The money transfer and remittance services industry is a big deal and it’s something we understand here in Africa because of the huge monetary inflows from the diaspora. At an annual figure of $64 billion for recorded inflows (this excludes well established informal channels) this industry has attracted a lot of investor attention. On the
Econet Wireless has pronounced a firm refusal to back down on it’s demand on banks to pay a tariff of 30 cents to gain access to its transaction messaging system. This is according to a report in The Herald that quotes Econet Chief Executive Douglas Mboweni reaffirming this stance. According to the article, Mboweni insists
Econet Wireless Zimbabwe says that its mobile money transfer service, EcoCash, has handled transactions in excess of $4 billion since the service was introduce in 2011.This was highlighted by Econet’s group CEO Douglas Mboweni to parliamentarians at a familiarisation tour of the company. This impressive figure was achieved though 170 million transactions handled by the
Econet Services has officially launched a new product called EcoCashLoans, an extension of EcoCashSave at an event held at Holiday Inn in Harare this morning. EcoCashLoans, just like EcoCashSave will be administered by Steward Bank. EcoCashLoans is a service that allows EcoCashSave customers to borrow amounts from $5 to $500. Initially, the EcoCashLoans tenure will
Zimbabwean mobile money platform Telecash has seen the number of agents and merchants utilising the service rise 63 per cent, from 1,600 to 2,600, since it was introduced at the end of January. HumanIPO reported earlier this year mobile operator Telecel had launched Telecash, allowing subscribers to use their phones as a digital wallet to
Telecel launched Telecash in Zimbabwe with interoperability as their main trump card and that promise seems to be taking shape. Telecel has announced via their Facebook page that Telecash users could now pay their insurance premiums via the mobile money service. Based on the announcement and advert, the service seems to be only active with
Telecel and MultiChoice Zimbabwe have signed an agreement allowing DStv subscribers to use Telecash to pay for their subscriptions through their mobile phones. Telecash – which launched in January – can be used by its subscribers to send money to any mobile phone user regardless of network and pay bills and for goods and services
FloCash, a Pan African provider of electronic payment services, has started offering its online merchant processing service in Zimbabwe, commencing 1st February 2014. With Africa’s economy beginning to thrive and catch-up with the rest of the world in terms of innovation, connectivity and technology, FloCash is leading the way in driving Pan African commerce by
Kenyan internet payments startup PesaPal is expanding into Zimbabwe. Agosta Liko, the founder of the company told TechZim recently that their focus for the Zimbabwe entry is eCommerce, Tourism, Hotels, School fees and bill payments. Pesapal already provides similar payment services in Kenya where it’s biggest, but it also has operations in Tanzania and Uganda.
According to TechZim, Telecel Zimbabwe’s mobile money service, Telecash, will finally be launched in Harare this week. The service, which we’re told will launch without fail this time, was initially scheduled to launch in the 4th quarter of 2013 but faced serious delays. The Telecash product is a result of Telecel realising how big a
