Zimbabwe’s largest mobile money platform by market share Ecocash has launched a new product, Swipe into Ecocash which connects one’s bank account to his or her Ecocash.
With this product one can cash in funds from any ZimSwitch connected bank at any Ecocash Agent with a Steward Bank Point of Sale Machine into their Ecocash account.
This move comes as great news to Barclays and Standard chartered amongst others who were yet to be connected to the mobile money platform, directly from their bank.
This service circumvents the hassles of having to transfer funds into an Ecocash account. Speaking at the launch of the product, Ecocash General manager Natalie Jabangwe said,
“This morning as we launch swipe into Ecocash, we enable everybody with a bank who does not have perhaps their banking services linked to Ecocash or those linked to Ecocash but their banking services are not active or customers with banks that have not yet registered.
“Or actually you might be a Barclays customer the banks that are laggards that have not connected to Ecocash that we hoped it.With swipe your ecocash, with any card in Zimbabwe we say you are welcome to transfer your funds into your ecocash account.”
It is just until last year that several banks integrated their banking services to the Ecocash platform.
This service is available at over 5000 outlets in Zimbabwe. Ecocash according to latest Potraz report commands a humongous market share of 98 percent.