Business / Companies
Telecash to offer an affordable and easy to use facility
30 Jan 2014 at 02:23hrs | Views
TELECASH, Telecel mobile financial services, is expected to offer customers an affordable and easy to use mobile banking facility that could change the face of banking in Zimbabwe.
Econet's EcoCash platform is under pressure amid indications that banks are planning not to transact with its banking unit, Steward Bank, on the RTGS platform.
Speaking at the launch of Telecash yesterday, Telecel mobile financial services director Mr Nkosinathi Ncube, who pioneered the EcoCash platform, said the involvement of banks would enable them to offer customers an affordable and easy-to-use mobile banking facility that could change the face of banking in Zimbabwe.
Mr Ncube said both the Reserve Bank of Zimbabwe and the Posts and Telecommunications Regulatory Authority (Potraz) had called for the interoperability of mobile financial services with banks.
Telecash is the first mobile financial service to achieve this.
"Telecash is the first to connect with Zimswitch and thus with all banks on the platform," Mr Ncube said.
Telecel Zimbabwe chief commercial officer Mr Ashraf El Guindy said theirs was a strong product.
He said the company had partnered with some of the best players in the industry to come up with Telecash.
"We have associated ourselves with the best in the industry," he said, adding that their technical partner in the arrangement was Obopay.
Its banking partners include Afrasia, CBZ and ZimSwitch, which provides links with most of the country's banking institutions.
Econet's EcoCash platform is under pressure amid indications that banks are planning not to transact with its banking unit, Steward Bank, on the RTGS platform.
Speaking at the launch of Telecash yesterday, Telecel mobile financial services director Mr Nkosinathi Ncube, who pioneered the EcoCash platform, said the involvement of banks would enable them to offer customers an affordable and easy-to-use mobile banking facility that could change the face of banking in Zimbabwe.
Mr Ncube said both the Reserve Bank of Zimbabwe and the Posts and Telecommunications Regulatory Authority (Potraz) had called for the interoperability of mobile financial services with banks.
Telecash is the first mobile financial service to achieve this.
Telecel Zimbabwe chief commercial officer Mr Ashraf El Guindy said theirs was a strong product.
He said the company had partnered with some of the best players in the industry to come up with Telecash.
"We have associated ourselves with the best in the industry," he said, adding that their technical partner in the arrangement was Obopay.
Its banking partners include Afrasia, CBZ and ZimSwitch, which provides links with most of the country's banking institutions.
Source - Byo24News
