The Shoprite cross-border money remittance product reached the R1 billion mark in January, after just three years of it being implemented between SA and Lesotho. The cost of a transfer of R900 is 2%, which is one of the cheapest cross-border products in the world. A remittance is when a person sends money, usually small
Ecocash, the mobile payments giant and subsidiary of Cassava FinTech, has announced its partnership with cashbackAPP, the international loyalty and advertising business. This deal is set to disrupt the market in Zimbabwe and significantly enhance the value proposition to Ecocash merchants and customers in the form of Ecocash Rewards, a highly innovative programme which will
Mastercard President and CEO, Ajay Banga, this week visited Zimbabwe to show Mastercard’s strong support for the country’s drive to create a new wave of digital payments and inclusive growth. He outlined how Mastercard will collaborate with local private and public sector partners to drive greater financial inclusion through the implementation of innovative payment technologies.
EcoCash and Mastercard have announced the launch of EcoCash Scan & Pay, a simple, secure and instant mobile payments solution for consumers and merchants, as part of their efforts to reduce cash usage and increase digital financial inclusion in Zimbabwe. The Scan & Pay payments functionality is available to EcoCash’s five million active subscribers, and
Zimbabwe’s leading mobile money service EcoCash unveiled a dedicated wallet for business payments. The business wallet, which represents the first time in Africa that an enterprise transactions service has been integrated onto a mobile money platform, will offer EcoCash merchants, agents, payroll wallet holders and billers full control of their funds by affording them the
Early this year, Orange Money Botswana and EcoCash launched a new partnership to enable better and more affordable access to digital money transfers between Zimbabwe and Botswana. Powered by TransferTo’s global mobile payments network, this service now allows Zimbabwean diaspora, living in Botswana, to use their Orange Money digital wallet to send money back home
Leading Software development company, Finteq have announced a giant leap forward for Zimbabwe’s payment system. The company’s most recent deal is with Zimswitch Zimbabwe in order to facilitate the delivery of a modern domestic interbank payment system. Scheduled to be delivered in a series of phases, this system will support batch processing of debit and
TerraPay, the world’s first mobile payments switch, announced today that it has successfully obtained regulatory approval from South African Reserve Bank to launch Cross-border money transfer services in South Africa. This makes TerraPay the 5th company to be licensed as a category three Authorised Dealer in Foreign Exchange with limited authority, also known as ADLA
Direct Pay Online Group (DPO) is the first payment service provider (PSP) in Africa to receive the Payment Card Industry Data Security Standard (PCI DSS) Level 1 certification in 12 African countries. This comes after the successful completion of comprehensive audits in the Group’s global headquarters and all its other markets which include Kenya, Tanzania,
mHITs (pronounced Em-HITS), the leading Australian FinTech mobile remittance pioneer, has announced a new and very affordable way to transfer money from Australia to Zimbabwe using mobile money. The Australian mHITs Remit mobile remittance service now provides instant, convenient and low cost money transfer from Australia to Zimbabwe with a $5 fee for any transaction amount. “For the
