At an event earlier today NetOne revealed the some of the winners of the Fees for Less promotion but during this event we got wind of a more exciting development concerning the OneMoney brand. It seems they are trying to bolster their merchant network and are currently in the testing phase with the OK retail chain of supermarkets.

This was revealed by NetOne’s Marketing and PR Executive Eldrette Shereni in response to one of the winners questions, who had enquired if OneMoney would be making its way into the shops as a payment method as the only (in most shops) method of payment right now was swipe or EcoCash. She disclosed:

*We are piloting the system at OK Eastgate and OK Mbare. With this system even if you forget your phone somewhere the till operator can just enter your number and you can enter your pin. So even if you forget your phone or the card you will be able to transact.

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We are still in the testing phase for this project with those two Ok supermarket. Once testing is done it will be in all the OKs. We are also trying to roll out this solution before the grand challenge is over.

So it seems this solution is around the corner as the OK Grand Challenge will be ending on the 1st of June. This was an interesting quote for a number of reasons…

More convenient system on the way?

This however, does introduce security concerns in this whole equation. With this new system, as long as someone (e.g. your spouse/child) knows your OneMoney password they might be able to transact in your absence and buy something that you do not necessarily approve of, so I guess the convenience may come at a cost. Overall though I do think this convenience is a good option to have because there are instances where customers go to a shop only to realise they left their card or phone and because of that they cannot transact, just like the guy who asked the question that got Shereni to reveal this information.

OneMoney putting up a fight…

When EcoCash started to open their door to users on other networks, we began wondering if this was the beginning of the end of the OneMoney and Telecash services. Recent moves by NetOne show that they are alive and kicking. Firstly, OneMoney recently hired a new Managing Director for their Mobile Financial Services division which is not something they would commit to had they given up on the mobile money field.

More recently, they’ve been offering incentives for parents to join their mobile money service through the aforementioned Fees for Less promotion which ensures that the first 100 parents who pay for fees using OneMoney can get a portion of that fees back. This is a great initiative but when NetOne where advertising this promotion they had stated that they would be refunding 100% of the fees. Anyway we will talk about this soon enough.

The Fees for less promotion was also an incentive for schools to register on the platform and once again this is a good way to build up the OneMoney merchant network so it’s a win-win for both subscribers and NetOne.

This latest coupling with OK means NetOne are definitely trying to enter the retail space and even though they are behind Econet it’s a good thing that they are making these moves because at the end of the day the monopoly of EcoCash is not very healthy. The competition is also very vital and if ever OneMoney reaches the heights of EcoCash they will continue to push each other to innovate and this can only result in better services for end users i.e. you and me.

*Quote was in Shona but was translated to accommodate readers

The post Soon OneMoney Users Will Be Able To Buy In Ok Supermarkets Around The Country appeared first on Techzim.

That’s it, that’s the story  right there.

There has been talk that Ecocash suddenly suspended agent accounts. This was surprising to us when we first heard it because it doesn’t make sense that Ecocash would rock the boat with agents when this network is the strength their solid market position is built on. (If interested in how Ecocash achieved their dominant position you will want to check out our report on the Ecocash business model and its development).

It turns out the rumour is truer than we first assumed. The next thing we saw was a WhatsApp group invite link to a group of ‘supposed’ disgruntled Ecocash agents. The group is called Allied Ecocash Agents and its description says Ecocash Agents Association. At the time of writing this sentence the group has 232 participants and more seem to be joining if the rate of population growth so far is anything to go by. Very soon the maximum number of participants in a WhatsApp group (256) will be reached.

The group icon of the group is this one:

The group is very busy and it’s really difficult to keep up with the conversation there. You can tell there are angry people in there and there are also some who seem to be mocking the rest of the members.

Majority of group members are angry at Ecocash (or Econet as far as they are concerned). They are saying Ecocash has barred their agent SIM cards and more than that they are saying Ecocash still owes them their commissions and they seem to believe that the commissions will not be paid out.

A lot of talk has been around rallying up all agents to ditch Ecocash and join rival Telecash and OneMoney. Some members in the group are scoffing at that suggestion. At 10:19 a member posted that 25 of them had congregated and were marching to Ecocash offices in Borrowdale. They said they were gonna wait for 15 minutes in case others wanted to join the march. No mention of the march has happened after that so we are not sure if it happened. Not likely though, marching past the state house is a tricky one.

Ecocash’s response

We reached out to Ecocash and their response was that they from time to time temporarily bar agents that would have been reported to be violating regulations in their operations. They said they then reconnect some of the agents based on their investigations and how the agents themselves respond to the complaints made against them. Those who are found wanting are then permanently barred.

