Sundaymail EditorMAHINDRA Comviva, a global provider mobility solutions, on Tuesday announced the debut of connectMoney Service Manager through a deal with Econet Wireless in Zimbabwe.
As a part of the first live deployment of connectMoney Service Manager, Econet Wireless has issued MasterCard debit cards linked to the EcoCash Wallet, according to a press release.
Mahindra Comviva said in the announcement that this is the largest rollout of secure EMV chip-and-PIN payment cards in Zimbabwe.
It is also the first time MasterCard debit cards are available to consumers who use mobile money services in Africa.
Mahindra Comviva said the connectMoney Service Manager creates an industry benchmark for mobile money by connecting financial open systems powered by MasterCard and other card networks.
EcoCash accountholders will receive MasterCard debit cards that allow them to transact at POS terminals and also to withdraw cash via MasterCard-accepting ATMs locally and internationally.
The connectMoney Service Manager also offers virtual cards on request, according to the announcement.
The virtual card number is delivered through an SMS, which is accepted for payments across all e-commerce websites. The virtual card is directly connected to the mobile money account of the subscriber.
In a statement, Srinivas Nidugondi, senior vice president and head mobile financial solutions for Mahindra Comviva underlined the significance of the launch: “Electronic payments acceptance is crucial to the Zimbabwean economy. It is imperative to provide convenient and integrated solutions to the consumers. connectMoney Service Manager will provide seamless interoperability with heterogeneous systems and services.”
EcoCash chief operating officer Japhet Aritho said, “We are delighted to further strengthen our partnership with Mahindra Comviva and MasterCard to offer this unique offering, which provides additional choice to consumers across Zimbabwe. Consumers can now enjoy on-the-go transactions locally as well as internationally at a nominal price.
This will further accelerate adoption of electronic payments in the country, thus promoting the national agenda of a cashless society, as well as provide our customers with convenience for global transactions.”
Mahindra Comviva said in the announcement that connectMoney Service Manager is a “platform-agnostic” offering that benefits multiple customer groups: Consumers gain access to a large network of physical and online merchants, and the ability to pay via mobile money accounts; merchants increase transactions by accepting payments from mobile money accounts; the service provider sees an uptake in payments and enhanced revenues. – mobilepaymentstoday.com
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