Mobile money platform Ecocash now allows subscribers to reverse transactions in the event that they send money to the wrong recipient. This development comes at a much needed time as customers had to wait in the long queues at Econet shops for assistance.
Every Ecocash user can confirm it has been a daunting task which at times customers would prefer just to let go of the wrong transactions instead of waiting in the long queues pretty much the whole day to get a reversal, which at times would not be instantaneous.
To reverse a transaction, users have to dial *150# on their mobile phone, select option 3 for self-help or transaction reversal, then select option 1 for a reverse of the transaction.
As a security measure, the reversal of the transaction is not only one-sided. Both parties will have to agree to a reversal before it is done. This secures users from fraudsters that may want to take advantage of reversing a transaction after they have collected goods or a service has been offered to them.
However, not everyone that you send money to will corporate in giving back your money. Unfortunately, you will have to go to an Econet shop to get the money reversed.