Wednesday, May 23Always On-point

Mobile Money

Ecobank Invites African Fintech Startups To Apply For Their Funding Competition

Ecobank Invites African Fintech Startups To Apply For Their Funding Competition

FinTech, Mobile Money, Start Ups
Pan African bank, Ecobank has just called startups with Fintech solutions to apply for the Ecobank Fintech Challenge 2018. The competition is in its second year and last year over 850 contestants applied so competition will definitely be stiff. Ecobank Fintech Challenge gives African startups a chance to promote their fintech solutions partner or an opportunity to partner Ecobank. If given a chance to partner with Ecobank, startups can help with solutions to be implemented in one of Ecobank’s 32 markets (Zim included). The CEO of Ecobank Transnational Incorporated stated that the company is dedicated to supporting innovations in banking and finance across the internet: We, at Ecobank, believe that the current winds of change led by technology and innovation will redefine how banks
Are Telecash And OneMoney Users Better Off Using Their Platforms Than Joining Ecocash?

Are Telecash And OneMoney Users Better Off Using Their Platforms Than Joining Ecocash?

Mobile Money
As you are undoubtedly aware Ecocash has opened up its platform that enables Netone and Telecel users to register for the Ecocash services in a move that aims to enhance the fluidity of the mobile banking sector. These moves by Ecocash may have risen as a response to an ultimatum issued by The Minister of ICT and Cyber Security, Supa Mandiwanzira early this year.The scheme does not really hit the target with regard to the ultimatum as it falls short of integrating the USSD platforms to facilitate wallet to wallet funds transfers. This is essentially Ecocash advancing their goals. Customers from Netone and Telece may be wondering how much this platform charges them compared to what they were being charged at their respective MNO’s mobile money platforms. Ecocash is charging the s
StanChart Customers Might Need To Start Looking The OneMoney Direction Over EcoCash

StanChart Customers Might Need To Start Looking The OneMoney Direction Over EcoCash

FinTech, Mobile Money
Recently, I got a tip from a Standard Chartered Bank user who pointed out that Swipe Into EcoCash was not working for them and actually hadn’t been for a while. Interestingly, this comes at a time when Standard Chartered Bank now has a direct link to OneMoney. Let’s backtrack a bit… So there’s always been this ‘tension’ between some local banks and EcoCash. Remember how customers for a long time requested that banks integrate with EcoCash (or its the other way round) but still nothing seemed to move. What makes it interesting is that it was always the other party’s fault. If you asked EcoCash, they’d give you the vibe that banks felt threatened by their existence and if you asked the banks, they’d tell you that EcoCash had some unreasonable expectations. Nonetheless, depending on
U-Gain: Get 9% Interest Investing In Zim’s First Retail Bond Available Through Mobile Money

U-Gain: Get 9% Interest Investing In Zim’s First Retail Bond Available Through Mobile Money

Mobile Money
If you were looking for a fantastic investment opportunity which is easy to understand and yet offers attractive return then look no further. You can invest right from your mobile money account too. Untu Capital recently announced a retail note you can invest in which guarantees 9% interest per year. Do not be intimidated by the term ‘retail note.’ What simply happens is that you loan Untu Capital money and they will pay you back what you lent them and give you interest on top of that, So the retail note is called U-Gain and as mentioned above it offers 9% per 12 months. The interest offered is fixed which means it won’t be changed during the loan period. That means you can accurately predict your total interest receipts over the loan period and easily too. Untu Capital had this t
NetOne’s OneMoney goes down….

NetOne’s OneMoney goes down….

Mobile Money
In case you missed it: OneMoney (previously known as OneWallet) is currently down and this is the message that has been sent out. We regret to advise that OneMoney platform is currently down and our engineers are working to resolve issue. The inconveniences caused are sincerely regretted!   OneMoney is a mobile money platform by NetOne, one of the three Mobile Network Operators (MNO) that have been licensed to operate in Zimbabwe. OneMoney by the end of the second quarter of 2017 had grown to have 13137 active subscribers (which means subscribers that have performed at least one transaction on the platform in the last 90 at the time of recording) and as such all these subscribers could potentially be affected by this down time. So far, we have no news as
NetOne is recruiting OneMoney agents, a good deal?

