as EcoCash Holdings Zimbabwe Limited, is exhibiting at this year’s Zimbabwe International Trade Fair (ZITF) where it has put up a state-of-the-art stand bringing together all its business units and brands. Although attendance at this year’s edition of the ZITF is somewhat subdued due […]


Wa-Faya now automatically carries voucher balances over

It’s been two months since Simbisa brands launched their Diaspora focused Wa-Faya vouchers and it seems they are actually working hard to make this a success. They have made a couple of improvements since they started. Including adding the Rand EFT payment option for the sake of those in South Africa but unfortunately, the system […]


US Courts tell Apple they cannot stop developers from using alternative payment systems

Apple has just been dealt a death blow in their court case where Epic Games, the makers of Fortnite, are suing them over some of their App Store policies and terms and conditions. A court in California, where Apple is located, has ruled that Apple cannot force developers to exclusively use their Apple Pay platform. […]


This Ecocash horror story shows how systems can fail you

Earlier this week I wrote about the need to make banks and Zimbabwe’s financial institutions accountable for some of the losses that people suffer through hacking and fraud incidents. There was a lot of debate on both sides, especially the more security conscious among our readers insisting that it’s the responsibility of account holders, not […]


BancABC is running prepaid Visa money-back promotion

In case you haven’t noticed there is a prepaid Visa/MasterCard promotion war out there as banks duke each other in a bid to win your cash. BancABC has been at the forefront of these wars with various promotions including one involving Spotify and Apple Music as well as offering Chicken Hut meals to those who […]


Full Text: ZSE Direct adds Odd Lot Board in a bid to lure individual investors

Last year the Zimbabwe Stock Exchange launched its own direct trading platform, ZSE Direct putting in competition with FINSEC’s C-Trade. Now a year later they are adding a new feature to their offering-Odd Lot Board. This may be their attempt to lure individual, casual and low-value investors. They have now set the minimum buy amount […]


Banks need to pay back the money lost by account-holders to scammers & hackers

Recently one of South Africa’s leading banks, FNB, lost an interesting suit involving about R2.9 million or about US$202 000 being siphoned out of a client’s bank account. The client who can only be described as technically challenged was duped using an online social engineering scheme, he gave the thieves his personal details which allowed […]


South African to launch a digital currency called the E-Rand, we have been having it

One of the most memorable ads from the last decade is, at least for me, the Vodacom “we have been having it” series of ads including this one. In them, an Id Amin inspired character expresses amazement that people are constantly praising (yep yep yeping) Vodacom’s features like custom ring tones and having up to […]


Zimnat partners with BancABC in their Gadziriro sign up drive

Recently I decided to have my own funeral policy cover for me and my family. For years, I am ashamed to say, I had been relying on my parents’ cover but the third wave of COVID-19 and my own personal health demons made me confront my own mortality and I decided to go on the […]


Socialite closes Gofundme campaign after it torched a storm on social media

Crowdsourcing is nothing new to Zimbabweans. Several famous fundraising pitches have been made over the years including one that raised close to $100 000 for Cyclone Idai victims. Medical appeals are also not uncommon with several cash-strapped Zimbabweans using the platform to try and raise medical fees for expensive medical procedures. The latest such medical […]


NSSA closes scores of pensioner accounts in a bid to weed out ghost accounts

Zimbabwe’s National Social and Security Authority (NSSA) has always been accused of harbouring a lot of ghost accounts on its books among scores of other improprieties revealed in several audits. Lately, they embarked on a mission to rectify this anomaly but they seemed to have bungled it. Now their latest attempt to clean the books […]


The RBZ needs to scrap weekly and monthly limits for mobile money too

Yesterday there was a bit of a relief when Ecocash sent out an SMS announcing that transaction limits had been lifted from the paltry $5 000 ZWL per transaction up to a more acceptable $20 000. This was long overdue, the arbitrary limits were making life difficult for the bulk of transacting public out there […]


EcoCash transaction limits now ZWL20 000

The EcoCash transaction limits for all Payment services have been adjusted to ZW$20,000 per transaction up from the previous ZW$5,000 per transaction. This adjustment will be effective today, 25 August 2021 at 18:00hrs.


