More insurance companies sign on with telecash

Three more insurance companies -  Old Mutual,  Zimnat and Nyaradzo - have signed agreements with Telecel Zimbabwe for the payment of insurance premiums using telecash, Telecel's mobile electronic wallet service.

Telecash subscribers were already able to make payments to Eagle Insurance and First Mutual Life.

TelOne and the City of Bulawyao also recently signed agreements with Telecel for the payment of telephone bills and municipal bills with telecash.

The list of service providers happy to accept payment with telecash now includes Cimas, DSTV, City of Harare, City of Bulawayo, Tel One, Eagle Insurance, First Mutual Life, which in addition to insurance also has a medical savings fund, and now Old Mutual, Zimnat and Nyaradzo.

Bill payment with telecash is simple. No biller code is required. All that has to be done is to access the telecash menu by dialling *888#, select the ‘pay bill' option and then select the service provider whose bill is to be paid.

As with all telecash transactions, the subscriber will be required at some point in the transaction to enter his or her telecash personal identification number (PIN) to confirm that the person paying the bill is the holder of the telecash account linked to the mobile phone that is being used.

After selecting the service provider whose bill is to be paid, the subscriber is asked to enter his or her account number with the service provider, that is with Old Mutual, Nyaradzo or whichever company it is whose bill is to be paid, and the amount to be paid.

The subscriber will receive a transaction ID confirming payment that can be quoted, like a receipt number, in the event of any query.

Telecash is an electronic wallet, into which money can be deposited and withdrawn at any telecash agent and from which payments can be made for bills and goods and services. Money can also be transferred from a telecash account to the mobile phone of anyone else, regardless of network.

It can also be transferred to a bank account held with a bank that is connected to the ZimSwitch Zipit platform. Salaries can be paid into a telecash account using the telecash bulk payments facility.

There are more than 3 000 telecash agents, including all Bon Marche, OK Bazaars and TM supermarkets and all post offices.  

It is possible for Telecel subscribers to register for telecash at any Telecel shop or telecash agent or with one of the telecash ambassadors who can be identified by their telecash regalia on the streets of cities and major towns.