Cassava Smartech subsidiary EcoCash has launched the
EcoCash bureau de change after being granted a licence by the Reserve Bank of
Zimbabwe (RBZ).
The service allows customers to conveniently convert their
United States (US) dollar nostro from their foreign currency account (FCA)
wallets to their RTGS wallets via USSD in real time.
Dubbed ‘smart change money’, the bureau de change service
also allows one to check the prevailing exchange rate through dialing *150#. At
the time of the launch yesterday the exchange rate stood at ZWL$10,80 to the US
dollar.
The innovation enters the market at a time when numerous
customers have been short-changed of their hard-earned foreign currency through
paying premiums on the parallel market.
Addressing partakers at the launch, EcoCash general manager
Natalie Jabangwe said the move was necessitated by the need to protect the
transacting public from high premiums on the parallel market to as much as 30
percent.
She said the service undoubtedly guarantees safety and
convenience at any time.
“We have launched an electronic bureau de change on cellphone
where you don’t need to pay premiums to access the service you can now do it
alone.
“The application guarantees safety and security,
conveniently change your money 24/7, the service will be at prevailing
interbank rate which is very competitive,” said Mrs Jabangwe.
Present at the launch, RBZ’s acting exchange control
director Obvious Runesu said the central bank had hitherto licensed over 200
bureau de changes across the country while more applications were still
trickling in.
He emphasised the need for fairness and serious protection
of the public’s money whose significant chunk are remittances.
“As Reserve Bank now we have licensed quite a number of
bureau de changes, I can safely say we have about 200 branches dotted around
the country it is quite a big figure and we continue to see applications of the
service and we continue to license them.
“As a regulator we applaud EcoCash for taking their place
in the bureau de change market, one would say they were almost late but that
has been a good move, I think the market has been waiting for you.
“We urge EcoCash to be fair and protect your customers.
Let’s not forget that the EcoCash FCA wallet is mainly funded from
remittances,” said Mr Runesu.
EcoCash, which now controls over 95 percent of the mobile
money market and the bulk of electronic payments, was launched in 2011 by
Econet Wireless Zimbabwe, 2014 EcoCash debit and virtual card 2017 EcoCash Rand
wallet 2018 EcoCash FCA wallet.
It has since frog jumped into 200 countries including South
Africa, USA, Namibia, Tanzania, Democratic Republic of Congo, Malawi, China,
India, Kenya and Lesotho. Herald
0 comments:
Post a Comment