NEWS RELEASE 29 January 2014 TELECASH ONE
Telecel launches telecash
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, Insurance Companies 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.
While anyone with a Telecel line can register for telecash, the new electronic banking wallet launched by Telecel is expected to be particularly useful to those who have no access to a bank account.
“Telecash offers convenience for everyone but in particular offers banking services to people with no previous access to banking and financial services, especially those in the country’s remote areas,” Telecel Mobile Financial Services DirectorNkosinathi Ncube said.
“They can receive, deposit and draw money without having to travel long distances to a bank. They can pay for goods and services without having to keep unnecessary amounts of cash on their persons,” he said.
The bulk payments facility, he pointed out, would be particularly useful for Non-Governmental Organisations (NGOs) that distribute funds to remote parts of the country and for employers who may find it convenient to arrange salary payments outside normal banking hours.
“The bulk payments schedule can be uploaded, checked and authorised. There is no need to travel anywhere. Moreover the files can be run even at midnight,” Mr Ncube said.
Registration is instant. Once registered the subscriber has to activate the Telecash account through a simple procedure of dialling *888#, which includes the selection of a secret personal identification number (PIN) that will be used to conduct all transactions.
“Telecash is very easy and simple to use, convenient, secure and above all competitively priced. It is also fast. Transactions conducted on the telecash platform are almost instant,” Mr Ncube said.
He said telecash had signed up agents and merchants across the country where subscribers are able to conduct their transactions.
“We are taking advantage of infrastructure that is already there, which means utilising existing supermarkets, service stations, post offices and other outlets as agents or merchants.
“We are looking at having at least two agents at every key shopping centre or business centre in the country,” he said, adding that there were many other outlets that were merchants rather than agents, where telecash would be accepted. Those who sign up as agents will also be able to sell airtime using the mobile platform.
The spending limit for Telecash transactions is $500 per transaction and $1 000 per day. The transaction limit per month is $5 000.
Contact person: Chengetai Chinembiri