They emphasised that only a few of their agents (less than 1 000) out of their more than 30 000 have been affected. Here is a statement from Ecocash responding to our questions:

EcoCash routinely carries out system reviews and security checks on its agent network to ensure transaction process integrity, and to protect the public from irregular and outright fraudulent activities.

Where any suspicious activities are detected, EcoCash investigates and takes appropriate corrective action, including suspending or barring the offending agent.

From these standard system reviews and security checks, EcoCash shares STRs (Suspicious Transactions Reports) with the regulator (RBZ) as a compliance requirement.

EcoCash wishes to assure its customers and the transacting public that the overwhelming majority of 30.000 agents continue to trade normally throughout the country.

The issue of regulations

Some of the regulations that are obviously being violated have to do with the differential in the value of money depending on what type of money you have. The official position (according to the Reserve Bank of Zimbabwe) is that a person who is holding $100 in real US dollars is holding the same as one who has that same amount in bond notes, bond coins or in their bank account or Ecocash wallet.

However, in the real economy that you and I interact with on the streets and everywhere else $100 in greenbacks is equal to about $125 in bond notes, about $135 in bond coins and about $155 in a bank account or Ecocash wallet. Ecocash agents are thus facilitating cash ins and cash outs based on this differential. The official position is that this practice is illegal.

The law versus economics

The prevailing rates I gave above are not established by some powerful bad people who just want to break the law. The rates exist out of the basic laws of demand and supply. The official position is attempting to distort the market realities and I don’t see the law winning on this one. Markets are stubborn. Unfortunately, Ecocash can’t allow their network to be used in a way that their regulator deems illegal regardless of what the market demands. They find themselves in a catch 22.

Could the RBZ be applying pressure?

I didn’t ask Ecocash the question that they would not be able to answer if it were yes but I will just speculate and say probably the central bank is applying pressure. The RBZ is desperate to control the flow of the multicurrency basket they claim we are using in Zimbabwe. Their desperation was shown by their ban of cryptocurrency trade. They could be turning to mobile money now. They might as well suspend every bank account in Zimbabwe to be honest.

The post Ecocash Accused Of Arbitrarily Barring Agents, Some Agents Form ‘Association,’ Ecocash Responds appeared first on Techzim.

Back in March, EcoCash partnered with Botswana telecoms company Orange to enable money transfers from Orange Money to EcoCash. The old agreement was a great one but it wasn’t the most convenient solution as recipients had to go collect the money at Econet shops.

Now the partnership is evolving to ensure that EcoCash users can receive the money from Orange Money straight into their EcoCash wallets. No need to go retrieve the money if you don’t want to.

A part of the press release sent out read:

Gaborone: 13 June 2018 –

Early this year, Orange Money Botswana and EcoCash launched a new partnership to enable better and more affordable access to digital money transfers between Zimbabwe and Botswana. Powered by TransferTo’s global mobile payments network, this service now allows Zimbabwean diaspora, living in Botswana, to use their Orange Money digital wallet to send money back home to family and friends, in real-time, directly into an EcoCash mobile wallet.

Remittances represent a very important source of income for Zimbabwe, powering significant social and economic developments across the country. For the over 600,000 Orange Money subscribers, this convenient new service offers a unique payments experience enabling quick, simple and more affordable money transfers between digital wallets, providing an alternative option to traditional means of sending money across borders. And by advocating the use of mobile money, this partnership is ultimately helping to alleviate poverty through better financial management and as well, powering economic growth for communities.

Users are still guaranteed to receive their money and in the press release sent out was the statement:

In addition, all recipients of funds remitted via EcoCash are guaranteed to access it in cash. We have guaranteed cash for our customers in Zimbabwe and it’s something for our customers and partners to be excited about.

What currency will users get?

We were wondering which currency users will be getting when they decide to withdraw their money. An EcoCash representative also confirmed that users receiving money via this route would be able to get their money in USD’s just like other remittance services Western Union and World Remit.

No need for a separate wallet

Unlike the Rand Wallet introduced back in 2016 to deal with Cash-ins and Cash-outs from South Africa, the partnership with Orange Money won’t require a special wallet. The money comes straight to the normal EcoCash wallet you use on a daily basis.

The post Orange Money Users In Botswana Now Able To Send Money Directly To EcoCash Wallets appeared first on Techzim.

Zimbabwe’s largest mobile money services provider, Ecocash has set its site on the sub dollar economy. They have now scrapped off transaction fees for all below dollar transactions when paying for goods and services at merchants.. Their advert campaign is directly speaking about paying for kombi fees.

Pay merchant and not send money…

When I first saw this my immediate question was, “Are they scrapping the fee for all transaction types or just paying merchant?” I asked Ecocash and they confirmed my suspicion that this was for merchant payment and not every type of transaction. This made sense to me because that is exactly the strategic play I expect from Ecocash.

