Econet Wireless has introduced a tap and pay service on its mobile money debit card for small point of sale as it expands its EcoCash service portfolio.
Zimbabwe is making strides in the mobile money industry. Other notable adopters of mobile money include Kenya and Tanzania. The EcoCash mobile money platform, run by Econet Wireless, now has more than 3 million registered users, according to the company.
Econet Services chief executive officer, Jimmy Shindi, said on Monday that this was in line with trends in developed economies that have adopted cashless transactions riding on mobile money, credit and debit cards.
"Zimbabwe now has the same cashless infrastructure in place as the most advanced economies in the world," he said.
The company said the "contactless tap and pay (service) means that for transactions under $5 for up to a daily cap of $100, a person no longer has to enter a PIN number on a Point of Sale terminal".
Purchasers only "need ... to tap the machine and payment is recognised," said a process official at the company who added that the system will eliminate long queues.
The EcoCash Card is directly linked onto the user's EcoCash mobile money wallet. Additionally, cardholders have the option to link it up with their bank accounts, Econet Wireless explained.
The company has already lined up retailers and fast food operators such as OK Zimbabwe, TM, Pick n Pay and Spar as well as Chicken Inn and Nando's counters.
On Monday and Tuesday this week Econet held an expo dubbed Beyond the Phone where it showcased its value added services and product portfolios as it seeks a bigger share of the Zimbabwean mobile and related services industry.
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