eBusiness Weekly
Enacy Mapakame
HARARE – Econet’s mobile money service Ecocash will further review downwards its tariffs as it enhances the ease of transaction on the backdrop of increase in use of mobile money.
Speaking at the launch of its latest offering, Ecocash business wallet, Ecocash chief executive officer Natalie Jabangwe said the firm was cognizant of the needs of the market and would continue coming up with new innovations to improve services.
She said as the country was running with the theme “Zimbabwe is Open for Business,” the firm was also working at coming up with tools that enhance business operations and transactions.
“We have been reviewing our transaction fees, and we are looking forward to further reviewing them downward this year,” she said.
In light of this, Ecocash’s business wallet will have fair tariffs. The business wallet will cater for both formal and informal businesses, becoming the first in Africa to have an enterprise transaction service that is integrated into a mobile money platform.
The new service will offer Ecocash merchants, agents, payroll wallet holders and billers full control of their funds by affording them the ability to make and receive payments directly on their business wallet.
Unlike the normal wallet, business wallet will allow business people to transact from a minimum of $1 and maximum of $500 000 a month.
“This is a dedicated wallet for business transactions, both the formal and informal, offering you safe and secure services. This also has increased limits of upto $500 000 a month depending on the size of the business,” said Jabangwe.
She added the business wallet would be a dedicated wallet for all business type transactions, accessible on the separate short code *152# in Zimbabwe, and would be covered by insurance to manage business risk.
The new Ecocash product comes at a time the country is experiencing cash shortages and Government pushing for plastic money as Zimbabwe moves towards a cashless economy.
