Tag: EcoCash
Cassava responds as to why Steward Bank customers can’t send money to EcoCash directly (& vice versa)
Cassava has responded to our inquiry concerning Steward Bank Customers being unable to send money directly to EcoCash and vice versa.
No EcoCash option in the Steward Bank ZIPIT menu, Strange…
You can send money from Steward Bank to OneMoney or Telecash but you can’t send to EcoCash?
EcoCash rewards extended to remittances
Judging by social media posts as well as responses to the few articles Techzim has written about the EcoCash Rewards campaign, the promotion seems to be quite popular. The mobile money operator is now extending the loyalty programme to remittances into Zimbabwe. EcoCash is giving ‘a point’ for every USD2.00 that is received into the […]
Have the banks taken full advantage of the restrictions put on EcoCash?
From the national switch directive to transaction limits, have banks taken full advantage of the restrictions that have been imposed on EcoCash.
EcoCash system maintenance to disrupt bank to wallet services
EcoCash has announced a planned system maintenance that will disrupt wallet to bank services.
OneMoney & Telecash would do well to learn from EcoCash Rewards
OneMoney and Telecash haven’t yet shown that they are making moves to attract new customers since ZimSwitch became the national switch.
More details revealed regarding EcoCash rewards – Here’s what’s up for grabs
We wrote an article on EcoCash Rewards – a promotion by EcoCash that rewards the mobile money service’s users for transacting. Unfortunately, that piece was devoid of detail and as a follow up to some of the questions readers have asked in the comments section, I’ve decided to write a follow up. PS: For every […]
What you need to know to liquidate EcoCash Agent account
As we reported earlier EcoCash Agent funds that haven’t been liquidated are now subject to the 2% Tax. For any company or individual that hasn’t yet started the process, here are some of the things you’ll need to know and have to liquidate funds in your EcoCash Agent account. In a report by The Chronicle, […]
Banned EcoCash Agents lines will be subject to the 2% Tax
The RBZ’s monetary policy statement from a couple of months ago revealed that agent lines are banned because they no longer serve a purpose. This announcement wasn’t a surprise to many because it looked unlikely that agent lines would be restored. After the suspension of Agent lines, many who used them began the process of […]
RBZ says it will continuously review the 35K a week mobile money limit
The Reserve Bank of Zimbabwe (RBZ) released a statement that concerned the discussions and resolutions made by the Monetary Policy Committee (MPC) that took place on the 2nd of October 2020. One of the key aspects highlighted in the statement was the ZWL$35 000 a week mobile money limit that took effect last week. Mobile […]
EcoCash still under regulatory scrutiny according to POTRAZ boss
Yesterday we were greeted with the news that the ZWL$5000 EcoCash limit was being relaxed. Mobile money subscribers can now spend ZWL$35 000 a week which if they so choose, they can transact in a single day. There is however a caveat, transactions up to the weekly limit will be in batches of ZWL$5000. News […]
New ZW$35k limit for mobile money is a decent improvement – Here’s how RBZ and service providers can make it consumer-friendly
So yesterday, it was announced that the ZW$5000 daily limit for transacting has been lifted. In its place will be a ZW$35 000 weekly limit which you can exhaust in one day if you want. Whilst this is an improvement on what was in place there are still too many potential problems that could arise […]
EcoCash ZW$5,000 daily limit relaxed but new restriction added
Back in September a seriously prohibitive ZW$5000 daily limit was placed on EcoCash subscribers. The huge blow disincentivised people from using EcoCash since it meant one simply couldn’t make certain basic payments using the mobile money service. EcoCash and OneMoney have announced that the limit will be getting relaxed – from ZW$5000/day to ZW$35 000/week. […]
Cassava bemoans regulatory pressures placed on EcoCash in investor update
Cassava Smartech -EcoCash’s parent company- issued a trading update outlining the the first half of the year and what investors and the general public can expect going forward. In the update there are a number of interesting points to harp over and one of the key talking points will be the regression of EcoCash due […]
Here’s how much it costs to send money from EcoCash to OneMoney & vice versa
We have crossed the threshold of interoperability as per the directive that made ZimSwitch the national switch. This means that we can all send money from EcoCash to other mobile money wallets as well as bank accounts. There has been a lot of chatter about the charges that are associated with transferring money from EcoCash […]
ZimSwitch confirms completion of mobile money operator integration
The deadline for EcoCash and Mobile Money Operators (MMOs) to join ZimSwitch as the national switch was the 30th of September 2020. That deadline has passed and yesterday we learned that EcoCash had completed the integration. Transfers could now be done from EcoCash, for example, to other mobile wallets and bank accounts. ZimSwitch has, in […]
EcoCash announces new rewards program – Is this meant to soften the Zimswitch blow?
