Zimbabwe’s Telecel today launched its electronic wallet service, telecash, which allows mobile phones to be used to send money to anyone with a mobile phone, regardless of network, and pay for groceries, bills, airtime and other goods and services.
Telecel subscribers can register for telecash at any Telecel office or with selected telecash agents or telecash ambassadors, who will be found roaming around the streets for the convenience of customers wishing to sign on for telecash.
All that is needed to register is one’s identity card and a photocopy of it and to complete a telecash application form. Telecash subscribers can deposit money in their electronic wallet (e-wallet) or withdraw money from it at any Telecel shop or telecash agent.
There is no minimum balance required. There are no monthly charges. Transaction charges are competitive. 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.
Those who register for telecash 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 devices in shops, restaurants, hotels and other retail outlets throughout the country. Telecash subscribers can also 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.
There is a bulk payments facility that allows corporates to make bulk payments, including salaries, through telecash. The same facility also allows banks to make loan disbursements directly into a borrower’s account. The borrower can make loan repayments through telecash as well.
Telecash subscribers can send money to anyone with a mobile phone, whether the person is a registered telecash subscriber, a Telecel subscriber who is not registered for telecash or the subscriber of any other mobile phone network.
They can use telecash to purchase prepaid airtime not only for themselves but for anyone else on the Telecel pre-paid platform. They can check their wallet balance, check their transaction history, change their personal identification number (PIN) and make payments to such service providers as Tel-One, DSTV, Zesa and the Harare City Council.
Telecash is well integrated with billers, which means the biller’s account will be instantly updated as soon as a payment is made.