Econet upgrades EcoCash

Econet Zimbabwe has introduced over-the-counter merchant payment systems that allow EcoCash customers to pay for retail purchases using the platform.

In a statement yesterday, Econet announced other features on the new platform included a bulk payments facility that would allow payroll and aid distribution directly to EcoCash wallets and inward international money transfer to EcoCash wallets.

EcoCash now also allows 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. Through the platform, users are able to send and receive money, buy airtime, and make other payments using their mobile phones.

The telecommunications company said the integration with banks would make the use of EcoCash a much more convenient experience as it would 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, the need for merchants to cash out with an agent before depositing money into their bank account.

Econet said they conducted the migration of the Ecocash service from a platform supplied by Pattern Matched Technologies to one supplied by Comviva.

The Comviva platform, called "Mobiquity", has been widely adopted globally by over 55 leading banks and mobile phone operators. Econet said the strategy behind the move to Mobiquity was to leverage the experience that Comviva had gained through numerous mobile money deployments, which had been incorporated into the Mobiquity feature set.

The company expects to shorten the innovation cycle for new EcoCash service by adapting the capabilities of the Mobiquity solution to the specific needs of the local market. "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," reads part of the statement. “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.

"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. 

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