Side note

Ecocash has exhibited stellar strategic foresight and execution right from the beginning. They are a worthy case study for anyone interested in tech business models on the African continent particularly how to get it right and dominate a market. We have a write-up on this that we did a few months back. To buy it send an Ecocash payment of $4.99 to the Techzim Merchant Number 83688 then email admin@techzim.co.zw the payment confirmation and we will send the write-up to you. If you want to use any other payment method please email send an email and we will assist.

Back to strategy:

Why ‘pay merchant?’

First off, Ecocash wants to own the merchant relationship. They now have 50 000 merchants that accept Ecocash payments across the country. This is almost 20% more than the number of Zimswitch POS and ATM terminals combined. Ecocash is thus the undisputed king of consumer payments. If they get public transport operators as they have set their sights to do then it will be difficult for anyone to touch them.

Keep it in

For all intents and purposes Ecocash has become the de facto cash in Zimbabwe. All with the exception of kombi and musika (public transport and vendor stalls) purchases. The reason why most people who are still queuing up for cash are still doing so is mostly kombi fare: hwindi anongoda cash and no other mode of payment (the conductor only wants cash). By attracting the kombi ecosystem to Ecocash, the mobile money operator will be able to keep a bit more of Zim’s funds on their platform.

The bigger game is utility

The bigger deal for Ecocash is making their service a no brainer for every Zimbabwean. They want to make it the most logical and only choice for the cashless Zimbabwean population. It’s not about transaction fees, it’s about locking users in. This has been the fintech company’s thinking from day one and that’s why they have 98% market share.

Other mobile money players

There has been too much emphasis on the agent in this sector. The POTRAZ reports report on numbers of the agent network and there’s no mention of the merchant network. It is merchants that are most useful especially now that there is no cash to ‘in or out.’ Ecocash’s competitors have been focused on expanding their agent network and not doing enough to increase the merchant network.

Agents were very critical at the beginning when people didn’t understand what mobile money was. Ecocash understood this of course and they built a bigger network than anyone else to the extent that rivals wanted infrastructure sharing to apply to mobile money agents too. Right now they have 30 000 agents and they can afford to bar any one of them for violating whatever terms they have because Ecocash is now more important to the agent than the agent is to Ecocash. Competition should see that too.

OneMoney or Telecash could have moved on kombis first

OneyMoney or Telecash had the bigger opportunity to be first with kombis because they have the Zimswitch debit card. They are the ones who should have invested in and pushed Kwenga like devices. They could have deployed these in kombis faster than Ecocash could say ‘Merchant.’ I am disappointed they didn’t see this one.

Hwindi’s are gonna resist obviously

Drivers and their conductors will most probably resist accepting Ecocash because this means transactions will be on the record and so yemusana dololo (they won’t be skimming off from their employers’ takings). I don’t know if they can hold off against market forces though nor against Ecocash’s doggedness. We will see…

Downside to Ecocash for kombis for ordinary folks in the kombi

The little downside to this development is that it may make it easier for kombi operators raise fees. Right now the kombi fare is locked in at $0.50 because cash is super scarce and because change is a problem. Ecocash presents neither of those constraints.

Reminder

Remember to buy Techzim’s write-up on the Ecocash strategy: just send an Ecocash payment of $4.99 to the Techzim Merchant Number 83688 then email admin@techzim.co.zw the payment confirmation and we will send the write-up to you. If you want to use any other payment method please email send an email and we will assist.

The post Ecocash Scraps Off Transaction Fees For Below $1 Transactions, Push For Kombi Fees By Ecocash appeared first on Techzim.

Some users of EcoCash have been having trouble using the mobile money platform for the past few hours and at the time of writing we still can’t access the service. We know that the challenges have been affecting users since 5 pm but we are not sure if this is when the challenges actually started.

When I tried to access EcoCash using both USSD and the application I couldn’t and I was given different error messages on all the attempts that I made.

We’ve contacted Econet for comment and once we get a response we will update this article.

One of the reasons why interoperability was proposed…

When Supa Mandiwanzira –ICT & Cyber Security Minister- made clear his reasons for wanting interoperability he stressed the point that in the event of downtime there would be a disaster due to the monopoly EcoCash. Though to some this seems far-fetched and some may dismiss is at mere politicking once you think about it closely, a countrywide failure of the service would be disastrous.

A co-worker in TM (Strathaven) today saw people leave their groceries in the shop as their primary method of payment (i.e. EcoCash) was not working.

Now think if this coincided with a deadline for certain payments –think exam fees- and you failed to make a payment just because the method of payment you use is not working. In the event of downtime with EcoCash this would be disastrous because of the number of users they have.

