In case someone out there is stranded and failing not only to receive online payments for jobs done but generally incoming transfers even as an expatriate, the following are some Zimbabwean banks still accepting international incoming transfers in USD into individual accounts.
An email late Friday, but dated 23 June, sent out to customers from Managing Director Simon Hammond, CABS has announced termination of processing of telegraphic transfers (TT), both incoming and outgoing, for individuals in USD, GBP and EUR effective 01 July 2016. This follows a similar move by NMB Bank Limited nearly two months ago when the […]
Consumerizim, a consumer advocacy blog, reports that the internet banking system of one of Zimbabwe’s largest and most successful financial institutions, CABS, is down for some customers. The issue has affected customers with a certain range of physical access One-Time Password Tokens issued when the the bank introduced the system in November 2013. It’s not clear […]
A whole day of discussions around digital and mobile payments that brought together banks and mobile network operators, was concluded with the Awards Ceremony that recognised the best performing companies and products.
You might have heard that a new South Africa to Zimbabwe remittance service called Mama Money is coming in the next couple of weeks. The key problem that Mama Money identified is that it’s still very expensive for migrants in the country to remit back home so they are bringing a new and somewhat anti-capitalist thinking to […]
Let’s face it, anything that makes the processes involved in banking any easier or faster is always a winner. Safe to say that tech has always been expected to be the one thing that can do this. For local mobile banking solutions the case for making life easier usually involves using a USSD driven solution, something […]
The last time we wrote about ZimSelector, the Zimbabwean online insurance aggregator, the startup had introduced a payment option and was working on signing on more insurance institutions to give users a wider range of options for credible comparisons. After a bit of silence the aggregator has now come out to announce the next phase of its growth. This […]
So in sending money to the UK, one of the questions that people asked me was how do I send money to Zimbabwe. Why send money to Zimbabwe? I know, weird question. But there are people out there that still ask. Well, for those of you that still have relatives and friends that are still […]
Mobile money has redefined financial services locally and every serious service provider in the industry has tried to get in on the action. Local banks were relatively late adopters of m-commerce but despite this some of these institutions have managed to make remarkable progress even in the face of steam rolling competition from the likes […]
Just a few days ago we came upon a Karbonn Smart booth at a CABS bank branch in Harare. On enquiring from the agent we learned that the distributor of the Karbonn devices locally, Solid Ground, have partnered CABS to go after the the civil servants market through providing mobile devices on friendly credit terms. […]
If you have worked or stayed in the Avondale area in Harare, you probably know of a popular food place at the flea market where lots of people religiously enjoy their lunch everyday. I visited the place with a friend today and we were quite intrigued to find they are now accepting Textacash mobile payments.
As you may know, Econet came out yesterday to publicly accuse CABS, ZimSwitch and Kevin Terry of using the Bankers Association of Zimbabwe to fight Econet’s mobile money product EcoCash. The CABS MD, according to campaigning against EcoCash so he can push his own mobile money/banking product, Textacash. Textacash you will remember is basically an implementation of ZimSwitch’s Shared Services platform. And Zimswitch is owned by more than just CABS.
Press releases are usually filled with exaggerated self-praise and sometimes some subdued remarks subtly attacking the competition. Not with today’s press release from Econet Wireless which we posted earlier. The company has fired a salvo at CABS, ZimSwitch and Kevin Terry accusing them of using the Bankers Association of Zimbabwe to fight the EcoCash mobile money service.
A senior Econet Wireless executive, Mr Darlington Mandivenga, who is responsible for the rollout of EcoCash, has dismissed a claim reportedly made by Bankers Association of Zimbabwe’s immediate past president, Mr John Mushayavanhu, stating that Econet has denied banks access to its platform for integration.
CABS, one of the 6 local financial institutions that have been piloting the Zimswitch Vpayments online payments platform, is now rolling out the service to merchants after getting approval from the Reserve Bank of Zimbabwe (RBZ).
As alluded to earlier today, we had the opportunity recently to talk to CABS Managing Director Kevin Terry, about their mobile banking service, Textacash. We discussed how they introduced the new mobile phone (and card) based banking product in a radically changed financial sector. We also how they are reaching the unbanked and briefly touched on the role of mobile operators and the regulators. Below is an edited transcript of the interview.
We held an interview recently with CABS Managing Director Kevin Terry in which talked at length about the company’s development of its mobile money product Textacash.
We just got a tip that the Central African Building Society (CABS) website www.cabs.co.zw has been hacked. Visiting the website right now loads the screen we have captured here:
Pingit, Barclays’ smartphone mobile banking app, has been extended to Africa, with the first implementation launched in Kenya. An announcement posted on the institution’s global website says the application will be launched in additional Africa markets, including Zimbabwe, in the next couple of months. It is an app much like the CABS textacash service in terms of […]
Whenever we have a conversation with entrepreneurs and techies the number one question is “How can I get funding?”. We’ve touched on this issue before but due to the frequency of the questions we felt it useful to provide an update about what options are available in the market right now. There is no easy […]
We met ZimSwitch business development manager Adam Roscoe this week to discuss the newly unveiled ZimSwitch Mobile platform. Roscoe disclosed in the interview that a total of 12 financial institutions are either live, performing tests, or starting implementation of ZimSwitch Mobile. The platform enables all financial institutions connected to ZimSwitch (currently 19 Institutions) to offer […]
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.
Following our story earlier today on the coming launch of ZimSwitch Mobile later this month, a reader sent us a picture they took of a mobile banking advert by CABS in their Sam Levy’s Village branch in Borrowdale, Harare.
Telecel Zimbabwe has just revealed to Techzim that it’s working with Zimswitch Mobile to include more banks on its mobile banking platform.
Telecel launched the Skwama mobile banking services in January this year but only provided the service to subscribers banking with Zimbabwe’s Kingdom Bank.