Category: Fintech
National Building Society Finally Linked With EcoCash
National Building Society (NBS) account holders are now able to link their bank accounts with the EcoCash mobile money platform. By doing so the bank has joins others like Standard Chartered, ZB Bank. CBZ, Stanbic, NMB, Agribank and Banc ABC etc. which are already integrated with EcoCash. Obviously, NBS was prompted to link its bank […]
Nedbank Customers Will Not Be Able To ‘Swipe’ And Do Mobile Banking This Sunday Due To Planned System Maintenance
Nedbank customers will not be able to do many banking services on (this) Sunday morning due to a planned system maintenance by the bank. The maintenance will be carried out from 2 am to 5 am. During that time customers will fail to use services like Nedbank Point of Sale devices (Swiping), Mobile Banking, ZIPIT and […]
EcoCash Says Its Service Is Currently Facing Challenges
EcoCash has confirmed that its service is currently not running at full throttle. This the second time EcoCash has been down in less than two months. The last time EcoCash experienced this, commerce virtually came to a standstill countrywide. Quick NetOne, Econet, And Telecel Airtime Recharge Number to recharge: Airtime amount ($): EcoCash or OneMoney […]
How Much Does It Cost You To Rent A POS Device For An Event From A Bank?
The ongoing cash crisis in Zimbabwe is being tamed by the use of plastic money (debit and credit cards) (through POS devices) and mobile money. The problem is that not everyone has the capacity to accept plastic money for the simple reasons that POS devices are expensive and there is are too many requirements (for […]
Shares Anyone? 2100 Open Accounts On Online Trading Platform, C Trade In Just 2 Weeks
C-trade, the online trading platform which was introduced midway this month has already seen 2100 retail investors creating accounts on the platform. Through this platform, investors are able to deposit money via banks and mobile money wallets, then go to the capital market (Zimbabwe Stock Exchange) and buy shares, sell them and withdraw back that […]
ZB Bank Suspends Swipe-Into-EcoCash, Joins Stanbic
ZB Bank debit card holders are not currently able to do the Swipe-Into-EcoCash service. In a ‘tweet’ reply, to a customer who had asked why he is failing to do swipe into EcoCash, ZB Bank replied that the service was currently suspended. Yesterday in the afternoon, we reported that Stanbic had also suspended Swipe-into-EcoCash and […]
Stanbic Suspends Swipe-Into-EcoCash Service Until Further Notice
Stanbic bank has effectively stopped the Swipe-into-EcoCash service until further notice. The service which enables bank customers to move their funds from their bank account into their Ecocash mobile phone wallet was abandoned by Stanbic without giving an explanation. Here is Stanbic’s notice; Also Read: UPDATED: Swipe Into Ecocash Here To Stay Says Ecocash, Econet […]
Online Transactions For CBZ Customers Now More Secure With The Addition Of ‘Verified-By-Visa’ Security Feature
CBZ has introduced a new feature to its Visa card that is designed to make online payments of its customers more secure. The feature, which is called, Verified-By-Visa (VBV), helps prevent people or hackers to use an unsuspecting customer’s CBZ Visa Card without his or her permission. Cards with no VBV only require a customer’s […]
Netone Gives $5 Airtime As Compensation To OneMoney Debit Card Users Who Experienced Challenges To ‘Swipe’ Over The Weekend
Surely Netone’s action is something other service providers should copy when they inconvenience their customers. I couldn’t believe it when we discovered that Netone gave its OneMoney customers $5 worth of airtime after the customers experience some challenges in using their OneMoney debit cards over the weekend. Many OneMoney users took to Twitter to vent […]
A Region In Zimbabwe Was Using Botswana Mobile Network And Mobile Money Until Today: They Were ‘Ecocashing’ Forex!
Being shunned by local telecoms operators was most probably a blessing in disguise for residents of Maitengwe in Matabeleland South. This is because residents of Maitengwe used foreign currency (forex) mobile money wallets since they used telecommunications network from Mascom and Orange. This was disclosed during today’s launch of Maitengwe USF Shared Base Station, a telecommunications […]
How To Buy Shares On Web, Mobile App Or Even With Kambudzi Via USSD On The C Trade Platform
The ability to trade on Zimbabwe’s capital markets through digital channels is a great deal. Buying and selling of public company shares has just gone mainstream especially because this can be done using even the most basic of mobile phones without needing to access the internet. In Zimbabwe we call such phones tumbudzi in plural […]
All The 20+ Steps To Register To Trade Shares On C Trade Using Kambudzi (USSD)
We used a smartphone to go through the USSD registration on C Trade. Using a feature phone without a qwerty keyboard was too taxing, a colleague now hates me for asking that she goes through it. We also wanted to use screenshots so a smartphone was the only way. Please read the accompanying article that […]
President Launches C-Trade: Zimbabwe’s First Online Platform To Trade Shares Listed On Zimbabwe Stock Exchange
So, this is it, Zimbabweans can now trade shares listed on Zimbabwe Stock Exchange online. This is being made possible by C-trade, which is a platform that enables the buying and selling of shares online on a computer or mobile device. The launch was graced by President Mnangagwa who said; The establishment of a well-coordinated […]
President Opens Empowerment Bank, Zimbabwe’s First ‘Youth-Focused’ Bank
Zimbabwe’s first youth-centric bank, called Empowerment Bank (EB) has just been launched today by President Emmerson Mnangagwa. The bank, which is a microbank, in essence, has “been formed with the purpose of providing social and financial solutions to the financially excluded population with a greater focus on the youth”. EB was launched under the auspices […]
The New Ecocash Business Wallet Is Not Only For Formal Businesses, Informal Traders Are Also Catered For
