Zimbabwe second largest mobile operator, Telecel ZImbabwe, has on Wednesday unveiled its own mobile money transfer Telecash to rival Econet's EcoCash.

Telecash runs on the USSD platform and has been integrated on the Zimswitch platform, which operationally interlinks all banks in Zimbabwe.

The company said it was starting off with 1,600 agents countrywide.

"We have focused on where people are. We have come up with a well developed and well enhanced mobile money platform," said Nkosinathi Ncube, who is mobile financial services director for Telecel Zimbabwe.

Meanwhile, AfrAsia Bank's managing director, Tineyi Mawocha, said the bank is happy to see the service launch..

"We can reach every member of society through Telecash. All the banks have been included and its not an exclusive service,” said Mawocha.

Telecel is anticipating that by the end of the first six months it could register 1.6 million subscribers on the new mobile money platform. This accounts for about 60% of its total subscriber base of 2.5 million.