Chronicle Editor
ZIMBABWE’S largest mobile money platform, EcoCash, says its users can now pay for DStv or book flights using the EcoCash Foreign Currency Account (FCA) wallet.
The latest development from the top mobile money services company in Zimbabwe will make life easier tens of thousands of citizens who receive foreign currency remittances from relatives and friends in the diaspora.
Instead of wasting precious time in long queues, EcoCash customers will now simply make foreign currency transactions on their mobile phone, wherever they are.
“Rapid technological change and the effects of the coronavirus pandemic have significantly changed the world and customer behaviour.
“Consistent with those changes, EcoCash has accelerated its digital innovation develop new products and services that better respond to the evolving needs of the customer,” said EcoCash .
“Our valued customers will now enjoy the convenience of using funds in their FCA wallet to pay their DStv subscriptions, book flights and make online payments, such as Alipay,” the company said.
DStv, the pay-TV operator owned by MultiChoice Africa, is popular in Zimbabwe due to its diverse and quality programmes, ranging from sports, entertainment, business, wildlife and education, that cater for different customer needs.
EcoCash FCA customers can already conduct a host of transaction types, including buying airtime and making online foreign payments at the touch of a button.
Statistics from the Reserve Bank of Zimbabwe show that the country received a total of US$2,405 billion in international remittances last year, a 46 percent increase from US$1,650 billion that was recorded in 2020.
Of the total amount, diaspora remittances amount to US$1,430 billion, a 43 percent increase from US$1,002 billion received during the same period in year 2020.
“The experience of the COVID-19 pandemic has opened our eyes to the need for continued innovation and investment in areas that are valued by our customers.
We will strive to serve our customers by continuing to offer the convenience where it matter most,” EcoCash said.
Analysts say EcoCash’ financial inclusion model has contributed to poverty reduction in the country, reducing inequalities and extending financial solutions to previously excluded rural communities, women and young people.
The company’s integrated mobile money platform offers multiple financial transacting services, tailored to suit a diverse market and to include the banked, unbanked and under-banked customer segments.
Online Reporter