eBusiness Weekly
Business Writer
Econet Wireless Zimbabwe says transaction errors on its mobile payment platform EcoCash cannot be completely deterred due to inevitable system failures, but errors such as double debits from a single transaction can be rectified in 24 hours. The telecoms services provider said that in the event of failed transactions involving its Swipe into Ecocash service, EcoCash Customer Services’ help desk and not a bank was respwonsible for rectifying the error.
“Procedure for follow up is to directly call the EcoCash Call Centre (on 114) which then liaises with Steward Bank, the settlement banking partner for validation of payment reversals,” said Econet.
Econet said that the maximum validation time for failed transactions was 24 hours. Since the advent of EcoCash, large numbers of consumers across the country have adopted the platform for routine transacting. Retailers in many sectors have had to adjust their own sales entry systems to incorporate the use of the mobile transacting platform.
EcoCash has, however, increasingly become susceptible to challenges to its main competitive edge, which is convenience. Consumers have had issues with delayed confirmation of transactions, double debits from single transactions, or bounced transactions altogether.
Econet has gone into the market to clarify the procedures. “Errors in mobile transactions are to be expected can never be 100 percent deterred. However, Econet has invested heavily to mitigate transaction errors,” said the group.
Mobile operators like Econet said there were challenges of server congestion, network connections, and downtime due to maintenance work on infrastructure that drives mobile platforms.
EcoCash is the largest mobile money service in Zimbabwe. Recent industry figures show that 19 in every 20 mobile money customers in Zimbabwe use EcoCash. Its transaction volumes in 2017 accounted for close to 80 percent of all electronic settlements in Zimbabwe.
