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Tag: Mobile Money & eCommerce

The future of Ecocash and e-money in Zimbabwe

Sometime in the midst of September 1958 the Bank of America began its Visa card program by mailing 60,000 unsolicited credit cards over all the country. This resulted in the first most successful implementation of a public general credit card and to this day Visa has the largest market share in the credit card industry

OK Zimbabwe and FNB launch SA diaspora mobile remittance service

A press release today announced the launch of a mobile based remittance service by First National Bank (FNB) and OK Zim for people in South Africa to send money to Zimbabwe

Econet to launch Point of Sale EcoCash debit product (updated)

Remember when Econet promised they’d be launching a product that would excite the whole EcoCash ecosystem? It’s probably happening tonight.

Agribank CEO, Sam Malaba, encourages banks to integrate with EcoCash

Agribank has become the latest Zimbabwean bank to integrate with the EcoCash mobile money transfer system. The announcement was made today at a press conference jointly held by the bank and Econet Wireless today in Harare. The integration is basically the same as that which Econet has secured with 3 banks so far i.e. to allow EcoCash customers to transfer money between their Agribank account and their EcoCash wallet, and the ability to do that even when they are out of the country.

Econet on EcoCash open access: “Hey banks, here’s the deal…”

Yesterday, Econet made an announcement via a release to assure the market that issues (these, issues) have been resolved with “virtually all banks” and that if everything works according to plan, all banks that want to be connected to EcoCash, would be integrated by end of March 2013. According to the release Econet is apparently responding to fears by some financial institutions that they’ll lose customer to EcoCash integrated banks.

EcoCash & Stanbic integrate. CEO Mboweni comments on ZimSwitch integration

We’re just from a press conference where Econet Wireless and Stanbic Bank announced the integration of Econet’s mobile money transfer platform, EcoCash, with Stanbic’s banking system allowing EcoCash subscribers to transfer money from and to their Stanbic accounts. Selected branches of Stanbic will also act as EcoCash Super Agents allowing EcoCash agents and customers to do EcoCash transactions.

Press Release: EcoCash open to every bank in Zimbabwe

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.

Reserve Bank of Zimbabwe to establish mobile money regulation

The Governor of the Reserve Bank of Zimbabwe (RBZ), Gideon Gono, announced yesterday the introduction of a deliberate legal and regulatory framework for Mobile Financial Services. The announcement was made as part of the Monetary Policy Statement presentation.

Econet mobile money subscribers to buy stocks on the ZSE using EcoCash

Econet Wireless Zimbabwe has just announced that shortly it will be possible for “small” investors to use its EcoCash mobile money service to buy stocks on the Zimbabwe Stock Exchange. The service, according to the announcement is targeted at investors buying stock of less than $5,000.

Local developer builds an EcoCash agent locator app

Despite EcoCash being quite expensive to use (especially for the larger amounts) there’s always that time when it’s really the only option. Time of day, your location and the situation’s urgency all conspire to get you to EcoCash someone.

CABS’s mobile money (& cards) doing 250,000 transactions a month

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.

Mobile Money: Zim banks moan about unfair competition from mobile operators

A report today by financial news and analysis service FinX says the Bankers Association of Zimbabwe have proposed that mobile money services be included in new banking reforms for the country. This, the bankers say, would create a level playing field in an sector facing significant disruption from mobile phone operators.

Press Release: EcoCash now in OK Zimbabwe Limited stores

Zimbabwe’s largest supermarket chain, OK Zimbabwe Limited, has become the first major retailer to be connected to EcoCash, Econet Wireless’ mobile money service. OK has assumed an EcoCash “Super-Agent” status, and will be performing agent services for EcoCash throughout its branches across the country. Under this partnership, every OK outlet will now register customers for EcoCash and also perform cashing in and cashing out functions for EcoCash.

biNu adds EcoCash to its credits payment options

In a story title “More problems for regular SMS: biNu credits now available locally” that we posted here a few weeks ago, we expressed our delight that biNu credits were now available locally. The Australian based company (which now has representatives locally) had just announced that its 200,000 Zimbabwean users could now buy its platform’s currency at Easi and YoTime

Some noteworthy discussion points from the ePayments Forum

As party of the ongoing discussion following the ePayments Forum that was held exactly two weeks ago, we’ve decided to post here the main issues that came out of the event. You can read more about the event itself on the sub site dedicated for the event here:

Econet subsidizes kombi fares for EcoCash users

In an apparent move to attract subscribers to use its EcoCash mobile payment service, Econet announced this week that for a week they’ll subsidize the kombi* fare by US 25 cents for people paying via EcoCash. For some users of EcoCash this means as much as half of the fare will be paid by Econet just for using their platform.