Now get me straight, I am not saying that EcoCash being widely used is necessarily a problem –because they do offer the best mobile money service right now- but due to the monopoly they have on the market in the event that something big does happen we would have to brace ourselves for chaos.

As aforementioned we are yet to get a comment on how big a deal this is and just how widespread it is but when something like this occurs it is a bit worrying and we do hope the disruption isn’t too widespread.

Are you also facing challenges with accessing your EcoCash or making transactions?

Also Read: Supa Mandiwanzira Thinks EcoCash Dominance Could Be Disastrous

The post EcoCash Faces Downtime – Mobile Money Service Has Been Down For A Few Hours Now appeared first on Techzim.

Zimbabwe’s leading mobile money platform, EcoCash was down for a few hours during the day. It seems the service is working again -for me it’s working- and EcoCash also released a statement in relation to the downtime.

The usual

If you’ve read any statement concerning downtimes or outages then you may as well stop reading at this point. If you’re still here, the statement released by EcoCash reads:

Dear Valued Customer

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We apologise for service disruptions you may be experiencing in trying to transact on EcoCash. Our technical team is working to resolve the technical challenge and we will inform you as soon as normal service is restored. We regret any inconvenience caused.

It always seems to be technical challenges when anything goes wrong with these systems. Hopefully the challenges have been resolved for everyone and not just for a fortunate few.

The post EcoCash Acknowledges Downtime, Service Seems to Be Back Up appeared first on Techzim.

People have been facing challenges accessing or transacting through EcoCash since yesterday and though it seemed the situation had been resolved briefly the mobile money service is still not working.

Yesterday the only communication given by EcoCash was:

Dear Valued Customer

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We apologise for service disruptions you may be experiencing in trying to transact on EcoCash. Our technical team is working to resolve the technical challenge and we will inform you as soon as normal service is restored. We regret any inconvenience caused.

Apart from that not much is known as to what the problem actually is.

STOP TRYING TO TRANSACT ON EcoCash FOR NOW

Until EcoCash is fully up again -something EcoCash said they would announce on Twitter- it may be best to stop trying to transact using the platform. Many people have seen their funds disappear during the outage. In shops people have been making transactions that are not reflecting, but balances are still being debited.

Tried do buy data using ecocash last night. I failed after countless trials and my balance was all gone.

— Obert Mashowa (@ObertMashowa) July 3, 2018

I also tried to buy my food using ecocash zvikaramba..the system is down. Econet do something pliz

— LOVELACE KAMBS (@KambsLovelace) July 3, 2018

When Ecocash keeps telling you "system busy" and you're trying to make a critical transaction What's going on guys @EcoCashZW ????

— Miss C (@the_dimpled_one) July 2, 2018

According to a source, some shops have started instructing customers not to use EcoCash as they were emailed by the mobile money service provider who is failing to keep up with complaints of people coming to demand their money.

Obviously it’s a huge inconvenience not to be able to transact especially if you have some critical situations that require those transaction but the process of getting recovering your money is not a particularly pleasant one either.

Also Read: Supa Mandiwanzira Thinks EcoCash Dominance Could Be Disastrous

The post EcoCash Still Not Working: Stop Transacting Via EcoCash Until This Issue Is Resolved appeared first on Techzim.

In the wake of the challenges faced by EcoCash over the last two days, NetOne have not wasted any time pouncing on fed up Econet subscribers.

Fair play?

A disgruntled customer tagged NetOne in their tweet disclosing how fed up they were with Econet:

Hello @assam_kim we welcome you with open arms, please note we can do a number matching of your last 6 digits and you get to join the network that cares with the affordable rates, kindly DM us your mobile number for assistance.^VM

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— NetOne Cellular (@NetOneCellular) July 3, 2018

This wasn’t the only tweet with disgruntled customers wanting to make the switch:

Thank you @Dr_Wabantu please kindly DM us your intended last 6 digits and we will gladly confirm for you and advise.^VM

— NetOne Cellular (@NetOneCellular) July 3, 2018

Hello @AbelDNsingo thank you for the inquiry, may you please kindly DM us your intended number for further assistance, we appreciate the wise move to join the network that cares!^VM

— NetOne Cellular (@NetOneCellular) July 3, 2018

A sentiment shared on Twitter by one person is that NetOne trying to capitalize on EcoCash’s woes is unethical. That was one of the funniest tweet I’ve seen since EcoCash started facing their ‘technical challenges.’ I don’t know why one would be of that thinking, but to me it just seems logical that rival telcos would obviously love to poach subscibers from each other and one of the best way to do so would be capitalizing on poor service by a fellow rival.

Thank you @RobsonChishanga for airing your thoughts with us, however please note we are providing the information as requested for from clients who are more than willing to join our network at their own free will.^VM

— NetOne Cellular (@NetOneCellular) July 3, 2018

Econet are walking down a risky path…

Obviously, this is not an intentional disruption but that doesn’t change the fact that this outage is a massive inconvenience to Zimbabweans.