IPEC says Lobola Assurance is not registered with them

The Insurance and Pensions Commission (IPEC) has issued a statement over a Lobola Assurance banner that is doing rounds on social media especially WhatsApp. The banner claims to be from a company that calls itself Lobola Assurance and shows various packages which start from US$1.99 per month up to $19.99 per month. There was a […]


PayPal users in the UK can now buy, hold and sell Bitcoin too

At the end of March this year PayPal pulled a surprise when it announced that US PayPal account holders could now buy Bitcoin, Litecoin and Ethereum right from their dashboards. This seemed like an experiment and if it was it seems to be going well too. Now PayPal has just extended this feature to PayPal […]


Steward Bank introduces another promo as the prepaid Visa/MasterCard wars heat up

Steward Bank has just fired another shot as the prepaid Visa and MasterCard war among banks continues to heat up. A few weeks ago we learnt of their competition where you could win as much as US$3 000 if you spend at least US$20 using your Steward Visa Globetrotter prepaid card. Now they have just […]


EcoCash tariffs going up in a few weeks, up to 25% increase

EcoCash, the operators of Zimbabwe’s largest mobile payments service of the same name has announced that they are increasing their tariffs effective the 21st of September 2021. EcoCash effected higher changes to their pricing for higher transaction amounts. The biggest jump is the 25% increase in the fees for paying $1 000 to $1 499. […]


Wa-Faya is awesome but it doesn’t yet support Dial a Delivery

At the close of last month, Simbisa brands introduced the Wa-Faya voucher. These vouchers are a great initiative that closes a glaring gap in their line of services. You see, up until we had Wa-Faya it was hard for you to buy fast food for your family back in Zimbabwe if you were in the […]


ZB introduces its own prepaid Visa promotion as banks scramble for customers

A few weeks ago we wrote about BancABC’s latest prepaid Visa promotion where you stand a chance to win a Chicken Hut meal if you order their prepaid Visa via Branch X. Now it seems ZB has entered the fray with their own promo as the scramble for customers heats up. Don’t look at me […]


Government launches ZMX a commodities exchange

Recently the Zimbabwean government launched a commodities exchange known as Zimbabwe Mercantile Exchange Private Ltd or ZMX. This exchange will allow farmers to trade about 18 commodities excluding maize. This will be the first such exchange in Zimbabwe ever since the other commodities exchange known as ZIMACE shutdown in 2001. Today we launched #Zimbabwe’s Commodities […]


MasterCard is dumping the magnetic strip

The magnetic strip of magstripe swipe card was invented by IBM engineer Forrest Parry with invaluable help from his wife back in 1969. It has been the basis of bank cards for decades and there is hardly a point of sale machine that doesn’t support them. They are cheap and simple to make but the […]


South African bank copies Zimbabwean banks’ lite account model

South Africa has a new bank called Bank Zero. Its operating model will sound very familiar to Zimbabweans. The bank is targeting mainly those who are unbanked in the Southern African country by using a model that Zimbabwean banks such as Steward, FBC, BancABC and NMB, CABS and Agribank have perfected over the years. It’s […]


ZIMBOCASH users can now transact on its exchange

Ah… ZIMBOCASH (ZASH) it has been a while since I thought about this alternative currency. The last we heard was that it was going through a system upgrade that would allow it to better protect itself against people who were skirting the rules. Well, unbeknownst to me ZIMBOCASH went live last week and the team […]


InstaCash, a local app that allows you to lend & borrow through your contacts

The term “credit is king” is one that I have bandied about over the last year or so because as we wade through Zimbabwe’s never-ending economic struggles, lines of credit are valuable in order to make moves in this fast-moving digital age. Now, traditionally one would go to a bank or a microfinance institution to […]


58 fintech firms have registered for the RBZ’s Regulatory Sandbox

In an effort to bring new technologies into the fold the Reserve Bank of Zimbabwe (RBZ) initiated a Fintech Regulatory Sandbox. This platform is a sanitary and controlled environment that the central bank and institutions can experiment with innovations across the payments and financial space. There has been an update on the progress of the […]


Flutterwave & PayPal waive international fees for African merchants

Flutterwave and PayPal are running a promotion aimed at encouraging African merchants to market their goods and services internationally. Under this promotion, Flutterwave merchants/users will be able to receive US$500 worth of receipts through PayPal for free. Normally, merchants are charged 4.4%+US$0.30 per transaction. Flutterwave has collaborated with PayPal to waive off charges on the […]


Cassava Smartech to become EcoCash Holdings Ltd to avoid confusion

Cassava Smartech Zimbabwe is getting a facelift, in an announcement to stakeholders the company notified all concerned parties that they are going to be shifting to the name EcoCash Holdings Zimbabwe Limited to avoid confusion. Cassava’s Statement on the name change reads as follows: Members are advised that the Company’s controlling shareholder, Econet Global Limited, […]


Zimswitch’s bulk payments solution ZEEPAY has resurfaced

In 2018, Zimswitch, at its Payments Conference announced that it would be bringing a bulk payment solution called ZEEPAY. The product builds off the immediate settlement services we all use by way of ZIPIT. So we can all get caught up here’s what Zimswitch’s ZEEPAY can do. ZEEPAY is a secure, cost effective and efficient […]


Google now rejecting prepaid cards for some of its services

Recently I decided to brush up on my JavaScript skills and decided to deeply learn the language, something I have avoided for years for some reason. As part of my learning, I was required to sign up for a Firebase account and during the process, I was asked to add my card details. I whipped […]