Steward Bank in New Banking Model

Steward Bank, a subsidiary of Econet Wireless has introduced a new banking concept. The new model, known as correspondence banking, is a system where a financial institution provides services on behalf of another equal or unequal, financial institution. Through correspondence banking, the financial institution can conduct business transactions, accept deposits and gather documents on behalf

Mahindra Comviva and Econet Release Mobile Money-linked Companion Card

Mahindra Comviva, the global leader in providing mobility solutions, announced the debut of connectMoney Service Manager through a landmark deal with Econet Wireless, Zimbabwe. As a part of the first live deployment of connectMoney Service Manager, Econet Wireless has issued MasterCard debit cards which are linked to the EcoCash Wallet. This is the largest rollout

Econet Wireless Predicts that Zimbabweans Will Stop Using Paper Money

Econet Wireless has predicted that Zimbabweans will stop using “paper money” by the end of next year as people adopt cards to transact. Econet, which is at the forefront of introducing plastic money in the country, has already invested in more than 5 000 point-of-sale (POS) devices in businesses throughout the country to ensure that

EcoCash Boasts of Having Handled Transactions Worth over $4 billion

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

EcocashSave Reaches 900,000 Subscribers

Econet Wireless announced that subscribers to their Ecocash Save mobile banking service have now reached 900,000. 50,000 more than subscribers to typical brick and mortar banking services in Zimbabwe combined. The announcement was made in the same release announcing that Ecocash Save will start lending cash to subscriber in early 2014. The numbers are no