New e-wallet service for Telecel subscribers

Telecel today launched its electronic e-wallet service, telecash, which allows its mobile users to send money to anyone with a mobile phone across all networks.

Telecash, a simple to use, instant, convenient, secure and competitively priced service is available to Telecel subscribers and enables mobile users to transact through ZimSwitch among a host of other advantages.

Addressing journalists at the company’s headquarters in Graniteside, Harare today, Telecel Mobile Financial Services Director, Nkosinathi Ncube said the facility is available to subscribers whether they are registered or not.

Said Ncube: “Anyone with a mobile phone can use this facility to pay for groceries, bills, airtime and other goods and services.

“It does not matter whether the person is a registered telecash subscriber, an unregistered Telecel subscriber or a subscriber of any other mobile phone network, you can still transact through this e-wallet facility,” he said.

Ncube said subscribers who wanted to register for the facility could do so at any Telecel offices or selected telecash agents.

“Customers should present their identity documents, valid passport or drivers license and a photocopy of these documents to register for telecash," he said revealing that the company had recruited at least 1,600 telecash agents countrywide for the initial registration exercise.

Ncube said transaction charges for Telecash are competitive and there is no minimum balance or monthly charges for subscribers.

"Telecash can be used to pay for goods and services at any outlet, whether it be a shop, post office or other outlet, displaying the telecash logo," said Ncube.

"Registered telecash subscribers can request a telecash debit card, which can be used to pay for goods and services at any of the more than 4 500 ZimSwitch branded point of sale machines in shops, restaurants, hotels and other retail outlets throughout the country," he said.

The facility allows Telecash subscribers to transfer money into any bank account held at a bank that is a member of ZimSwitch utilising the ZIPIT facility.

"Money can be transferred from major international destinations straight into a telecash account, though various international money transfer corridors," said Ncube, adding that an existing bank account can be integrated with a telecash account.

Telecash allows banks to make loan disbursements directly into a borrower’s account and the borrower can make loan repayments through telecash.

The e- wallet service has a facility for corporates, which allows them to make bulk payments, including salaries, through telecash.

Ncube highlighted that the bulk payments facility is particularly useful for Non-Governmental Organisations that distribute funds to remote parts of the country and for employers who may find it convenient to arrange salary payments outside normal banking hours.

“The bulk payments schedule can be uploaded, checked and authorised even at midnight,” said Ncube.

Said Ncube: "Subscribers can use telecash to purchase prepaid airtime not only for themselves but for anyone else on the Telecel pre-paid platform.

"Subscribers can check their wallet balance, check their transaction history, change their personal identification number and make payments to such service providers as Tel-One, DSTV, Zesa and the Harare City Council because telecash is well integrated with billers, which means the biller’s account will be instantly updated as soon as a payment is made," said Ncube, adding that the facility is very useful for subscribers with no bank accounts.

Telecash registration is instant and subscribers activate their telecash accounts by dialling *888#, which includes the selection of a secret personal identification number that will be used to conduct all transactions.

“We are not going to set up new infrastructure but we are going to utilise the existing infrastructure," he said.

Said the Chief Commercial Officer for Telecel, Ashraf El Guindy: "The facility is supported by strong banking partners and it is well developed to cater for citizens from all walks of life."

The spending limit for Telecash transactions is $500 per transaction and $1 000 per day while the transaction limit per month is $5 000.

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