EcoCash migrates to Comviva

America, Europe, Africa and Asia.
The rollout enabled banks and mobile network operators (MNOs) in the US, Europe, Africa and Asia to provide their customers with mobile banking services.
Comviva’s Mobiquity platform is currently live or being deployed by 55 service providers globally and delivers mobile financial services to over 490 million mobile subscribers in more than 20 markets across Africa, Asia, Latin America and the Middle East.
The mobiquity platform embraces the mobile phone as a convenient, cash-free and card-free financial transaction medium, delivering a range of financial and payment services. Mobiquity mobile prepaid wallet functionality provides an end-to-end stand-alone financial solution catering to the needs of both banked and unbanked customers.
Unconfirmed reports suggest that TN Bank is one of EcoCash’s guarantors and the availability of Mobiquity banking as part of the platform which links banking services to the mobile phone, TN will have access to hitherto unbanked people with economical, anytime, anywhere access to banking services whilst delivering greater banking convenience to banked customers.
In a Press release, the mobile company said the migration was accomplished with minimal disruption.
“The migration paves way for the introduction of an over-the-counter merchant payment functionality which allows EcoCash customers to pay for their retail purchases using EcoCash.
Other features on the new platform include a bulk payments facility which will allow payroll and aid distribution directly to EcoCash wallets, inward international money transfer to EcoCash wallets, and a direct integration with banks to allow the seamless transfer of value from a customer’s bank account to their EcoCash wallet and vice versa,” it read.
Econet said the integration with banks will make the use of EcoCash a much more convenient experience as it will remove the need for a customer to first make a physical withdrawal of cash from one’s bank account and then visiting an agent to purchase e-money or, vice-versa, the need for merchants to cash out with an agent before depositing money in their bank account.
“PMT’s ‘Amethyst’ mobile money system has performed exceptionally well and has easily scaled to handle the rapid adoption of EcoCash in the market with complete integrity. Econet’s relationship with PMT will continue as PMT is our development partner for a variety of value added services, including the popular international SEND HOME Airtime service and various Econet CALL HOME services.
“These include TOUCH messaging, international call me back and the newly introduced EcoChat, a WAP-based instant messenger that connects the extended Econet international family. Core PMT products which underlie these Econet value added services include the “Amethyst” USSD gateway, the “Emerald” airtime and value management system and the “Crimson” financial transaction switch,” said a spokesman for Econet.
The country’s leading mobile services provider added that the strategy behind the move to Mobiquity is to leverage the experience that Comviva has gained through numerous mobile money deployments and which have been incorporated into the Mobiquity feature set.
By adapting the existing capabilities of the Mobiquity solution to the specific circumstances and needs of the Zimbabwe market, Econet expects to shorten the innovation cycle for new EcoCash services, thereby ensuring EcoCash remains at the forefront as Zimbabwe’s preferred mobile payments solution.