Breaking News

Econet attacks CABS

by Business Reporter
12 February 2013 | 4101 Views
ECONET Wireless Zimbabwe has launched a scathing attack on CABS accusing the building society of campaigning against its mobile phone money transfer service, EcoCash, because it offers a similar product .

The mobile phone operator denied claims by some banks that it has denied them access to its mobile phone money transfer gateway to enable them to initiate transactions straight from clients bank accounts to a recipient mobile number.

Econet Wireless executive  responsible for the rollout of EcoCash Mr Darlington Mandivenga has dismissed a claim by BAZ past president Mr John Mushayavanhu that the mobile giant was denying banks access to its platform for integration.

"That is simply not true. We have agreements with most of the banks and we are currently carrying out physical connections with most of them.

"We as Econet initiated the process and we are very keen to get it completed, but it cannot be rushed because it involves accessing bank accounts," he said.

Mr Mandivenga said Econet expects most banks to have their systems running by the end of March.

"Right now I am expecting three major banks to go live within 10 days, because we are almost complete," he added.

He named CABS as "the only institution which has been actively trying to fight the EcoCash service and has tried unsuccessfully to lobby against it. CABS partnered Zimswitch and Telecel Zimbabwe for a new mobile banking service called Textacash, which will enable its customers to "send cash home by cellphone''.

"As you know, CABS has been working with Zimswitch to launch a service called Textacash. Since their own customer base is very small compared to the Econet subscriber base of eight million, they want us to open up our system, so that they can simply spam any of our customers with text messages.

We will never allow that because it would not only violate our licence. It would be total abuse of customers' privacy," said the Econet Wireless executive.

Efforts to get a comment from former CABS managing director Mr Kevin Terry, who is now at Old Mutual, were unsuccessful as he was said to be locked up in a long meeting.

"They want to create an impression that this is the position of all banks, but they do not disclose to them that it is their own interest that they are fighting for. If CABS and Zimswitch want to compete with us, they are free to do so, but they must build a proper system that reaches the rural people in Zimbabwe.

"They have been there for decades, and never did anything to benefit the masses. This is not about the interests of banks or cellphone companies, it is about providing services to ordinary Zimbabweans," said Mr Mandivenga.

"Our friends in the banking system have told us about the campaigns to try and preserve the status quo in which less than 3 percent of our people had access to the formal financial system, and where thousands of people had to line up every month for hours just to access their own money, or travel all day just to find a CABS branch. This is not the future."

Banks, through BAZ, have already lobbied the central bank to take action against Econet Wireless' alleged reluctance to integrate them into the EcoCash platform.




Banks claim they did not have a similar challenge with other mobile phone operators, namely Telecel Zimbabwe and NetOne, but Econet Wireless, the country's largest mobile operator.

Reserve Bank of Zimbabwe Governor Dr Gideon Gono recently said he would discuss the matter with the Postal and Telecommunications Regulatory Authority and also amend banking legislation to address a number of issues relating to mobile banking.

Econet Cabs

Source: TH

Could there be war if Grace Mugabe becomes President?

Yes
74.49%
No
8.73%
Who cares?
16.78%
584

Comments

Latest Classifieds (Click Here For More)

News Updates

Email:

Latest News

Zanu-PF Masvingo fires leadership - Masvingo Zanu-PF provincial member...

by Staff reporter | 30 October 2014 | 1571 Views

'No no scrambled for bail money' - MDC

by Nhlanhla Dube National MDC Spokesperson | 30 October 2014 | 1453 Views

President Mugabe blasts those who were against Dr Amai's rallies - PRE...

by Staff Reporter | 30 October 2014 | 5221 Views

War collaborators denounce Jabulani Sibanda - Video

by Staff reporter | 30 October 2014 | 2619 Views

Mutasa booed by war vets, Mugabe says 'you started it' - Zanu-PF Secr...

by Staff Reporter | 30 October 2014 | 5529 Views

'Tisu takanogwadama kukumbira Mai Mugabe,' says Mahofa - Video - Zan...

by Staff Reporter | 30 October 2014 | 2467 Views

SA Police to investigate Zim torture claims

by Staff Reporter | 30 October 2014 | 2318 Views

Fallacy of internal Zanu-PF Revolt - The figments of private press's i...

