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.
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„For more than a week now, ScoreRise enrolls daily hundreds of users through an innovative facial recognition interface. Enrollment takes less than a minute and it does not require presence of a human operator or video recording. And, of course, it stays fully GDPR compliant with help from Reff & Associates and Deloitte Romania.”