#Opinion and Analyses: How OneWallet Lost The Game To Ecocash

The  battle between NetOne and Econet dates back to the period the two companies were formed as the two mobile service providers are always at each other’s throats in an attempt to outshine each-other in terms of service provision and product quality.

The two companies are always seeking to outdo each other at every opportunity they get and the battle has spilled into the mobile money transfer business. In recent years’ NetOne sought to overshadow Econet through their mobile money platform One Wallet.  This has not been the case judging by the number of subscribers Econet Wireless has over rival NetOne.

By TechnoMag Reporter

According to statistics released Econet has at least 9 million subscribers followed by NetOne which experienced a tremendous jump in subscribers from 2 million to about 4 million subscribers.

Ecocash has become the major player in the mobile money industry mainly because of their ability to capture clients  from all networks including NetOne and Telecel and those who are still debating as to which mobile money network they should work with.

It is critical to note that Ecocash has been able to expand its base by growing its number of Ecocash agents in almost each and every part of the country.

The registration of Ecocash has been made easy due its seamless registration process where one registers at the very moment you  purchase an Econet line unlike the cumbersome procedure at NetOne’s One Wallet where one needs to exchange their old SIM for a new one which is a rather long boring process.

The fact that NetOne has been unable to add an exciting flare to their mobile money registration process which would attract more clients has been a huge barrier to the growth of one wallet.

Meanwhile, Ecocash has taken its business to the community and is dealing directly with the client, whereas NetOne simply  waits for the customer to approach them. However, it is now possible to register for One Wallet over mobile phones provided they have new sim cards.

Here is a hint : Take a walk for at least 300 to 800 meters in town or in your community and one thing you notice is that you would have passed at least two to three Ecocash outlets.

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This inability to take its service to the clients has not only crippled One wallet, but has  forced even the loyal NetOne clients to turn to Ecocash as an alternative for mobile money transfer.

These are simply some of the attributes that have changed the playing field for both Ecocash and one wallet.

It is imperative for NetOne to up its game in the mobile money transfer business if it is to realize meaningful business and revenue from the mobile money venture. However, catching up with Ecocash is not gonna be a walk in park, numbers do not lie in this line of business. 9 million subscribers against 4 million is a huge gap that requires a rigorous and new ideas in-order for the One Wallet platform to gain some respect and relevance.

 

 

 

 

 

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