University student develops EcoCash internet payments proof of concept

One of the things that came out of the EcoCash tour that we were part of recently was that internet payments are not near the top of their priority list in terms of the roll out of payments. Understandably so actually; there are bigger, immediate and bankable needs to address away from the web. Needless […]

EcoCash: a summary of developments on merchants

Earlier today we attended a tour of the EcoCash mobile money service by Econet. Basically Econet invited a group of journos and bloggers to sample the service themselves, apparently, so that when they write, they write with full knowledge and experience of the service on the ground. It makes sense really and we’ve been waiting for the […]

Telecel reveals they killed off the Skwama mobile money service

Remember Skwama? It’s the mobile money transfer service which Telecel Zimbabwe started introducing back at the end of 2010. It was launched in January 2011 but before long, its ads and general branding disappeared almost completely. We just learnt the gradual disappearance was deliberate as a decision had been made to let Skwama “die a natural […]

ZimSwitch services update: Internet payments, Mobile Money, mCommerce & more

We have received a much needed update from ZimSwitch on stuff they have been working on these past several months. The last time we covered ZimSwitch in some depth is when they announced the signing on of 12 financial institutions to their ZimSwitch Shared Services (ZSS). They also announced then that the company was working […]

Econet Press Release: Update on EcoCash upgrade

When you are in Europe or America, it is possible to move around without any cash in your pocket as long as you have a credit card or a debit card. Governments in developed countries have long urged their citizens to transact electronically. This is known as a ‘cashless society’. It is fast, cheap, and […]

Econet’s move to Comviva to give Zimbabwe e-commerce jetpacks

This guest article was authored by Prosper Chikomo, an internet entrepreneur and author of Turning Iron into Gold: Golden Opportunities: How to Spot Them, Create Them, Make Money from Them, and How Not to Miss Them (Available on  As great as Pattern Matched Technologies’ (PMT) platform is, the move to Comviva’s platform will certainly help push […]

Econet migrates EcoCash technology system to Comviva platform

We have been informed today that Econet is migrating the core technology powering its mobile money system, EcoCash, from a platform developed by South African based company, Pattern Matched Technologies, to award winning Indian based VAS company, Comviva. Last week, Econet announced that its mobile money system would be down over the weekend as the company […]

TN Holdings to launch an online shop

We’ve received reliable information over the past couple of days that TN Holdings, one of the fastest growing of companies locally, is preparing to introduce an e-commerce platform to enable Zimbabweans to purchase its products over the internet. TN Holdings has interests in financial services, health, furniture and more recently, supermarkets and fast food outlets.

EcoCash adds 200,000 more subscribers in a month (Growth stats since launch)

Less than a month ago, Econet announced that it had connected a million subscribers on its mobile money platform, Ecocash. Yesterday, a Twitter update by the CEO of Pattern Matched, Markus Schorn, revealed that Econet has since signed on an additional 200,000 subscribers to the mobile money service since the March

MTN Uganda loses billions to mobile money fraud involving employees

Ugandan news sources reported this week that African mobile giant, MTN, reportedly lost billions of shillings from its mobile money service in a fraud case involving the operator’s employees. Though information about the fraud and the investigations around it is only surfacing this week, the fraud itself is reported have occurred in 2011.

Econet announces it has reached more than 1 million connected EcoCash users

Econet Wireless, Zimbabwe’s largest telecoms firm, announced today that it has surpassed the 1 million mark in ‘connected’ users for its EcoCash mobile money service. The milestone, the company says in the announcement (a thank you to its subscribers), “has been achieved in record time and is the fastest growth of such a service in the world”

My journey to Wedza. An experience with technology in rural Zimbabwe

I had a chance to see the “hot” mobile phones in Wedza in all their shapes and sizes. The Chinese made models topped the list perhaps because of their key features – dual sim support, high audio output, multimedia support (ability to play a range of audio file formats, record audio/video clips and snap JPEG photos with reasonable resolution).

Our information technology predictions for 2012

Another exciting year in information technologies lies ahead with a lot of promise for the continued growth of the sector. Below, we provide our thoughts on what we think 2012 holds. It would be great to know what you the reader think in the comments.

Mobile & web commerce in 2012, unlocking the value of connectivity

At the beginning of 2011 we predicted that Zimbabwe would see internet and mobile commerce services launched in Zimbabwe. As the year came to close, it was certain we were right on target with the prediction: Econet launched EcoCash they extending the use to more than just remittances and airtime; Zimswitch confirmed to us in an interview they were working on an internet payment gateway which they were going to launch before 2011 ended. But something happened on the way to heaven