POSB set to launch mobile banking
By Alfonce Mbizwo, Harare, Zimbabwe
Zimbabwe’s Post Office Savings Bank (POSB) says it will launch a mobile banking platform next month as it seeks to increase its product range.
Chief executive Admore Kandlela said that the bank’s platform will operate on all three networks, Econet, NetOne and Telecel and would offer much cheaper rates than the market.
The bank is a leading agent of Econet Wireless’s popular Ecocash, a mobile money transfer service, and Kandlela said that the bank would continue to offer the service despite being direct competitors.
Another mobile service provider, Telecel also runs its own mobile banking platform under the Textacash banner.