The Herald (Harare)

Zimbabwe: Econet, Western Union to Integrate Systems

Bulawayo — ECONET Wireless has entered into a commercial arrangement with global money transfer agency Western Union that will enable people to send money from abroad to account holders of its mobile money transfer platform EcoCash. This means EcoCash account holders will not need to physically visit Western Union branches to receive money sent through the money transfer agency.

Econet and Western Union are now working on integrating their systems, Mr Eddie Chibi, chief sales officer of Econet Services said on the sideline of SME's conference in Bulawayo yesterday.

The workshop, jointly organized by the Zimbabwe Revenue Authority and SME Ministry was held concurrently with the ongoing Zimbabwe International Trade Fair.

"We have signed a commercial agreement with Western Union and are now working on system integration," said Mr Chibi.

"When (people living abroad) send money, they actually specify the (mobile) number and the money will come straight into your (EcoCash) wallet."

It is estimated that more than three million people living are living outside the country, with the majority living in neighbouring South Africa.

Addressing the same conference earlier, Mr Chibi said Econet was awaiting regulatory approvals from South African authorities to introduce EcoCash service to Econet subscribers of roaming.

He said the new service was likely to see remittances from South Africa growing as well as improving accountability. Since its inception in 2011, EcoCash now has 4,2 million account holders.

The service has also helped to mobilise funds outside the banking system (financial inclusion).

Ads by Google

Copyright © 2014 The Herald. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.