Telecash subscribers to receive money instantly and directly from diaspora

Telecel Zimbabwe has announced that it has been granted authority by RBZ to receive incoming international remittances directly into subscribers' Telecash wallets and will be working with Mukuru to immediately avail the service to its customers. Plans are also at an advanced stage to include Western Union as a partner.

"Zimbabwe has a huge diaspora community which looks after family and friends locally and this new international remittance licence will have a huge impact on the convenience our Telecash subscribers experience while receiving money from outside our borders," said Telecel's Head of Mobile Financial Services, Arthur Matsaudza.

"The licence to receive incoming international remittances has been granted to us following Telecel's compliance with the strict regulations and requirements that are in place to ensure the security of depositors' funds and to prevent financial crimes like money laundering," Mr Matsaudza said.

Already, Telecel and Mukuru have integrated their systems so that diaspora funds can be accessed instantly when they are deposited by the sender. The integration of Telecash and Mukuru systems means that people sending money from across the border can initiate payment from outside Zimbabwe by simply providing a Telecel subscriber's telecash registered mobile number and the money will be deposited instantly and directly into the receiver's mobile wallet.

"We urge people to register their Telecel numbers on the Telecash platform to be able to enjoy this instant service," Arthur Matsaudza said.

Telecel CEO, Mrs Angeline Vere, has confirmed that the mobile operator as part of its long term strategy is looking into using partnerships to increase the convenience of its customers.

"Our vision as Telecel is to leverage on strategic partnerships that help us improve our mobile financial services and products so that our customers can experience innovation and convenience at world class levels. Already we are currently in talks with various international remittance partners with key corridors in SA, Botswana, UK, Australia and the US amongst other potential countries. We are very confident these partnerships will change the overall mobile financial service experience our customers will have on our Telecash platform," said Mrs Vere.

Mukuru is currently available in South Africa and the UK. Telecel is working on increasing the availability of money transfer services from countries like US, Australia, Canada and Botswana through partnerships with money transfer agents.

"The Telecash community is growing rapidly and we are proud to announce that we have now reached 1 million users. This growth means that our subscribers appreciate the convenience and the affordability that Telecash brings to them. The growth we have experienced, in recent months, is also a result of our continued effort to add new services to the Telecash menu for the added convenience of our customers," Mr Matsaudza added.