Telecash Improves Banking Services

"Telecel is working energetically in its establishment of many telecash agents that enable subscribers to deposit and withdraw their money in their electronic wallets," said Telecel Mobile Money Services director Mr Nkosinathi Ncube.

Long back, Banking services were totally backward as people send and receive money through bus drivers, letters or in person after a long period of struggle.

 Recently, it is of no surprise that Telecel launched the second advent of mobile money among other Mobile Network Operators called Telecash.

Telecash is more bearable to unregistered clients who failed to utilize the presence of eco-cash as telecash bear no limits in sending and receiving money to all networks.

According to Mr Mapangira a telecash agent, eco-cash is competing for a market share since competition is the best tool for success as each of them will strive to offer quality services to the clients.

"Telecel had a great coverage of 85% nationwide whilst Econet holds 35%, therefore the probability of telecash overtaking eco-cash is very high as it assumes to register 60% of its clients annually," Ncube said.

The emergence of telecash is a great improvement in banking services since the system is convenient to every individual even in remote areas.

"The fact that some banks are facing liquidity challenges doesn't imply that the entire sector is sick, "defended Finance Minister Chinamasa.

Now telecash walks the talk fulfilling minister's prediction and clients are driven to make choice depending on their interests.

 Besides that, the introduction of telecash in the business sector brings in the platform of employment creation and flexibility.

For economic analysts, telecash provides an attractive source of growth to Telecel and proves to offer better services through its low, affordable tariffs to every registered member of telecash even to others who are holders of Zimswitch cards and enable clients to perform their transactions to some banks like Commercial Bank Of Zimbabwe which has confirmed to be associated with telecash program.

Nevertheless, telecash needs to clarify its commission structure and reveal some other banks which it is partnering with like the Steward Bank of eco-cash.

In an interview with a client who uses mobile lines of telecel and econet, said that the two proves to be similar because of its brand name, though eco-cash has emerged two years ago and is more effective in marketing strategy since it is the first to establish mobile network operators.

Therefore it's high time for telecel to add more promotions and programs that entice its clients for it to qualify the market share competitions which it chooses to be involved.

The possibility of getting loans by the small business entrepreneurs is very high as the banking sector is improving with age like wine.

Depending on merchants which telecash manage to sign up with, most of its registered clients will be able to pay bills, purchase airtime and perform various transactions hence forth life becoming easier as the nation is getting connected through the use of wires.

( I am Sheilla Kuona a student for a Diploma in Journalism and Communication in Harare)