After decade of hyperinflation and currency-collapse, Zimbabwe switched to US$. Currency change mitigated economic-crisis, but led to cash crunch and change problem. EcoCash was introduced in November 2011 to eliminate cash by enabling digital payments using a mobile wallet.
To realize ‘cashless-Zimbabwe’ vision, EcoCash follows “break-the-cash-cycle” approach aimed at digitizing all cash transactions.
In just 5 years, EcoCash has become the leading digital payments service in Zimbabwe with over 6.5 million subscribers and 30,000 agents. The success of EcoCash is based on its ability to add innovative services every year.
EcoCash has a wide mobile money service portfolio including P2P transfers, international remittance, bill payments, NFC-based merchant payments, MasterCard Companion Card, Savings, Loans, insurance and Savings Club. EcoCash is offered by Zimbabwe’s largest operator Econet Wireless and powered by Mahindra Comviva’s mobiquity® Money platform.
The list of all 2017 winners – download here
Source: globalmobileawards.com
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