NetOne is recruiting OneMoney agents, a good deal?

Jobs, Mobile Money
It seems NetOne is really determined to grow OneMoney this time. Maybe the ‘scolding’ from the former Minister of ICT, Hon Supa Mandiwanzira served as some good inspiration. I realised that they are putting ads in the newspaper that are calling out for people who are interested in becoming OneMoney agents. The latest POTRAZ telecom report (Q2, 2017) revealed that OneMoney agent numbers had declined from 245 in the first Quarter to 187 in Q2, guess that ‘trend’ is about to change. In the ad, NetOne is promising these benefits to those who will successfully be licensed to become agents: 1.5% commission on all ZESA Sales $0.50 per each customer registeration $0.30 on every debit card sale $0.10 for each new line registration It is quite interes
TerraPay and Wari Enter a Strategic Partnership for Cross-Border Money Transfers

TerraPay and Wari Enter a Strategic Partnership for Cross-Border Money Transfers

Mobile Money
TerraPay, the world’s first mobile payments switch, and Wari, a global platform offering digital financial services have signed a strategic partnership agreement that will strengthen the remittances ecosystem in 35 key African markets. The partnership is aimed at interconnecting the global money transfer operators with mobile wallets and bank accounts in Africa. With this partnership Wari’s customers across Africa can send money to TerraPay’s network of mobile wallets in Africa and all bank accounts in India in real time. Also, TerraPay’s global partners with a presence in 160 countries would be able to send remittances instantly to Wari’s digital payments network including mobile wallets and bank accounts across 35 African markets. “We’re excited to be working with Wari- one of the
EcoCash has processed over $23 billion since launch and that’s not the only impressive figure

EcoCash has processed over $23 billion since launch and that’s not the only impressive figure

Mobile Money
Econet Wireless Zimbabwe shared the impressive feat in its recently published annual report. EcoCash has truly taken the country by storm since its launch in 2011. You might recall that they were not the first mobile money solution in Zimbabwe but like Apple did with the iPhone, they did it better than the forerunners. Today, EcoCash commands a hefty 99.8% of the mobile money market share. It’s as good as a one horse race at this point. That 99.8% as presented in their annual report suggests that they have grown their market share since Q2. In the POTRAZ Q2 report, their market share was pegged at 97.98%. advertisement They managed to grab such a market share because frankly, their service is superior to that of the competition. They launched Ecocash Diaspora in collaboration w
Facebook’s Whatsapp Is Getting Into Digital Payments

Facebook’s Whatsapp Is Getting Into Digital Payments

Applications, FinTech, Mobile Money
a business (also known as an enterprise, a company or a firm) is an organizational entity involved in the provision of goods and services to consumers.Businesses serve as a form of economic activity, and are prevalent in capitalist economies, where most of them are privately owned and provide goods and services allocated through a market to consumers and customers in exchange for other goods, services, money, or other forms of exchange that hold intrinsic economic value. Businesses may also be social non-profit enterprises or state-owned public enterprises operated by governments with specific social and economic objectives. A business owned by multiple private individuals may form as an incorporated company or jointly organise as a partnership. Countries have different laws tha...
Ever wondered, what made EcoCash so popular???

Ever wondered, what made EcoCash so popular???

Mobile Money
So one of the reasons I will talk about today is: Accessibility. So we all know that EcoCash was not the first mobile money platform to exist in Zimbabwe right? To be honest, I’m one of those people who for a while thought it was. In fact, the existence of the platform is what actually familiarised most Zimbabweans to the whole concept of mobile money – still is I think. Anyway, before EcoCash, there was Skhwama (meaning pocket) then OneWallet. Of late, Techzim has been talking a lot about the latter (rebranded to OneMoney) since it recently finally launched its own debit card. Both Skhwama and OneWallet were great innovations but they failed on execution. I say that because despite Skhwama’s one year or so head start, according to POTRAZ, it still registers the least growth in terms o
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