by Caitlin Kamba | 30 October 2014 | 2165 Views

Grace must give details on Mujuru's corrupt acts

by Zanda Shumba | 30 October 2014 | 3151 Views

A letter to Amai Mujuru and Amai Mugabe - Zimbabwe is a great country ...

by Vince Musewe | 30 October 2014 | 2571 Views

'Jonathan Moyo after my bacon' - Jealousy Mawarire, the journalist who...

by Staff reporter | 30 October 2014 | 2285 Views

Solomon Mujuru haunted in grave - As the Zanu-PF politburo meets today...

by Staff reporter | 30 October 2014 | 2303 Views

CBD accident in pictures - This picture collage shows the wrecks of t...

by Munyaradzi Chamalimba | 30 October 2014 | 4858 Views

Zanu-PF decisive Politburo - Live updates

by Staff reporter | 30 October 2014 | 12842 Views

'Insolvent' Matonga fails to pay debts, property attached - FORMER Dep...

by Court Reporter | 30 October 2014 | 3180 Views

Drama as goblin pays family a visit in broad day light - BULAWAYO - A ...

by Staff Reporter | 30 October 2014 | 4669 Views

SK Moyo's ties with Mujuru cost him VP post

by Staff Reporter | 30 October 2014 | 5135 Views

Police struggle to pay former cop's $64 000

by Court reporter | 30 October 2014 | 2298 Views

Ailing Nigeria based Zim driver treated from a car as Ebola fears rage...

by Staff reporter | 30 October 2014 | 2631 Views

Macheso's hubby to 'spill bins' in court

by Court reporter | 30 October 2014 | 2546 Views

Zim man who lost wife, three children in Australia car crash speaks - ...

by Staff Reporter | 30 October 2014 | 3091 Views

Mujuru family involved in dirty gold - Evidence has emerged of the se...

by Gerry Jackson | 30 October 2014 | 4229 Views

'Prophet' bashes girlfriend over pregnancy - A SELF-proclaimed prophet...

by Plaxcedes Hove | 30 October 2014 | 2404 Views

War vets demo against Ray Kaukonde postponed - Zanu-PF provincial ch...

by Staff reporter | 30 October 2014 | 2017 Views

'Mugabe will regret Grace Mugabe decision' - Outspoken war veteran an...

by Staff reporter | 30 October 2014 | 6343 Views

Mujuru in $1 million scandal - DETAILS of Vice President Joice Mujuru...

by Staff reporter | 30 October 2014 | 4075 Views

D-Day for Mujuru - Out-going women's league boss, Oppah Muchinguri wil...

by Staff reporter | 30 October 2014 | 5179 Views

Entertainment

Oliver Mtukudzi to get 'real' PhD - ICONIC musician Oliver Mtukudzi is...

by Staff reporte | 30 October 2014 | 1507 Views

Zimbabwe's JJ survives Big Brother Africa eviction... again - Zimbabw...

by Staff reporter | 27 October 2014 | 1892 Views

Carl Joshua Ncube to star in game show - Comedian Carl Joshua Ncube wi...

by Staff reporter | 23 October 2014 | 1505 Views

LadyBee Anondida - Official video

by Staff Reporter | 23 October 2014 | 3877 Views

Zim representative in the Big Brother Africa survives eviction - Zimba...

by Staff reporter | 20 October 2014 | 3412 Views

Grace Mugabe's political comedy takes ZTV hostage - For the past two w...

by Staff reporter | 20 October 2014 | 6394 Views

Oliver Mtukudzi to deliver lecture at Musica 2014 - Zimbabwe's interna...

by Staff reporter | 19 October 2014 | 2076 Views

Gezha maoko - Ladybee (Official Video)

by Staff Reporter | 19 October 2014 | 3976 Views
iBlog

The Zero-day Vulnerability Cve-2014-4114 Impacting All Versions Of Microsoft Windows

new microsoft windows zero-day vulnerability - cve-2014-4114on tuesday, october 14, 2014, isight partners - in close collaboration with microsoft - announced the discovery of a zero-day vulnerability impacting all supported versions of microsoft win... Read More
SecNews 16 October 2014 ago

Four In 10 Americans Face Regular Online Fraud Attacks

Microsoft offers four primary tips to help protect users from identity theft:• be selfish and defensive with personal information by not sharing sensitive details in emails, and instant and text messages• create, use and keep secret so-called “... Read More
SecNews 24 October 2014 ago