Mobile money service platform, M-Pesa users will soon be able to participate in global e-commerce after it announced a collaboration with worldwide online payments system, PayPal. The service will facilitate M-Pesa users to shop with PayPal merchants and smoothly transfer funds between M-Pesa and PayPal accounts consequently increasing commerce nationally and internationally.
Qualifying M-Pesa users in Kenya can link their PayPal accounts to their M-Pesa wallets and purchase goods and services from international commerce sites, as well as top up their PayPal accounts.
The newest step taken by Africa’s pioneer of mobile wallets, M-Pesa is a testament to its commitment to offer convenience to its users in doing commerce. M-Pesa’s collaboration with PayPal only serves to encourage mobile money service platforms like Telecash, Ecocash, and OneMoney to follow suit.
Zimbabwe’s electronic transactions are growing by leaps and bounds and so does the demand for international goods and services by Zimbabweans. Local mobile money services can partner online payment systems like PayPal to make it easier for Zimbabweans to engage in global commerce.
Is it possible for Telecash, Ecocash, and OneMoney to Partner PayPal?
Local mobile money services may find it hard to secure a partnership with PayPal given that mobile money accounts are held in bond notes. The fact that bond notes are not accepted internationally makes it impossible to buy goods on e-commerce platforms like Amazon or eBay, for instance.
Not to mention the uncertainty surrounding the real value of bond notes. Whilst bond notes are formally said to have a US dollar equivalent value, in reality, they do not. In light of the uncertainty of bond note’s value, Paypal will not likely collaborate with Telecash, Ecocash, and OneMoney soon.
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10 comments
only if its one way, It will be difficult to send forex from Zim, but easier to receive the forex. Blame it on RBZ
The biggest problem we are facing right now is not bond notes guys. It’s stubbornness. All our woes will end on the day we accept one fact. Bond notes and USD are no longer equal!! It’s that simple, remove this stupid proclamation and all your problems will dissappear. Right now a lot of people are not using official remittance channels unless they have no choice. My bank accepts incoming wire transfers from Ireland but they refused to call it forex and so my card is not deemed prefunded because of this 1:1 nonsense. Float the bond or support it using forex reserves.
FBC accepts incoming wire as FOREX. I could move it to my prepaid card and buy on amazon. I get my Google Ireland wires via FBC.
Side bar: Besides, clearly all this bond note issues will end with a clean election be it Zanu PF or otherwise as victors. If ZIDERA goes you will have a brand new online landscape in Zim. Checkout amazon USA, an increasing number of items now ships direct to zim since last December.
Lets give it a few years. Let the money come back into the country first.
Bring back the zim dollar
Garikai we all agree with you on paper but the problem is those RTGS balances and treasury bills… If we bring the dollar back those balance will be eroded a second time… If you let the bind float you know it’s going to crash…I mean really how can it be worth half of the dollar then someone is removed it’s now only 20%… Purely made up figure with no economics at all
i like your economics. Its self explanatory. kkkk
I’m sorry folks – this economic stale-mate is enough testimony that the combined intelligence (education/experience/wisdom etc) of all those in government is not enough to resolve this economic problem and all other side problems linked to it.
At times like these, a government resigns (to save face unless it is faceless) and the professional people employed in coming up with solutions should lead the way in that regard.
But no, we have people that wake up everyday selling the nation bottled air as one product or the other, and they’re comfortable doing that without batting an eyelid.
I guess the military took over to avert an alternative that is too ghastly to contemplate.
Maybe the “young generation” will have the scruples to see that “alternative” through?
thats ehy chamisa must be voted for. at least he has an open mind to see through to some newer and fresh developments. These paperwork systems in zim must go now. Decentrslization of certain services must be done. Anyrhing thats a zanu pf alternative must be voted for unfortunately. Thats the only way we can taste new waters
let them simply created a prefunded option which allows us to desposit the usds into mobile money ecocash. Only when one does that can they fund through paypal. Just like they do with Prepaid visa and mastercards.
Obviously 1:1 is now a failed attempt to stubbornly protect a failed economic system. But what i like is that construction in zim is starting to rise. So it shows certain things are shifting even in investor minds.