Tag: rbz

Reserve Bank investigating Econet over EcoCash auto-registrations

Last week, allegations emerged that Econet was automatically registering subscribers to its EcoCash mobile money service. The official Econet response to the allegations was a failed spin that tried to deny allegations, only stating that it was against company policy to do that. However, the official Econet Twitter account confirmed the allegations in response to […]

Econet denies auto-registering customers to EcoCash. But it doesn’t add up

So we finally got a response from Econet PR on the issue of them automatically registering Econet voice subscribers to the EcoCash mobile money service. It’s basically a, “no we don’t do that” response. Here’s the full response: Econet has and continues to experience exponential growth of its popular EcoCash service, whose customer base is […]

Telecel complains to POTRAZ over access to EcoCash agents, directed to RBZ

Picture: Telecel’s Financial Services Director: Nkosinati Ncube It appears the war for mobile money agents is escalating as we can reveal that Telecel lodged an official complaint with POTRAZ alleging that Econet is sabotaging their access to mobile money agents. Last week sources at Telecel revealed to Techzim that Telecel was “going the regulator route” […]

Payment systems in Zimbabwe: The past, present and the future (Part 1)

This analysis shall be in three parts. To thoroughly assess the payments landscape in Zimbabwe, I shall use three frameworks, or if you like, perspectives or concepts. These are; disruptive innovation, the long tail and open innovation. Disruptive Innovation There is adequate literature on disruptive innovation. For the benefit of the reader, I will briefly […]

Econet reviews EcoCash mobile money transfer tariffs

Econet has announced through adverts in the press the ‘reduction’ of tariffs of its mobile money transfer service, EcoCash. The move follows a directive from the Reserve Bank of Zimbabwe (RBZ) and general pressure from the market to review the charges. The Reserve Bank of Zimbabwe Governor, in his 31 January Monetary Policy Statement, issued a directive to mobile operators to review their charges by end of March 2013.

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.

CABS starts accepting internet merchants as Vpayments goes live

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).

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:

Vpayments may not be for everyone

When mobile payments were introduced in Zimbabwe, I thought here is the chance for me to sell my book to Zimbabweans who do not have Visa cards, MasterCards etc. I made my first call to Big Bank in November of 2011 and asked them about accepting payments via their mobile money transfer solution. I was told it was Ok.

EcoCash Mobile Money: Interview with Econet Services CEO

Last week, after a tour of EcoCash Business (well, EcoCash Commuter mostly), we got the opportunity to interview the Econet Services CEO, Darlington Mandivenga and Econet Wireless Mobile Money Executive, Francis Matseketsa. Econet Services, as we wrote last week, is now managing such strategic services as EcoCash for the entire Econet Wireless group. In the […]

The Broken Reserve Bank Website

Today I was going through an article we’ll post shortly on ICT security in Zimbabwe. In the article, reference was made by the writer to the fact that there are no major information security compliance or legislation requirements to govern the implementation of ICT security in Zimbabwe. That the only major requirement around is for banks to comply with the RBZ Bank Certification (Bank Supervision IT requirements).

As is practice here, when we make a claim in an article, we make sure that we reference the source of the information. So I pointed my browser to the Reserve Bank of Zimbabwe website, to find any information on this RBZ ‘security’ requirement. It opened the neat RBZ site we all came to know during those mad ‘burning’ days.