Many people have continued using Econet regardless of being disgruntled with the cost of data compared to rivals, especially NetOne. The OneFusion offering has meant many users have either bought a second SIM card or have outright abandoned Econet since the data offerings can’t be compared. One of the main reasons why people have stuck to Econet is because of the EcoCash service and the convenience it offered.

It’s a bit worrying when this convenience is stripped away and depending on how bad of a problem this is (EcoCash won’t disclose just how bad the situation is or how widespread) these are the things that get people fed up with services and maybe EcoCash fails to realise how quickly the tide can turn. There has been a short and meaningless communication and their point and when I look at this situation closely, I think this is disrespectful to consumers and subscribers who are the people who put MNOs in positions of power.

l also want my numbers matched , its bout time I go for better services

— Blessing Sando (@blizingsento) July 3, 2018

Tinokutambirai nemufaro mukuru kuno kuNetOne, tofananidza nhare dzenyu (number matching) pa NetOne line, 50 cents chete nechitupa chenyu ku NetOne shop chero ipi zvayo iri pedyo nemi munenge matove pa network ine rudo nemi.^VM

— NetOne Cellular (@NetOneCellular) July 3, 2018

Silence speaks volumes

Econet did not even bother to send customers messages notifying them of the outage (I didn’t get one), which has led to subscribers continuing to attempt transacting even though they run the risk of losing their money and going through multiple loops to get their money back.

I’m sure this silence adds to the frustration of many customers and it would be better if EcoCash were being direct or at least giving timelines as to when this issue will be solved or at least disclosure of what is going on instead of just sticking to the cliché “technical challenges” statement.

What happens when the one reason why many are still subscribed to Econet is no longer as compelling? Time will tell…

Also Read: Supa Mandiwanzira Thinks EcoCash Dominance Could Be Disastrous

The post Ongoing EcoCash Issues Prompt NetOne To Invite Disgruntled Econet Subscribers To Join Their Service appeared first on Techzim.

For the better part of the past two days, EcoCash – which also happens to have the lion’s share of the mobile money market – has not been working as advertised. Some subscribers have not been able to transact or send money on the platform and some businesses have been brought to a halt because of the “technical challenges” being faced by the mobile money service.

Conspiracy theorists…

Due to these troubles, some on Twitter have started calling out EcoCash and there has been a theory being spread:

Since the @Potraz_zw enforced reduction in USSD charges, it has become impossible to complete an @EcoCashZW transaction on one go. I have been trying since 1pm. Now am i being charged for those failed attempts? This is the latest response pic.twitter.com/cstoHCMhal

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— Larry Moyo (@larry_moyo) July 3, 2018

This and other tweets seems to suggest that this outage is due to the fact that POTRAZ recently reduced transaction charges for accessing the USSD platform. I do not believe this is the case and it simply would not make sense for EcoCash to sabotage their own service.

Let’s address the POTRAZ changes

The shift in pricing with regards to USSD  is not as significant as many had thought initially. So when the threshold is being said to have been reduced what does this mean. Well, Econet was charging banks a flat fee for customers to make banking transactions via their USSD platform. Econet are the only telco charging banks for access to their USSD and it is widely believed they were already charging 5c. What this means is that NOTHING has changed on that front for Econet. Yes, POTRAZ reduced the cap from 12.5c to 5c but the problem is no one was being charged 12.5c.

Econet will not be affected by this change and they have no reason to shut down their service to make a point.

Playing with fire

As mentioned in another article yesterday, EcoCash is one reason why many subscribers have not entirely stopped using Econet altogether. The One Fusion data offerings are quite popular and this popularity has meant that people have two SIM cards; one for EcoCash and one for the cheaper data (NetOne usually). It would make ZERO sense for EcoCash to rebel against the new charges by shutting down their system and risk people embracing OneMoney over their own platform.

That would be playing with fire and the backlash we have seen on social media shows that it would be too huge of a gamble to take just to prove a point. Whatever problems that EcoCash is facing are independent of POTRAZ’s ‘reduced’ transaction charges.

Teller: “Your ecocash isn’t responding, shall we try again?” pic.twitter.com/ebhho5IxSd

— tendai (@DIAVANTI_) July 3, 2018

The post EcoCash Isn’t Sabotaging Their Own Service appeared first on Techzim.

The Telecommunications Industry regulator, POTRAZ, has reportedly engaged Econet to seek clarification over the breakdown of their mobile money platform. EcoCash started working again yesterday afternoon after facing “technical challenges” since Monday.

