Yanaya is arguably one of the hottest Zimbabwean startups of the year. Imagine my surprise therefore when I was about to start this article and realised we had not yet covered them here at Techzim! I don’t know how such a thing happened but the aim of this article is to correct it. We are […]
Yesterday there was a bit of a relief when Ecocash sent out an SMS announcing that transaction limits had been lifted from the paltry $5 000 ZWL per transaction up to a more acceptable $20 000. This was long overdue, the arbitrary limits were making life difficult for the bulk of transacting public out there […]
Zimbabwean government says it’s suspending its chaotic COVID-19 allowance facility after a good harvest
In April of last year, when COVID-19 hit the country and tough lockdowns were introduced, Finance Minister Mthuli Ncube announced that the government had a budgeted $600 million dollars that were meant for the vulnerable members of society as well as small informal business owners who had been exposed by the lockdown. There was a […]
Ministry of Information and Communications Technology, Jenfan Muswere said that state-owned Telecommunications company NetOne should take a commercial approach to doing business and clear its debt in 3 months. “Full commercialisation should be implemented, and we need to adopt the ‘no pay, no service’ modus operandi. All the outstanding debt should be cleared in three […]
In April last year, the government announced that it would be distributing COVID-19 funds exclusively through NetOne’s mobile money service OneMoney. At the time we speculated that this was meant to boost OneMoney’s position in the mobile money space. As I am sure you are all aware EcoCash has an insurmountable lead over the rest […]
Flutterwave and PayPal are running a promotion aimed at encouraging African merchants to market their goods and services internationally. Under this promotion, Flutterwave merchants/users will be able to receive US$500 worth of receipts through PayPal for free. Normally, merchants are charged 4.4%+US$0.30 per transaction. Flutterwave has collaborated with PayPal to waive off charges on the […]
When it comes to accepting local payments automatically in your app or your eCommerce store, Paynow has been the go-to for most developers for years. They were a godsend to most people given how hard it is to access the official OneMoney, Telecash and Ecocash APIs back then. Shockingly, it is still very hard to […]
One side effect of Statutory Instrument 127 of 2021 is that I have observed an uptick in the use of the RTGS dollar. This is driven in part by increased usage of mobile money, swipe and ZIPIT. Thanks to the new law people would rather buy using RTGS as most popular shops no longer offer […]
OneMoney and Telecash are cheaper when it comes to charges.
Finally, a reason to deposit cash into OneMoney
10% is better than 0% but halving it as the MMO nears a major milestone is strange.
Telecash now commands only 0.1% of the mobile money market.
Mobile money in 2020 EcoCash’s never-ending battle with the RBZ, OneMoney nearing the million mark and the continuing decline of Telecash.
OneMoney will be carrying out a system upgrade this Saturday. The upgrade coincides with EcoCash’s scheduled maintenance.
OneMoney and Telecash haven’t yet shown that they are making moves to attract new customers since ZimSwitch became the national switch.
On the 24th of October NetOne was kicked out of their Borrowdale office due to rent arrears of nearly ZW$800 000. The telco was served with a notice of attachment as well which saw the seizure of all removable property from the offices. NetOne reportedly owes Mutual Finance $684 281 rising to ZW$775 182 because […]
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 […]
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. […]
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 […]
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 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 […]
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 […]
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 […]
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 […]
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$5000/daily transaction limit. NetOne subscribers received the message below this morning; Dear Customer. Following a RBZ directive, OneMoney transactions are […]
EcoCash Payroll and NetOne’s OnePay solution pretty much solve the same problem – allowing businesses to pay their employees salaries. The RBZs recent pronouncements in the Monetary Policy statement indicate that payroll services face existential threat. In the Monetary Policy Statement, RBZ says the following; Mobile payment operators have been turning a blind eye and […]
On the 9th of July, the Reserve Bank of Zimbabwe issued a directive that made ZimSwitch the national payments switch. This meant that EcoCash was going to be relegated to being just another wallet. ZimSwitch as the national switch for Mobile Money means that one can essentially send money from EcoCash to OneMoney or Telecash […]
One Money has reviewed service fees. The new prices are as follows: Transaction Tariffs Lower Value ZWL$ Upper Value ZWL$ Bill Payment Merchant Payment 1.00 1.99 0.17 0.03 2.00 5.00 0.35 0.18 5.01 10.00 0.55 0.24 10.01 20.00 0.85 0.71 20.01 30.00 1.35 1.16 30.01 40.00 1.67 1.63 40.01 50.00 2.55 2.19 50.01 60.00 3.29 […]
The Reserve Bank this afternoon issued a statement that made Zimswitch the national payment switch. This means that EcoCash will be relegated to just being wallet and will have to use Zimswitch as the universal transaction hub. Now, as more information about this comes out, and we see how EcoCash responds to this. Let’s have […]