Online Reporter
EcoCash, Zimbabwe’s leading financial technology company, is targeting small and medium-sized enterprises (SMEs) at the Sanganai/Hlanganani World Tourism Expo this week as it showcases its EcoCash Plus Business Wallet, with the company commiting to deepen its support for country’s growing SME sector and help them scale their operations.
With close to 400 companies reported to be exhibiting at the Expo in Masvingo this week, EcoCash has positioned itself at the high-profile event as a strategic platform available to businesses operating across the tourism, hospitality, retail, transport, agriculture, services and other sectors of the economy, while demonstrating how EcoCash Plus can conveniently support their operations and offer everyday financial solutions.
At the heart of EcoCash’s SME drive is the simple value proposition: To enable businesses to receive, pay, earn and manage their operations through one convenient smart business wallet.
Designed to meet the needs of SMEs, micro-enterprises, growing informal traders and service providers, EcoCash Plus supports Consumer to Business (C2B), Business-to-Consumer (B2C) and Business-to-Business (B2B) transactions, connecting how businesses receive money from their customers with the way they pay suppliers and meet their day-to-day operating requirements.
On the Consumer to Business side, SMEs can receive customer payments directly into their EcoCash Plus Business wallet and conveniently credit customers with digital change allowing customers to pay the exact amount for goods and services. On the Business to Consumer side, SMEs can make payments directly to individuals and they can also sell airtime, ZESA and earn commission – creating additional income streams.
For Business to Business clients, EcoCash Plus enables businesses to pay suppliers, settle utility bills such as ZESA, council rates, pay for insurance, and transfer funds to bank accounts among other business payments.
This means that a business can receive payment from a customer and use the same ecosystem to pay for stock, settle operating expenses and manage its financial transactions, creating a more connected digital business journey.
“For SMEs, digital payments go beyond simply collecting money from customers. The opportunity is to enable the full business journey: receiving payments, paying suppliers, managing day-to-day obligations and creating additional earning opportunities – within one convenient business wallet,” EcoCash said.
Every transaction on the platform generates a digital record, helping business owners track incoming and outgoing payments, reconcile their accounts and maintain better visibility of their business activity.
The EcoCash Plus value proposition is uniquely designed to be relevant across different sectors and business types. A retailer, for example, can receive payments from customers, pay a wholesaler for the next stock order, settle utilities and earn additional income through airtime sales. Transport operators, artisans, restaurants, tuckshops, market traders and other service businesses can also use the account to receive payments and manage routine business expenses digitally.
The solution is currently accessible through established EcoCash channels, including USSD and point-of-sale (POS). Going forward, the EcoCash Super App is expected to further enhance the EcoCash Plus experience by providing SMEs with an integrated digital platform to manage business transactions and access an expanding range of services.
The company’s participation at Sanganai provides an opportunity to showcase EcoCash Plus and to engage and onboard more SMEs onto the its digital financial ecosystem, helping businesses move from predominantly cash-based operations towards more convenient digital transactions.
SMEs can seamlessly apply for the EcoCash Plus Business wallet through the EcoCash WhatsApp Chatbot on 0777 222 152, from the comfort of their shops, trading areas or business premises. The simplified digital application process simplifies the onboarding process, with applications processed within up to 24 hours.
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