POSB launches ZimSwitch Mobile powered mobile banking service

Back in march when news first broke that ZimSwitch was working with Telecel to power mobile banking for local banks, the two banks that Telecel confirmed they were working with were CABS and POSB. CABS launched its mobile banking service (branded textacash) in September. As for POSB, ZimSwitch told us exactly month ago the bank was in “live pilot”. Through adverts in the press today, POSB has announced that its mobile banking service is available to the public.

So how much does it cost to use EcoCash?

On Friday last week, Econet launched EcoCash, a mobile money service that so far looks like a game changer. On the local market at least. The concept is a tried and tested one. M-PESA has worked phenomenally well in Kenya, and Econet has read the M-PESA story cover to cover. In fact it is its similarity to M-PESA that gives Econet the game changing potential it has with EcoCash.

The EcoCash launch event

Last night, we attended the official launch for Econet’s EcoCash mobile money service. Even though the event started some 40 minutes late, there was a series of polished presentations, the highlight being the Zimbabwe Reserve Bank Governor’s participation as guest of honour.

Mobile Moola, FBC’s ZimSwitch Ready mobile banking service launches

Last week, we posted that ZimSwitch was launching a mobile banking service called ZimSwitch Mobile and that it would start rolling out the service to banks before the end of September, with more banks following. Immediately after we posted that article, a reader sent us a tip that the service was already live at CABS.

Econet announces the launch of EcoCash

We’ve just received a press release from Econet PR announcing the launch of EcoCash, the mobile banking service. The release doesn’t disclose much about how the service will work. Just a bit more than what we found out yesterday; that a subscriber will not need a bank account and that the service is mobile network neutral. New information in the release is that Econet has signed up some 500 EcoCash agents across the country, and that Zimpost,