POTRAZ were not too pleased…

The Director General of POTRAZ, Dr Gift Machengete, said:

Our concern is with the consumers getting served properly. The quality of service has got to be of the highest level, so if we have problems with quality of service of this nature it is incumbent upon the regulator to find out why and to take action.

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The Minister of ICT and Cyber Security, Supa Mandiwanzira, also chimed in saying:

The concerns that Zimbabweans are raising demonstrate that Zimbabweans are significantly moving away from cash and they are beginning to use mobile money. Therefore, it means that the mobile money providers must ensure that they are efficient and that they deliver efficiently.

I expected Supa to take this opportunity to site the importance of interoperability. Maybe he felt that it was unnecessary to kick EcoCash when it was already down.

Will RBZ be looking into this?

The RBZ has not yet officially stated their position on the issues surrounding EcoCash but one would also think they will definitely be looking into this outage and the inconvenience it caused.

The way EcoCash dealt with this issue has been less than ideal. They blamed the disruption on technical challenges:

Dear Valued Customer

We apologise for service disruptions you may be experiencing in trying to transact on EcoCash. Our technical team is working to resolve the technical challenge and we will inform you as soon as normal service is restored. We regret any inconvenience caused.

EcoCash doubled down on their apology and released another statement:

Ecocash advises that following scheduled system maintenance work, some customers have been experiencing intemitent transaction challenges.

Our technical teams are working to resolve the challenges as soon as possible.

EcoCash sincerely apologises for the inconvenience caused.

It’s good that they apologised but these apologies didn’t do much to make people less angry. I’m certain more transparency would have bettered the mood surrounding this outage but the transparency that people yearned for was just not forthcoming.

It will be interesting to see what POTRAZ decides to do after they have looked into this situation.

The post POTRAZ Looking Into EcoCash ‘Technical Challenges’ appeared first on Techzim.

Coming to you live from the TelOne Learning Center, the OneMoney Hackathon.

Day 1 of the #Hackathon has begun! @OneMoneyZw @NetOneCellular @TelOneZW https://t.co/529LML067E

— Techzim (@Techzim) July 13, 2018

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The post VIDEO: OneMoney Hackathon Day 1 Session 1. appeared first on Techzim.

The second session of the OneMoney hackathon just started.

Day 1 of the #Hackathon has begun! The Second Session @OneMoneyZw @NetOneCellular @TelOneZW https://t.co/eZUkkpurG5

— Techzim (@Techzim) July 13, 2018

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The post VIDEO: OneMoney Hackathon Day 1 Second session. appeared first on Techzim.

The OneMoney hackathon has been running since yesterday the 13th of July. As of yesterday, a 106 participants have registered and formed 16 teams that will battle it out and present their solutions to a panel of judges tomorrow for a grand prize of $5000 to be given to the winning team as seed capital to develop their idea. The participants have been given a task  to design a solution for OneMoney’s  project on mobile payment systems. The hackathon has attracted participants from all corners of the country with different skills.

Presenters have also graced the camp and presented on different topics. The NetOne CEO Mr Lazarus Muchenje also graced the event and in his short courtesy presentation likened NetOne to a young hot 21 year old instead of the 65 year old some people perceive it to be. Other presenters spoke about, financial inclusion and data science and one presenter gave the participants idea pitching tips. The participants were given more time to brainstorm and perfect their ideas, it was a productive day all together.

Tomorrow will be the presentation day when participants will have to show the judges the solutions they have come up with. Techzim will be live-streaming the event. Make sure by 9:45 AM you are signed into your Twitter, or Facebook so that you can catch this exciting competition. Its a date…

The Hackathon In Pictures

The post 106 Participants Attend OneMoney Hackathon appeared first on Techzim.

If like me you have seen MyCash somewhere but have not bothered much about it thinking.. “They probably don’t have cash anyway and I certainly do not need another debit card’’. But in this day and age it does not hurt to investigate, you may save yourself a significant amount of money.

Here’s what’s great about MyCash

Send money from MyCash to MyCash moble transfer for 25c

Swipe in any TM Pick ‘n’ Pay Store free of charge

Send money to any bank for a flat fee of $1

Swipe using any Zimswitch point of sale (normal charges apply)

Get cash back when you make purchases in a supermarket like a normal debit card

Can I send from Ecocash to MyCash and from MyCash to Ecocash

Ecocash is not yet on the MyCash platform but Telecash is however you can send money from Ecocash to MyCash by sending first to the merchant code 92207  and sending the confirmation message to 0771388826 via app or text

You can also put money from the MyCash to the Ecocash by swiping into Ecocash using your MyCash card

I’ll have to say it’s a little bit of trouble. Hopefully they will sort that out soon

So is it any good?

