Ecocash Zimbabwe

Modelled on Safaricom M-Pesa; Whilst there have been several attempts to launch similar systems on the market, the key difference of this new system from Econet is its size and capacity. Econet has crossed 6m customers - almost half the population.


Link to external site : Website for Ecocash Zimbabwe
Ecocash Zimbabwe
Brand
Launched in
Status
Launch
Importance
Traction
Evaluation
GSMA evaluation July 2012: Impressive growth to reach 1.5m in 8 months (See http://mmublog.org/blog/zimbabwe%e2%80%99s-ecocash-shows-impressive-growth/)
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Account Type
Stored Value
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Business Model

Originally too costly to send money using EcoCash: To transfer US $200 to a non-EcoCash subscriber cost US $14 in charges. Econet reduced this to $6 but it remained one of the most expensive mobile money services.

In 2012 send, receive and load was made free of charge, with maximum 2% of value charged for transactions, to maximum of US$2.

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Class
Send Services Receive

Agent


Mobile


Wallet

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BP

DAT

DMT

MM

MP

MW

Trade
framework/arrowright.png

Wallet


Agent


Mobile

Model
non-bank based
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Who Leads?
mobile operator led
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Reach
Active Users
Registered Users
Potential Mobile Market (m)
Regulations
Persona
Purpose
Active Services
Card Type
ServicesDescription
Channels
Payment Instruments
Cash I/O Description
Econet has engaged over 500 EcoCash agents countrywide, providing employment to small businesses in some of the country’s most remote areas. Post Offices have also been registered as agents and discussions are on-going with the major retail chains.
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Cash I/O No Of Locations
Handsets
Technologies
Interoperability
All MNOs, no bank account
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RegistrationProcess
No new SIM card; No bank account needed; Works across all networks
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Main Segment Unbanked
Segment Description Unbanked

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