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 […]
OneMoney and Telecash are cheaper when it comes to charges.
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 and Telecash haven’t yet shown that they are making moves to attract new customers since ZimSwitch became the national switch.
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 […]
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 […]
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 […]
A few days ago, my colleague Tinashe wrote an article about EcoCash and the Econet group’s need to innovate build compelling products. Today the RBZ announced that ZimSwitch is going to assume the role of the national switch and EcoCash will be required to be interoperable with this switch. Given all this, I thought it […]
Yesterday the Reserve Bank followed up a statement made by Nick Mangwana on Friday night. The original statement looked to totally ban mobile money platforms. The government was planning to take a: “Series of prudent and coordinated interventions to deal with malpractices, criminality and economic sabotage perpetrated by the “wolves in sheep skins amongst our […]
Yesterday the government through Nick Mangwana issued a statement declaring that mobile money was suspended with immediate effect. Naturally the public wasn’t happy and all three mobile telecommunications companies released statements to the effect that they would wait for a directive from the relevant authority. It seems like they have revised the original plan, probably […]
Telecel has completed the set. Now all three of the country’s telecommunications companies have all responded to the announcement by Nick Mangwana last night. Their statement reads: “To our valued customers Please be advised that the Telecash mobile money service is operating as normal. For all inquiries SMS or send a WhatsApp message to 0732150150.Call […]
The government last night through Information Secretary Nick Mangwana decided to suspend all forms of mobile money. Now the reasons behind that decision aside, what does it mean for all of us who rely on EcoCash or OneMoney? A lot of the people were unbanked before the advent of mobile money. Many relied on physical […]
The Government has suspended mobile money transactions. This is the statement that was released this evening: Government has, with immediate effect, undertaken a series of prudent and coordinated interventions to deal with malpractices, criminality and economic sabotage perpetrated by the “wolves in sheep skins amongst our population” that His Excellency the President alluded to during […]
USSD menus are pretty outdated when you consider the way we usually navigate on smartphones. The fact that you have to remember the codes and then the clunky interface which is prone to user error – the experience is mostly forgetable. But since USSDs offer real utility they are not going anywhere anytime soon so […]
Recently, Statutory Instrument 80 (SI80) was effected into law and among the big talking points is the fact that all mobile money operators will be mandated to connect to a national payment switch; It shall be mandatory for every money transmission provider and mobile banking provider shall be connected to a national payment switch, as […]
EcoCash has announced that they will be removing processing fees for cash transfers designated as COVID-19 relief funds. The move seems to be a direct response to the government choosing to exclusively distribute COVID-19 relief funds through OneMoney, the mobile money platform that rivals EcoCash. EcoCash has moved to remove all processing fees for cash […]
Mthuli Ncube is said to have gazetted a new financial instrument yesterday that will enable mobile money users to receive interest on the money they keep in their mobile money wallets (i.e EcoCash, OneMoney, Telecash and MyCash). At inception, mobile money users will get interest rates of about 0.02%/day; If you keep a $100 dollars […]
Earlier today we published an article regarding the alleged state of affairs at Telecel Zimbabwe. A source reached out to us and claimed that there were a number of issues affecting the telecommunications company and whilst Telecel were yet to respond to our request for comment at the time of publishing that story, they have […]
Telecel has been in a never-ending downward spiral for a number of years now. Subscribers who would expect to get new services and products and innovation from their mobile network have instead gotten board room squabbles, poor network delivery and now it’s alleged shareholders are getting dwindling revenues and no profits. An anonymous source with […]
Nobody likes the inconvenience that comes with sending someone money via mobile money if the recipient isn’t on the same network as you. That much has been established and is one of the reasons why Econet has managed to keep their subscriber base extremely high as their dominance on the mobile money front means you […]
OneMoney continues to be on an exciting growth trajectory with the mobile money platform witnessing a 32% surge in subscribers in the last quarter of 2018. This 32% increase means that the Netone-owned mobile wallet added as much as 59 000 (181,990 to 241,566) from September to December 2018. The mobile money platform upward trajectory has been revitalized […]
Let’s talk about the long-desired feature introduced by Steward bank yesterday that enables people to transfer money between wallets. That’s the magic of Sosholoza: you can move money between Telecash and OneMoney and EcoCash through Steward Bank’s WhatsApp banking service. You can also move money between these aforementioned wallets to any bank too. You are […]
Have you ever wanted to leave your bag (or whatever you will be carrying) somewhere in town for a while and return later on to collect it? If you are like me there is a startup that can help us get on with our other business whilst our bags are kept safe somewhere. The guys […]
People are now on a spending spree as the festive season reaches its climax. Whilst we are in the festive season mood many hardly pay regard to the cost of buying things or send money because we are just elated. However, some remain cheapskates whether it’s festive or not, to the extent that they don’t […]
echarges is a great way to keep up with exactly how much you’re sending from your mobile wallets. Today when you make any transaction you have to take into account how much of a hit you’re taking due to the %2 tax, the EcoCash/OneMoney tariff and if you’re planning to cash out then those charges […]
Zimbabwe’s “Cashless” Economy Trend Continuing; Mobile Money Transactions Grew By 37.9% In Second Quarter Of 2018
I’m sure we have all heard how Zimbabwe is ahead of the curve and we are already a “cashless economy”. Of course, if you are on the ground you understand that we are literally cashless but the trend is showing no signs of slowing down. Mobile money transactions grew by 37.9% from Q1 to Q2 […]