It seems to me it is just like a debit card which is cheaper for transfers, charging a flat fee of $1 only for all amounts within the limit of $10 000 a transaction and $25 000 a month.  So you will probably save  if you always do bank transfers or you send money to a lot of people or the same person many times. It’s a real big bonus if you usually do your shopping at TM Pick ‘n’ Pay.

Share your experiences

Are you a MyCash customer? How is it going for you?

The post Is MyCash Any Good? appeared first on Techzim.

EcoCash users will likely find an additional reason to use their mobile money service as the Reserve Bank of Zimbabwe (RBZ) is reportedly working with EcoCash to revise down Ecocash’s transaction fees. This is according to Vice President, Constantino Chiwenga. Speaking at Gwanzura Stadium, the Vice President said;

We hear you on the issue of EcoCash rates and we assure you that we are working on it. The money that is being given to pensioners is a very small amount and we want that amount to be increased. We are talking with the Reserve Bank to reduce the rates

The Vice President seemed to have been saying that the prevailing EcoCash charges are eating away pensioners “small amounts” of pensions. While transaction fees could be something pensioners are crying over, rather I think they are crying over the illegal fees of withdrawing cash from Ecocash.

Meanwhile, EcoCash is already (and arbitrarily) planning to reduce planning transactions fees this year. Since reducing the transaction fees was already in Ecocash’s pipeline, I expect that RBZ is consulting Ecocash rather just impose new fees it sees fit. Usually, RBZ consults mobile money platforms, however, it has the ultimate say (which is more or less an imposition) whether the MNO’s agree with its proposals or not.

Although the reduction of transaction fees may hit Ecocash’s top line (revenue), this could possibly be offset by an influx of new customers who will be attracted to the new reduced transaction fees.

Why just EcoCash?

Ecocash is the most used mobile money wallet, with over 8 million Zimbabweans registered on the platform. Hence the reduction of its charges has substantial and widespread impacts. The current crop of pensioners is distrustful of keeping their money with banks because they witnessed (and were affected) by the closure of many banks over a decade ago.  Accordingly, I think many pensioners are using mobile money services, particularly and disproportionately Ecocash. So, the reduction of Ecocash’s transaction charges will somewhat prolong the existence of their already “small amount(s)” of pensions they are earning.

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So the people who use MyCash did not feel I did justice to MyCash in my article. I am always happy to receive feedback especially if it helps others make more informed decisions. Let me highlight what MyCash customers are happy about.

Ability to pay bills

You can pay bills on MyCash. You can pay for Cimas, Zesa, ADSL and Zol

Bank Card and Mobile Wallet all in one

You can transact using your phone and send money just by inserting a phone number. You can also swipe and do bank transactions.

Quick Access to ZIPIT

MyCash allows access to ZIPIT instantly without having to set up any mobile banking

All you need is your id to set up

Getting a MyCash account is simple and is not too much of a hassle. As long as you have your id you are good to go.

No monthly fee

On top of having low charges MyCash of only 25c MyCash to MyCash and $1 for bank transfers it does not any monthly fee.

What about Ecocash Customers?

If you mostly transact using Ecocash then if you switch to MyCash you still have the ability to pay bills and you don’t have to worry about there being no network. It will also be cheaper if the person you are sending to has MyCash as well. Only problem you might have is if the people you mostly deal with strictly want Ecocash.

The way I see it…

Its not enough for you to be convinced to get it but you have to convince others to have it as well for it to be a real benefit. However even if they are not on MyCash it is a cheaper solution for bank transfers. Whether you will save using MyCash is dependent on how often you transact and what the people you transact with use.

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Ecocash agents were shocked to find 10% deducted from their accounts. Some said this was the first time this was happening and accused Ecocash of stealing from them.

Below are messages some of the agents received.

We reached out to Ecocash and this is what they had to say.

Here’s the position:
Agents have always been levied (taxed) a 10% withholding tax, unless they submit a tax clearance certificate.
We pass on the tax to ZIMRA. Those who submit a tax clearance certificate to us take care of their taxes directly with the Zimbabwe Revenue Authority.

However some agents were claiming that they had the tax clearance certificates.

Share your experience

Are you an Ecocash Agent? Has this happened to you too?

The post Ecocash Agents Shocked To See Tax Deductions From Their Commissions, Ecocash Explains appeared first on Techzim.

In April this year NetOne introduced the Fees for less promotion, a promotion that allowed parents to get back a portion of their fees, if they paid the fees using NetOne’s mobile money platform, OneMoney. As noted, at the time, this was a great way to incentivize the use of OneMoney for both schools and parents.

The fees for less promo is back and to be honest I’m not sure if this is because NetOne saw some great benefits from it the last time out, or it’s part of their marketing campaign and corporate social responsibility (which seems to be a primary focus within the MNO). Anyway, for parents looking to pay their children’s school fees, and school’s looking to ‘win big in school development’ as NetOne would say, this is still a very convenient promotion.

