EcoCash extends services
Zimbabwe’s EcoCash has been given new features to extend its usability.
EcoNet reports that its EcoCash service is already enjoying rapid uptake, driven by its convenience and a short supply of bank notes in the country.
The company has now activated a feature which enables it to create a seamless link into all the banks, allowing customers with bank accounts to move money into an electronic wallet, from anywhere in the country.
The new service also allows businesses to accept payment in EcoCash instead of cash. Once they receive such payment, it is automatically credited to a bank account as real cash.
Econet also owns a company called TPS, which operates most of the country's credit card terminals that already accept Visa, iMasterCard and American Express cards.
The company is now installing software which allows retailers to accept EcoCash through these same terminals.
Douglas Mboweni, Econet Wireless Zimbabwe CEO, says EcoCash has completely changed the way Zimbabwe does business. He predicts it will have a greater impact than even M-PESA has in Kenya.