EcoCash is now integrated with the national switch (Zimswitch) as was mandated by the Reserve Bank earlier this year. A day after the integration with what used to be the mobile money service provider’s rival was announced, EcoCash has announced a rewards program that incentivises people to transact via the mobile money platform. EcoCash Rewards […]
EcoCash joins ZimSwitch, you can now send money from EcoCash to OneMoney and other accounts directly
Last month the RBZ’s Monetary Policy Statement revealed that the date for ZimSwitch becoming the National Switch was the 30th of September. That date was an extension for the previous date set which was the 15th of August. The initial date that was set was a little ambitious because the integration that the RBZ required […]
Mobile money subscriptions took a dip in Q2, this could be the start of a downward trend
The POTRAZ Sector Performance Report for the second quarter of 2020 revealed a dip in the number of active mobile money subscriptions. The figure recorded for Q2 2020 was 7 457 652 active subscribers across all mobile money platforms. This is a 2.8% decrease from the figure recorded in the first quarter which stood at […]
OneMoney added 337 000 subscribers in Q2 whilst other mobile money services struggled – What gives?
POTRAZ Q2 2020 report is out and whilst the mobile money industry generally took a big hit, NetOne seemed to do exceedingly well in the same period. EcoCash (the industry leader) and Telecash lost 7.6% and 34% of their subscribers respectively. In the same climate, one would assume that OneMoney would also be struggling but […]
EcoCash urges subscribers with multiple accounts to move funds by 25 September
Earlier this month, EcoCash announced that the deadline for moving funds for multiple account holders to one account was going to be 6 September. It seems a significant number of people missed the initial deadline and so they’ve extended it to the 25th. EcoCash users with multiple accounts will have to move them to a […]
President ED – State had to act against EcoCash because $8.4 billion was circulating outside the banking system
President Mnangagwa recently addressed a ZANU-PF Committee in Gweru and in that address he spoke on the long-running feud between EcoCash and the state. The President had some interesting things to say about the mobile money operator which has been accused by the financial regulator and state officials of being behind runaway inflation. We realised […]
Win US$1K by composing a song for EcoCash
EcoCash is hosting a social media singing competition that will see the winner walk away with US$1000. The song will probably be used for marketing purposes as the entries that will be considered should be themed around living life the EcoCash way. So what do you do, if you want to participate? Follow these steps; […]
EcoCash blood in the water, who will take advantage?
The payments space is in for some very big changes. Some of these changes we may be able to see. Others we can speculate on and there are others that are beyond the horizon. EcoCash, which seemed almost like a utility, is about to be equalised. The levelling of the playing field hasn’t come because […]
EcoCash sets deadline for multiple accounts for the 6th of September 2020
In adherence to the Monetary Policy Statement put out by the Reserve Bank of Zimbabwe. Individuals are no longer allowed to have multiple EcoCash accounts. In a message sent out to customers Ecocash said the following: Public Announcement If you have 2 or more EcoCash lines dial *150# option 5 to select your primary wallet […]
You can now buy ZESA tokens on credit using EcoCash
EcoCash recently made it possible to buy ZESA tokens on credit. By simpling dialling *179# you can access the new service. You can get ZESA tokens on credit valued at ZW$50 using the service and you’ll back at 26% interest. This means you’ll pay back ZW$63 bucks for your ZW$50 token. The interest seems a […]
Beware! Scammers promising to upgrade daily EcoCash account limits
The RBZ recently placed stricter regulations on mobile money service providers. You may have heard that you can no longer transact over ZW$5000 daily. Interestingly, we came across a WhatsApp message that we believe is a scam. It claims that you can actually upgrade your EcoCash account and once you have done so you’ll be […]
OneMoney follows EcoCash and effects ZW$5000 daily transaction limit
Many people were wondering if OneMoney and Telecash would all be subjected to the same regulations that were recently put into effect by EcoCash. Well, OneMoney is the second mobile money operator to effect the ZW$5000/daily transaction limit. NetOne subscribers received the message below this morning; Dear Customer. Following a RBZ directive, OneMoney transactions are […]
Video: EcoCash sets daily limit at Z$5000. Who is hit hardest?
RBZ issued a monetary statement directing mobile money wallets to suspend agent accounts and set a daily limit of Z$5000. In this video we look at what this means for the average Zimbabwean as well as who is most affected. Quick NetOne, Telecel, Africom, And Econet Airtime Recharge Number to recharge: Airtime amount: EcoCash number: […]
EcoCash Payroll and OnePay under threat as RBZ directive suggests banning of salary processing
EcoCash Payroll and NetOne’s OnePay solution pretty much solve the same problem – allowing businesses to pay their employees salaries. The RBZs recent pronouncements in the Monetary Policy statement indicate that payroll services face existential threat. In the Monetary Policy Statement, RBZ says the following; Mobile payment operators have been turning a blind eye and […]