Telecel Zimbabwe will be giving a 10 percent incentive to international remittance recipients who are signed up to its mobile money platform Telecash. The scheme which is currently the largest incentive on the market is intended for registered Telecash users who are receiving money from the diaspora.
This incentive comes hot on the heels of the RBZ driven 3 percent incentive for world remittances which is called the Diaspora Remittances Incentives Scheme (DRIS) was launched last month.
By TechnoMag Reporter
Registered Telecash customers will receive an extra 10 percent with the money they receive from the diaspora via world remittance agents like Hello Paisa, Mukuru and Mama Money.
Telecel’s Head Mobile Financial Services Violet Masunda said this incentive is meant to promote increase the number of Telecash subscribers.
“Telecash has decided to offer a 10 percent incentive to all registered users who receive international remittances from the diaspora community to encourage the use of formal channels as well as to grow the base of registered Telecash customers,” she said.
“Unregistered recipients will continue to receive the 3 percent incentive which is already being offered by the Reserve Bank of Zimbabwe.
“Telecel’s incentive is the first of its kind on the market from a private local entity other than government.”
RBZ’s DRIS expected to discourage Zimbabweans from using informal channels for international remittances to ensure that the foreign currency flows into the formal sector.
Telecel was given the nod by RBZ to receive incoming international remittances directly into subscribers’ Telecash wallets through money transfer agents like Hello Paisa, Mukuru and Mama Money.