Update: Updated the number of companies Paynet works with from 150 to 1,500 after receiving the correct information from the company.
We just got information that Econet and Paynet, a local payments & payments software company, have partnered to offer a new EcoCash service that will enable companies to pay salaries directly into their employees’ EcoCash wallets. The service will likely be announced in the coming days.
Paynet, which is part of the Payserv group, already offers electronic payroll processing services and counts as clients some 150 1,500 companies locally. The new EcoCash wallet payment option will be available to this huge base of existing clients and will likely attract more companies to consider Paynet for their salary payments processing. Ideally, not all sizes of salaries are for this method; we imagine it’s for middle to low income salaries.
The new convenience for employees that will have their salaries channelled to their EcoCash wallets is that they won’t have to set time aside to go to a bank to retrieve, say, money for rentals and other monthly expenses. Those that currently receive their salaries as cash in an envelope will also not run the risk being robbed on pay day.
The development will probably see some people start to keep money in their EocCash mobile money wallets they way they would in a bank account. If your salary came to your EcoCash Wallet, why would you need to move it from there unless you wanted to spend it immediately. Why would you need to even transfer it to a regular bank account? Maybe to pay off a small bank loan?
Share
Home
10 comments
interest?
WHoooah there…Econet now wants to play with peoples salaries!?…Have you been reading the “horror” stories of people not having DSTV for days as Econet is failing dismally at running things smoothly. Now I can only imagine how high emotions will get when Paynet says yes we’ve paid you your salary yet your Ecocash wallet is empty and all the call centre agent from Ecocash tells you to do is take out your simcard for 3 hours!
Come on dude you just being negative here. Dstv for a number of people is working well I do understand like any other technology there will be such cases. Since it is new I rather give them time. One thing we forget is maybe the problems are because of the multichoice system not EcoCash. Has it ever occurred to you that maybe customers are also making mistakes during the transactions. But since we just have a negative perception about EcoCash we dash to blame the innovative team at EcoCash. On Saturday many people were happy because banks were closed and since after the carnival in Harare they wanted to watch champions league final and big brother on Sunday and they had money in their bank accounts, the only way to pay dstv was through EcoCash, first you do a bank to wallet then pay dstv. Dude that’s what i call convenience! You never mention how cheaper EcoCash is when it comes to the other options you have been using to pay guy our dstv subscription. Convenience plus affordable dude what more do you want. Com on be real man. I do believe when salaries are paid via EcoCash it will be convenient for the small businesses which can save costs and working hours since workers don’t have to take time off to go to banks. Sometimes we need to give credit where it is due and not celebrate the few people who complain leaving the many who are enjoying the service.
I hope Econet gives you an increase for that one lol, but seriously, such a cool idea.
Employee of the month you are! Thanks Econet for reminding us you have secret operatives on TZ discussions. 🙂
Let us be objective in the discussions sometimes we just want to speak bad about Econet/EcoCash. We need to take pride in what Econet is doing for our country. So who is paying your guys then or who are you working (which secret operative) for because your comments are always anti Econet. Lets be objective and contribute strategically to the development of our home grown solution!
ictfan, I already said this was a good idea, and now I am forced to criticize you: the author of the article has done an excellent job of promoting a good idea – and comments are just comments – free-form, anything goes. So if your reply reads as a criticism of customers (“customers are also making mistakes”) and of the partners (“problems are because of the multichoice system not EcoCash”) then please, prepare to receive a little criticism – man up!
You said “banks were closed” – are you sure of your facts? If you check, you will find that Allied was opened.. right next door to DSTV. So far you have attacked everyone that is ‘not’ Econet – and seriously you seem to just be promoting Econet without thinking. How about some comments on the article its self?
Econet are not the only answer to financial transactions in Zimbabwe – personally I would prefer if they stuck to improving their network service – but hey, that’s just me.
Amen brother Cold! Also zimictfan, most of us here, well at least me, critisize Econet harshly here as lets face it, their customer service is pathetic, their internets expensive and their dropped calls are insane. So unfortunately I can’t think like you
zimictfan where 1 seemingly good thing from Econet covers up all the evil the company has done…and is still doing. Respect for a company is earned not demanded. Look at Powertel, I used to speak so badly about them but in recent times their internet has really improved and these days its generally praises from me for the company as they do seem like a company striving to make a difference to its consumers and not to its execs already fat wallets like Econet.
Econet Services is growing exponentially in Ecocash! High Five…
WTG Econet!