Lendtech

EcoCash Inks Deal with TransferTo for Mobile Money Transfer in Zimbabwe

EcoCash, the leading Zimbabwe mobile payment solution, has partnered with leading B2B cross-border mobile payments network TransferTo. In a deal brokered by Cassava International, the Fintech arm for the Econet Wireless Group, Zimbabweans living and working away from home can now send money directly to their friends’ and families’ EcoCash mobile wallets.

Econet Wireless CEO Douglas Mboweni said: “The importance of remittances to the development of our country cannot be over emphasised. With this partnership, we are bringing convenience and choice to Zimbabweans living in South Africa to send money home. TransferTo’s cross-border payments network is connecting Mama Money South Africa remittances to EcoCash in Zimbabwe. EcoCash customers in Zimbabwe can receive money directly into their EcoCash wallets to pay for bills, goods and other services without having to travel long distances to access their money.”

South Africa, the USA and the UK represent the top remittance corridors to Zimbabwe. Additional partnerships will be gradually announced in 2017.

Eric Barbier, CEO of TransferTo, says, “Now more than ever, Zimbabwe needs to digitise money and use mobile money to buy and pay, send, and receive. Sending money home to your families and loved ones should be as simple as an SMS. Zimbabweans working and living overseas can now send money to their loved ones cheaply, securely and immediately into EcoCash wallets.”

EcoCash General Manager Natalie Jabangwe added, “EcoCash is Zimbabwe’s leading payment solution. By innovating and partnering in mobile financial services, we have been able to answer Zimbabwe’s needs in extending financial inclusion, digitising cash and bridging cross-border payments.”