A day after the launch of the EcoCash Business Wallet, some people may still be wondering if the Business Wallet is only for formal businesses. But No. EcoCash Business Wallet serves every business, both formal and informal. Keeping in mind that Zimbabwe has a significant amount of trade that happens in the informal sector,I think […]
EcoCash Unveils A Business Wallet Dedicated For Business Payments
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 […]
Netone Celebrated Fathers Day By Giving Free Onemoney Debit Cards With $5
Netone yesterday took time to honor fathers by giving its customers (who happened to be fathers) free OneMoney debit cards as part of their celebration of Fathers day. The OneMoney debit card was launched last year in October to offer convenience to OneMoney users by allowing users to ‘Zip’ from bank accounts into the mobile account (mobile number). Netone’s […]
Mobile Trading On ZSE To Be Finally Introduced By The End Of This Month
By the end of this month, traders will be able to do online and mobile trading in securities listed on the Zimbabwe Stock Exchange and Financial Securities Exchange. The mobile trading platform will enable traders, both local and foreign to actively manage their portfolios even when they are away from a desktop/laptop. Mobile Trading is […]
OneMoney Clocks 1 Million Subscribers
The battle for dominance on mobile money platforms is increasingly getting exciting with Netone announcing that its mobile money platform, OneMoney clocked 1 million subscribers. this means that for every 4 subscribers of Netone 1 subscriber has a OneMoney account. Mobile money transactions are proving to be integral in Zimbabwe’s financial system, with these transactions making […]
Techzim Talks To Digital Payments Firm, Cellulant That Recently Raised $47.5 Million
As digital transformation continues to shift the way we think, live and do business, Fintech in Africa remains one of the fastest growing and innovating industries, capturing the imagination of both industry and consumers with topics like mobile banking being discussed across Africa Companies in Fintech and other technology sectors led Private investment firm TPG, […]
OneMoney Throws Punches At Ecocash
Yesterday’s proposed ban of the ‘Swipe-into-Ecocash’ service didn’t go without NetOne’s notice. This morning NetOne posted pictures on their social media platforms (kind of) mocking the ‘Swipe-into-Ecocash’ service and simultaneously promoting their OneMoney (OneMoney Card to be specific) as some kind of an alternative to ‘Swipe-into-Ecocash’ service. However, the sarcasm is misplaced. Ecocash is not a competitor […]
‘Card Cloning’ On The Rise: Steward Bank Warns Customers To Guard Against This Type Of Fraud
Steward Bank has issued a notice warning its customers about the increased risk of transactions involving credit and debit card cloning (card cloning). The Customer Notice is asking customers to be vigilant when using their cards and it went to great lengths prescribing habits customers can take to guard against card cloning. The increased use […]
UPDATED: Swipe Into Ecocash Here To Stay Says Ecocash, Econet And Steward Bank
So this is an update to the article. Earlier on I rushed to publish the press release from Ecocash without any context (and I was out of the office for most of the day at that). So now I am told that there was a squabble between Ecocash and ZimSwitch which got leaked to media. […]
CBZ’s Smartchash Now Charges A Monthly Service Fee
CBZ low-cost account Smartcash is now charging monthly service fees. Previously, Smartcash had no monthly fee charges thus offering low-cost accounts to consumers. But, customers are now having to pay $3 per month to service their accounts. The Reserve Bank of Zimbabwe introduced the National Financial Inclusion Strategy with the sole aim of improving financial inclusion. […]
Netone Silently Launches An Android Mobile App
You know the long boring process of responding to many prompts so that you can buy internet or WhatsApp bundles on Netone. You respond to at least 4 prompts just to buy the bundles. Thank God Netone has introduced an Android App that dodges this long procedure. Econet and Telecel already had similar apps. It […]
City Parking To Introducing Pre-Paid Parking Cards To Help Drivers Save Time
City Parking is introducing a new Pre-Paid Parking Card and this will be available from the 16th of May 2018 (today, if you had not checked the dates). The card will be the same as an ordinary bank card in size and will parking in the CBD less of a chore. How can you get your […]
CABS Joins Others In Stopping Manual Transactions In Branches, They Have Done It Partially Though
CABS has issued a statement advising customers that they have stopped processing some specific transactions within their banking halls. They join the growing number of Zimbabwean banks that are moving to digital platforms exclusively. Growing up the fact seemed to be that CABS had the best real time systems in the Zim financial sector. I […]
Reserve Bank Acts Typically Zimbabwean: If You Don’t Understand The Technology, Fear It And Ban It
Some years ago I founded an EdTech (educational technology) startup. We had solutions for primary and secondary schools. The solution may have been not so good or maybe it was but that was not important because the roadblocks at schools that we wanted to sell the solution ensured we could not test that out even […]
Livestream: Chaka-chaya neEcoCash Monthly Draw In Bulawayo
Livestream of the EcoCash Chaka-chaya neEcoCash promotionmonthly draw that is happening inn Bulawayo Quick NetOne, Econet, And Telecel Airtime Recharge Number to recharge: Airtime amount ($): EcoCash or OneMoney number: Buy Please dial our USSD code *405# on your phone to […]
Reserve Bank of Zimbabwe Bans Cryptocurrency Trading. Banks Given 60 days To Comply (Full Statement)
The Reserve Bank of Zimbabwe has issued a directive to Zimbabwean financial institutions prohibiting them from working with Cryptocurrency exchanges or holding any accounts of people trading in cryptos. The central bank has given financial institutions 60 days to end their existing relationships with crypto-currency exchanges. Here’s the full circular issued on 11 May 2018: […]