Tag: Econet Cash
Eco-Cash is likely to change a lot of things for a lot of people. Whether you are mobile operator, a payment services provider, a traditional bank or a more modern bank just starting to offer mobile money services to the millions of unbanked Zimbabweans, Econet will in some way disrupt your business. Econet has almost half of the country’s population on its mobile network. That about says it all.
But it’s not just disruption. It’s opportunity as well. Without over-generalising, there’s a myriad of issues with payments right now and Econet has enormous potential to introduce some needed convenience. If they do it right of-course.
Econet Wireless will at end of the month launch a mobile payment system that makes it possible for Zimbabweans to pay for anything using their cellphones.
The company has spent millions of dollars on developing the system, which will be launched to its over 5-million customers, completely eliminating the need for any notes for purchases below $20.
Techzim has just found out that Western Union has been offering a domestic money transfer service since the 16th of May 2011. It appears as if not enough PR work was done in this regard as even an online search did not yield any information. The money transfer service enables locals to send and receive money within Zimbabwe without the need of a bank account. A receiver is able to access money within minutes of sending and is subject to agent locations. Western Union’s local agents are Microking (a subsidiary of Kingdom Bank), Easy Link, POSB, and FFS.