Telecel announces 63% increase in Telecash agents & merchants since launch

We’ve just received a press release from Telecel on the developments of their now  almost two months old mobile money service Telecash. In the press release Telecel is basically saying that despite the challenges signing up agents (remember the agent war) they are actually fairing very well. In the sense they have added 1,000 more agents (and merchants) since launch. The company says it now has 2,600.

Which merchants you might ask? Well actually, that’s not really new news. Last week we wrote that Telecel had announced via the Facebook page the signup of First Mutual Life, Eagle Insurance and Cimas as merchants.

There’s also mention of earlier agreements secured to making Telecash a payment option for City of Harare bills and Multichoice DStv subscriptions.

Here’s the full press release below:

Number of telecash agents, merchants increases from 1 600 to 2 600

The number of telecash agents and merchants countrywide has increased by a thousand, from 1 600 to 2 600, since the mobile money transfer service was launched by Telecel at the end of January.

Telecash has also signed agreements with two insurance companies and a medical aid society for the payment of premiums and subscriptions through telecash.

Telecash allows subscribers to use their cellphone as an electronic wallet to transfer money, pay for airtime, buy groceries, pay bills and pay for other goods and services.

Telecel subscribers can register for telecash and deposit money into and withdraw money from their telecash account at any registered telecash agent. They can also use telecash to pay for goods and services provided by any of the 2 600 telecash agents and merchants countrywide.

OK Bazaars, Bon Marche, TM Supermarkets, and Zimpost are among the major retail outlets with branches nationwide that are telecash agents. There are a host of other retail chains and sole traders all over the country that are telecash agents or merchants.

The medical aid society that is now accepting telecash as a means of payment is Cimas. The two insurance companies are Eagle Insurance and First Mutual Life, which also operates a medical savings fund.

The telecash agreements with Cimas, Eagle Insurance and First Mutual Life follow agreements signed with the City of Harare and Multichoice for the payment of municipal bills and DSTV subscriptions with telecash.

“We launched telecash with just over 1 600 agents and merchants. It is pleasing to see that within just over a month the number of agents and merchants has increased by a further thousand,” commented Telecel mobile financial services director Nkosinathi Ncube.

“We expect the number of agents and merchants to continue to grow,” he added.