• Here’s how much it costs to send money from EcoCash to OneMoney & vice versa

    We have crossed the threshold of interoperability as per the directive that made ZimSwitch the national switch. This means that we can all send money from EcoCash to other mobile money wallets as well as bank accounts. There has been a lot of chatter about the charges that are associated with transferring money from EcoCash…

  • EcoCash announces new rewards program – Is this meant to soften the Zimswitch blow?

    EcoCash is now integrated with the national switch (Zimswitch) as was mandated by the Reserve Bank earlier this year. A day after the integration with what used to be the mobile money service provider’s rival was announced, EcoCash has announced a rewards program that incentivises people to transact via the mobile money platform. EcoCash Rewards…

  • EcoCash joins ZimSwitch, you can now send money from EcoCash to OneMoney and other accounts directly

    Last month the RBZ’s Monetary Policy Statement revealed that the date for ZimSwitch becoming the National Switch was the 30th of September. That date was an extension for the previous date set which was the 15th of August. The initial date that was set was a little ambitious because the integration that the RBZ required…

  • EcoCash urges subscribers with multiple accounts to move funds by 25 September

    Earlier this month, EcoCash announced that the deadline for moving funds for multiple account holders to one account was going to be 6 September. It seems a significant number of people missed the initial deadline and so they’ve extended it to the 25th. EcoCash users with multiple accounts will have to move them to a…

  • President ED – State had to act against EcoCash because $8.4 billion was circulating outside the banking system

    President Mnangagwa recently addressed a ZANU-PF Committee in Gweru and in that address he spoke on the long-running feud between EcoCash and the state. The President had some interesting things to say about the mobile money operator which has been accused by the financial regulator and state officials of being behind runaway inflation. We realised…

  • Win US$1K by composing a song for EcoCash

    EcoCash is hosting a social media singing competition that will see the winner walk away with US$1000. The song will probably be used for marketing purposes as the entries that will be considered should be themed around living life the EcoCash way. So what do you do, if you want to participate? Follow these steps;…

  • EcoCash blood in the water, who will take advantage?

    The payments space is in for some very big changes. Some of these changes we may be able to see. Others we can speculate on and there are others that are beyond the horizon. EcoCash, which seemed almost like a utility, is about to be equalised. The levelling of the playing field hasn’t come because…

  • EcoCash sets deadline for multiple accounts for the 6th of September 2020

    In adherence to the Monetary Policy Statement put out by the Reserve Bank of Zimbabwe. Individuals are no longer allowed to have multiple EcoCash accounts. In a message sent out to customers Ecocash said the following: Public Announcement If you have 2 or more EcoCash lines dial *150# option 5 to select your primary wallet…

  • You can now buy ZESA tokens on credit using EcoCash

    EcoCash recently made it possible to buy ZESA tokens on credit. By simpling dialling *179# you can access the new service. You can get ZESA tokens on credit valued at ZW$50 using the service and you’ll back at 26% interest. This means you’ll pay back ZW$63 bucks for your ZW$50 token. The interest seems a…

  • Video: Zipit Smart brings EcoCash features to your bank account

    Zimswitch is about to give ZIPIT an upgrade and new features include merchant services as well as cardless transactions. In this video we get some 1st impressions of how it all works.

  • ZIPIT upgrade in the works: This puts serious pressure on EcoCash

    Zimswitch is working on an upgrade that will make using it similar to the mobile money wallets we use on a daily. ZIPIT Smart as it will be called is launching in the next few days and after getting early access, we think they are on to something big. What problem will ZIPIT Smart solve?…

  • Beware! Scammers promising to upgrade daily EcoCash account limits

    The RBZ recently placed stricter regulations on mobile money service providers. You may have heard that you can no longer transact over ZW$5000 daily. Interestingly, we came across a WhatsApp message that we believe is a scam. It claims that you can actually upgrade your EcoCash account and once you have done so you’ll be…

  • OneMoney follows EcoCash and effects ZW$5000 daily transaction limit

    Many people were wondering if OneMoney and Telecash would all be subjected to the same regulations that were recently put into effect by EcoCash. Well, OneMoney is the second mobile money operator to effect the ZW$5000/daily transaction limit. NetOne subscribers received the message below this morning; Dear Customer. Following a RBZ directive, OneMoney transactions are…

  • Video: EcoCash sets daily limit at Z$5000. Who is hit hardest?

    RBZ issued a monetary statement directing mobile money wallets to suspend agent accounts and set a daily limit of Z$5000. In this video we look at what this means for the average Zimbabwean as well as who is most affected.

  • EcoCash Payroll and OnePay under threat as RBZ directive suggests banning of salary processing

    EcoCash Payroll and NetOne’s OnePay solution pretty much solve the same problem – allowing businesses to pay their employees salaries. The RBZs recent pronouncements in the Monetary Policy statement indicate that payroll services face existential threat. In the Monetary Policy Statement, RBZ says the following; Mobile payment operators have been turning a blind eye and…

  • What can you buy with the ZWL$5000 EcoCash limit?

