Business / Companies
EcoCash, MTN launch money transfer service
19 May 2016 at 01:35hrs | Views
Zimbabwe's largest mobile money service, EcoCash, and MTN mobile money in Zambia have launched a money transfer service that allows Zimbabweans living in Zambia to send money home using MTN money wallet.
Under the partnership, a Zimbabwean living in Zambia can send money by registering with MTN Zambia and then initiating a money transfer request through their USSD mobile money short code, then select EcoCash ZW mobile number.
"It is as easy as that and the money will reflect in the selected EcoCash ZW mobile wallet.
A message of confirmation will be sent to the recipient and the sender," said Econet Wireless in a statement yesterday.
MTN is Africa's largest mobile phone company by customer numbers, has launched similar services with mobile money companies in East Africa while Econet Wireless is Zimbabwe's largest mobile phone company and has the largest mobile money service business in the country and one of the largest in the region through EcoCash.
"EcoCash has led the way in replicating wallet to wallet cross border remittances for Southern Africa. Remittances play a major role in Zimbabwe's economy.
"Our role as EcoCash is to ensure that these remittances are channeled through the formal market, for the security of our customers, and also for the benefit of the economy," said Econet Wireless.
"Zimbabweans living in Zambia will now be able to send money to EcoCash customers at home, thanks to a new partnership launched between EcoCash and MTN Mobile Money, a leading global money transfer company," said MTN Mobile Money.
EcoCash general manager Natalie Jabangwe said: "Our role as EcoCash is to ensure that these remittances are channelled from as far wide as possible, through the formal market, cost effectively, conveniently, securely and also for the benefit of the economy," said Mrs Jabangwe.
Econet Wireless chief executive Douglas Mboweni was excited with the partnership and cited that this was just the first phase.
"We are very excited about this partnership with MTN Mobile Money.
This is just the first phase. Shortly, Zimbabweans from more countries with MTN footprint will be able to send money directly into the receiver's EcoCash wallet," he said.
Econet Wireless through EcoCash recently launched a partnership for Europe remittances, known as Chitoro.
Chitoro offers money transfer methods that allow for both business to business (B2B) transfers and worldwide person to person (P2P) payments.
The fees for remittances or transfers will range from 1,99 British Pounds.
Recipients can choose to use the funds at any EcoCash point of sale service facility or to cash out the money at any EcoCash agent.
They can also be paid out in cash at any Steward Bank or CABS branch.
Under the partnership, a Zimbabwean living in Zambia can send money by registering with MTN Zambia and then initiating a money transfer request through their USSD mobile money short code, then select EcoCash ZW mobile number.
"It is as easy as that and the money will reflect in the selected EcoCash ZW mobile wallet.
A message of confirmation will be sent to the recipient and the sender," said Econet Wireless in a statement yesterday.
MTN is Africa's largest mobile phone company by customer numbers, has launched similar services with mobile money companies in East Africa while Econet Wireless is Zimbabwe's largest mobile phone company and has the largest mobile money service business in the country and one of the largest in the region through EcoCash.
"EcoCash has led the way in replicating wallet to wallet cross border remittances for Southern Africa. Remittances play a major role in Zimbabwe's economy.
"Our role as EcoCash is to ensure that these remittances are channeled through the formal market, for the security of our customers, and also for the benefit of the economy," said Econet Wireless.
"Zimbabweans living in Zambia will now be able to send money to EcoCash customers at home, thanks to a new partnership launched between EcoCash and MTN Mobile Money, a leading global money transfer company," said MTN Mobile Money.
Econet Wireless chief executive Douglas Mboweni was excited with the partnership and cited that this was just the first phase.
"We are very excited about this partnership with MTN Mobile Money.
This is just the first phase. Shortly, Zimbabweans from more countries with MTN footprint will be able to send money directly into the receiver's EcoCash wallet," he said.
Econet Wireless through EcoCash recently launched a partnership for Europe remittances, known as Chitoro.
Chitoro offers money transfer methods that allow for both business to business (B2B) transfers and worldwide person to person (P2P) payments.
The fees for remittances or transfers will range from 1,99 British Pounds.
Recipients can choose to use the funds at any EcoCash point of sale service facility or to cash out the money at any EcoCash agent.
They can also be paid out in cash at any Steward Bank or CABS branch.
Source - chronicle
