Are you one of those who’s been inconvenienced because your bank hasn’t integrated with EcoCash (or it’s EcoCash that hasn’t integrated with your bank)? Well, no more worries.
EcoCash, today unveiled a new product to address that.
So instead of integrating with banks, EcoCash has decided to integrate with Zimswitch… smart huh? (Well, not really with Zimswitch but the innovation does leverage heavily on the Zimswitch platform). So now, hopefully by end of day today, you will be able to swipe your money from your bank account into your EcoCash account… literally.
To be enabled to use this facility, all you need is any Zimswitch enabled bank card and a Steward bank POS machine and of course an agent or a till operator. Then the agent/till operator swipes your card, enter a code and then confirm on your phone and voila money in your Ecocash!
By the way, there’s about 5 000 more Steward bank POS machines being churned into the system and as we speak a couple of agents (not sure how many really) who were at the event received some POS machines to start using. Considering Steward bank already has the most POS machines on the market, 5 000 more is a good story as far as convenience is concerned.
We’ll be taking a deeper look into this new technology in future (very near) articles
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29 comments
Would this work with cards issued for Corporates?
Best website in Zim, love your articles guys, how ever can u take us through the step by step process?
Thank you Techzim team,keep the good work up.You are up to date with current events in tech matters.Conitnue to keep us posted.Thank you once again.
Strive ari kuita mari nesu heyi. Starting to think he’s causing the cash crisis so everyone can use his services kkkkkk. i’m serious though..
Hapana chakaipa mukoma, haasikuba sembavha idzo dzizere mumigwagwa dzichiita corruption mudenga mudenga kusvika kwa CG and HE.
i know a few that have had difficulties in the past because their bank is not linked with ecocash, im sure this will come in handy for them.
Admittedly, this is quite a clever and practical idea. They just need to beef up security protocols, you can end up swiping money for a purchase into a rogue till operators Ecocash wallet.
@Techzim, how about mentioning that all Ecocash needed to do was enable Zipit receive to their wallets, just like NetOne and Telecash have done for years… This is a half arsed effort at best, of an article and of a new ‘product’.
mekenyenye baba
You can only access this service on a POS machine, that is the inconvenience now. TeleCash is already connected to all banks through ZIPIT, which means you can do it any time and anywhere. I have been using that for long now.
Thank you for the article.This is great innovation and Kudos to Econet#Ecocash for a job well done
I have great respect for this site but at times, the articles are ill researched and one sided. While we can applaud Ecocash for this initiative, a balanced paper should be questioning the ingenuity of the initiative against what is already on the market. One Money and Telecash are already on ZIPIT platform. One can move money to any of the 19 banks 24 x 7 and in the comfort of their own home. In this case, one has to get a debit card first, run around to find a Steward Bank POS, wait in the queue for your turn in a merchant shop and then get your turn to transact. The convenience is limited just as it is by the conventional brick and mortar bank…not to mention the security of doing such transactions in open view. TechZim, learn to research and write an article with an open minded and balanced view. We all know Ecocash is the giant in this space hence they do not need further massaging.
Sometimes i think we just have preconceptions about any article at all. Firstly, i would classify this under Breaking News meaning that all the details are not yet available.
Secondly lets look at the merits and demerits. Ecocash is not worried about connecting to Zipit which moves money across banks and MNOs at a maximum cost of $1. this is way lower in terms of earnings than the 1% or so that Ecocash gets from a Bank to Wallet transaction.
Third, the war between Ecocash and banks has always been about the skewed money movement which is really a Pull from bank to Ecocash and not so efficient vice versa. What Ecoent has basically done is to circumvent having to ask for banks to PUSH their money out. They have basically found a way to PULL money out of the banks Easily via the account owners. From this angle its sort of Genius becasue really how many Ecocash clients with bank accounts know how to do a Bank-to-Wallet especially with the always timing out USSD.
I could say a lot more
U are not fair, ecocash is a massive platform and as such this article is a big deal. Hopefully, you are not an interested party ku telecash ne one money.
Spot on
I personally do not see the convenience when you need to look for a POS machine to do the transaction. With the likes of Telecash and their ZIPIT facility you can easily transact anytime, anywhere conveniently
Techzim you are good. Your posts are useful
Ecocash is still dodging the need to integrate with ZIPIT.not much to celebrate there.
Techzim thanks for the info, but Telecash is linked to every bank on ZIPIT why look for a POS device when you can zip any time anywhere to any bank account on ZIPIT using Telecash.The option has been around since 2014,pity platforms like yours choose not to make as much noise as you do with anything Econet related.
The product was launched long back by Telecash, all they need to do is to improve on thier marketing and awareness, otherwise they brought convenience years ago. I am a regular user of the ZIPIT platform on Telecash. With it no need to visit agent or till operator.
Welcome move but Ecocash should just integrate with Zimswitch. The Mastercard failed and using it locally is too expensive.
Hats off to EcoCash they are innovaters.However I was making a comparison with your previous article on Telecash that showed that they are integrated to all banks on ZIPIT. To me that’s innovation. With their solution you can transfer money from one bank to the next in the comfort of your home now that real convenience.I just challenge the likes of Telecash one money to make more noise about their offerings. Techzim I urge you to do balanced reporting. Research first.
aaaaaa nhai veduwe where is the convinience in that? One money and Telecash are on the Zipit platform and there is no need to hunt for a Steward POS and or till operator. you simply move your funds from the comfort of your home/ office wherever you are. this one itai mega zvenyu i dont see anything superior or convinient about it. the convinience i am already getting on telecash is perfect. in addition i can move funds to any other mobile number and not only my own.
No innovation there until I can do it in the comfort of my sofa.
Well, for us Ecobank customers this is great news.
Then the relevance of Telecash, OneWallet, ZIPIT in this discussion is kind of not relevant. Why?
1. Scale of Telecash and OneWallet is still too small almost bordering irrelevance. Hopefully they grow soon and give Econet some real competition.
2. Integration with ZIPIT – Well as an experienced developer I know the issue that stops/hinders/delays integration is called EGO not the competence of the software engineers. So Zimswitch and Ecocash will have to work together when EGO is crushed.
My opinion!
Until EGO is crushed, kkkkk. That looks set to happen after mankind succeeds in reaching Planet Pluto!
Waaal
Does ecoCash has the money to pay us all in case we want cash? I do not think so. They take our money and give us numbers. They spend our money and if we want to take it out they start to limit the amount and in the end we will lose all our money.
Is it possible that I swipe the balance into someone else’s ecocash account in case the person isn’t registered withecocash