    In abiding by the Reserve Bank of Zimbabwe’s directives, EcoCash has instituted a ZWL$5000.00 a day limit on transactions. The outline of how this will affect daily transactions is as follows: “Transactions by all individuals shall be pegged at a maximum of ZWS5,000 (five thousand Zimbabwe dollars) per day with immediate effect. This threshold relates…

  • 2 Ecocash accounts? The less active one will be closed

    Last week, we reported that the RBZ had announced with immediate effect that each individual would be allowed to only have one mobile money account. This means individuals with multiple EcoCash accounts will be affected. The question that immediately came up was simple. “If I have two accounts which one will be closed?” Well, the…

  • EcoCash limits transactions to $5000 per day

    In accordance with the Reserve Bank of Zimbabwe’s Monetary Policy Statement on Friday EcoCash put out the following press release: EcoCashNotice to All EcoCash CustomersDear Valued CustomersPlease be advised that we have received a directive from the Reserve Bank of Zimbabwe to the following effect; 1. Transactions by all individuals shall be pegged at a…

  • EcoCash & others given until 30 September to connect to ZimSwitch

    The assumed deadline for the ZimSwitch’s role as the national switch was the 15th of August 2020. That deadline has passed and that led many to wonder when this measure will come into effect. Earlier this week sources at EcoCash revealed that they hadn’t met the deadline that was set by the Reserve Bank of…

  • No, you can’t send money from EcoCash to OneMoney yet

    On the 9th of July, the Reserve Bank of Zimbabwe issued a directive that made ZimSwitch the national payments switch. This meant that EcoCash was going to be relegated to being just another wallet. ZimSwitch as the national switch for Mobile Money means that one can essentially send money from EcoCash to OneMoney or Telecash…

  • EcoCash has increased tariffs

    EcoCash charges have been reviewed upwards. This follows a change made in March this year. The assumption is that the company has finally been given the green to increase the charges, as this is regulated by the Reserve of Zimbabwe. Here are some quick example of what you should expect to pay in fees for…

  • EcoCash “currency manipulation” probe delays Cassava Smartech financial report

    Cassava Smartech announced that they have delayed the release of their audited financial statements for fiscal year-end February 2020. They made this announcement to shareholders citing that the delay is being caused by the “regulatory review” of one of the company’s key holdings EcoCash. The previously mentioned regulatory review is a currency manipulation investigation being…

  • “ZANU PF commends gvt for allowing ‘EcoCash’ to be overseen by RBZ through Zimswitch”

    The title of this article is a paraphrase of part of the statement issued by ZANU PF today commenting on the economy. Here is the actual excerpt: ZANU PF also wishes to commend government for the decision that it has taken to allow mobile money operators to be overseen by the Reserve Bank of Zimbabwe…

  • Video: EcoCash to be integrated to Zimswitch. What does it mean?

    RBZ announced that Zimswitch is now Zimbabwe’s national payment switch and that all monetary service providers are directed to integrate with it. What does this mean to me the customer?

  • With a national switch on the way, EcoCash needs to focus on innovation now more than ever

    A few days ago, my colleague Tinashe wrote an article about EcoCash and the Econet group’s need to innovate build compelling products. Today the RBZ announced that ZimSwitch is going to assume the role of the national switch and EcoCash will be required to be interoperable with this switch. Given all this, I thought it…

  • EcoCash to become just a wallet, RBZ says everyone must connect to ZIMSWITCH

    So this happened: DESIGNATION OF ZIMSWITCH TECHNOLOGIES (PRIVATE) LIMITED (ZIMSWITCH) AS A NATIONAL PAYMENT SWITCHIn accordance with the provisions of the National Payment Systems Act [Chapter 24:23] and the Banking (Money Transmission, Mobile Banking and Mobile Money Interoperability) Regulations, Statutory Instrument 80 of 2020 (the Regulations), the Reserve Bank of Zimbabwe (the Bank) wishes to…

  • EcoCash & banks can’t magically create balances

    A friend brought up a question recently, can’t a software developer at EcoCash just create a balance in their account. Then, said developer can go buy a shiny new Lamborghini Gallardo LP460? (I may be adding a bit of sweetening but you get the point). A soccer analogy Let us talk about soccer for a…

  • Econet say Ecocash airtime and bundles recharge still being worked on

    Yesterday Econet Wireless went dark nationwide. They seem to have restored services for calls and data. However, they are still working through issues with Ecocash airtime and bundles purchases through their USSD platforms. NOTICE TO CUSTOMERS Dear Valued CustomerWe regret to advise that you may face recharging challenges on *151# (Ecocash) or *143#. As we…

  • EcoCash is under threat – gvt to blame BUT underlying problem is EcoCash/Cassava/Econet

    Yesterday a colleague mentioned that they were denied using EcoCash at a service station. All other forms of payment were acceptable except EcoCash. This didn’t surprise me. First let’s make sure those who have been living under a rock are caught up: On Friday the 26th of June 2020, the Government of Zimbabwe declared that…

  • What does the RBZ directive mean for EcoCash and other mobile money platforms?

    Yesterday the Reserve Bank followed up a statement made by Nick Mangwana on Friday night. The original statement looked to totally ban mobile money platforms. The government was planning to take a: “Series of prudent and coordinated interventions to deal with malpractices, criminality and economic sabotage perpetrated by the “wolves in sheep skins amongst our…