Tertiary students can also get in on the action…

Last time around, the promotion was only open to primary and secondary schools, but this time around even University and college students will be getting a chance to win back some of their fees. We are not entirely sure which institutions have registered as we asked a NetOne employee who asked not to be named for a list of the institutions and he said they are still signing up the schools:

We are simultaneously signing them up, even as we opened up the promotion. It’s a way for us to get all the unis and colleges on board.

For university students interested the best thing right now is to ask if your institution is accepting fees via OneMoney.

How to win

• For parents, NetOne is giving back upto $300 if you are part of the first hundred parents to pay school fees using OneMoney.
• For schools, your institution can stand a chance to get your school developed if you are part of the first 50 schools to register on OneMoney in order to start accepting payments through the mobile money financial service.
• For tertiary students, you are required to be the first hundred univeristy or college students to pay fees using OneMoney and you also get back upto $300

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Samsung’s mobile payment and digital wallet service –Samsung Pay- is now available in South Africa, making our neighbour the first African country to have the service enabled. The service was in beta around the beginning of this month

How does it work?

Users just have to download the Samsung Pay app on a compatible device (i.e not all Samsung smartphones) and go through a registration process. At the time of writing the service can only be linked with two banks; Absa and Standard Bank.

Using Samsung Pay will be much more secure than traditional methods of payment as you can authenticate purchases using the fingerprint scanner, IRIS (facial recognition) or a more traditional PIN if that’s your kind of thing.

Samsung Pay works on both magnetic secure transmissions (MST) and near field communication (NFC) point of sales machines. This means that businesses won’t have to revise their entire system in order to enable Samsung Pay users to make transactions. This seamless transition will no doubt ensure that users actually find utility in the availability of Samsung Pay.

Zim’s mobile money providers should also step up

EcoCash, OneMoney and Telecash should step up and offer a similar method of transacting. Phones with fingerprint sensors are no longer a rarity to be honest. Instead of having to type out a PIN every time you transact via mobile money, it would save everyone so much time if they could just approve transactions using their fingerprint scanner.

Even QR codes are a good option. I know that its not everyone who has a smartphone capable of scanning QR codes but the number of people who do is significant enough to warrant some improvements in the way we make payments.

A few months ago, a QR option appeared in EcoCash’s mobile application so this is clearly something they are working on but EcoCash is yet to announce when this will actually hit the market. Hopefully this is made open to the public sooner rather than later…

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It is human nature to assume that one’s experiences are similar to everyone else’s. Living in urban Zimbabwe, it is easy to forget that over two thirds of Zimbabweans live in rural areas and oftentimes their experience living in this country can be worlds apart from their urban counterparts’. For instance, access to electricity in the rural areas is around 19% whilst it’s about 80% in the urban areas.

That right there makes one pause and wonder. Here in the urban areas we are so used to different technologies that have eased our lives and yet most Zimbabweans are in the dark, literally. However, some of the technologies have made lives easier for the ruralites. As payment and remittance services have improved, more and more ruralites are getting access to them and receiving financial assistance from the urbanites easily.

Even in the urban areas, you can see how far we have come when you see the elderly fumbling with their phones, trying to pay for groceries in a supermarket. The transition to these electronic payment methods was not by choice but we have all been forced to accept them. We are not entirely happy with this scenario because of the high charges we have to pay for the priviledge to use these new payment methods.

It is the cash shortages that keep us using the more expensive electronic payment methods. Although using cash is less convenient, most of us would choose that route because of the charges. The cash shortages have proved to be a blessing in disguise for banks as we have noted and it has to be acknowledged that business would have ground to a halt had it not been for the improvements and innovations made in the payments sector.

We are impressed by the progress that has been made in the payments sector. Perhaps if we understood better how the payments sector is set up and the challenges they face, we could better swallow the regular system failures and the high charges. Some of us could come up with their own solutions to challenge the established players as there is room for improvement as you will see.

The Payments Sector in Zimbabwe

Techzim Insights prepared a report on the payments sector in Zimbabwe for just that reason. In the report we explore what the payments sector looks like, considering both the essential players as well as the non-essential. We will seek to understand how payments are being made in the country and see where the opportunity for innovation is – both for private payment service providers and regulation.

We start in the beginning, looking at the history of the sector, the major events that shaped the sector and end by looking at the challenges being faced by the payment service providers and where the room for improvement is.

The Payments Systems Environment in Zimbabwe report is available for sale. If you require a different payment method to acquire the report, send an email to: insights@techzim.co.zw and we will assist you.

Buy the The Payments Systems Environment In Zimbabwe Report now for US$4.99 ONLY using EcoCash.

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