Mobiquity oils EcoCash

adopted globally by over 55 leading banks and mobile phone operators.
The migration was accomplished with minimal disruption and paves way for the introduction of an over-the-counter merchant payment functionality that 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.
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.
It will also eliminate the need for merchants to cash out with an agent before depositing money in their bank account. Econet paid tribute to Pattern Matched Technologies (PMT) for the company’s professional and world-class support in the development and operation of the EcoCash solution.
“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,” said a spokesman for Econet.
“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.
Econet said 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.