News Column

Telecel Introduces Debit Card

July 17, 2014



Telecel Zimbabwe has become the first mobile phone operator to issue debit cards for its Telecash subscribers after it introduced a debit card which can be used to pay for goods or for withdrawals.

The card can be used to pay for groceries, DSTV subscriptions, restaurant and hotel bills and can also be used to withdraw cash at ZimSwitch branded Automated Teller Machines.

This give Telecash subscribers access to the more than 5 000 ZimSwitch points of sale across the country.

Speaking at the launch of the gold card, Telecel mobile financial services director Mr Nkosinathi Ncube said the card will bring convenience to its users. The mobile network operator has partnered CBZ, ZimSwitch and Afriasia for the service.

"Mobile money has been struggling to make a mark in retail. We have consulted widely with banks and retail operators and have come up with the Telecash gold card.

"The Telecash gold card is convenient. It can be used to make payments in the same way as a bank debit card at any point of sale with a ZimSwitch logo or to draw cash from any ZimSwitch branded ATM," he said.

Mr Ncube said Telecel wants to broaden financial inclusion in Zimbabwe through ensuring that people get to use the debit cards and are able to withdraw money from automated teller machines.

"People should be able to withdraw the money they receive on Telecash from ATMs and not always revolve around cash but swipe card and receive goods," he said.

Telecash was introduced early this year and officials have revealed that $17 million has been transacted via the system to date.

This Telecash gold card integration is the second integration phase between Telecash and ZimSwitch.

Telecash integrated to ZimSwitch for the ZIPIT functionality where funds can be transferred instantly from any Telecash wallet to any ZIPIT certified bank account (Wallet-to-Bank) or from any ZIPIT certified bank account to any Telecash wallet (Bank to Wallet).

Banked individuals can now send funds instantly to any Telecash account from any of the existing delivery channels already available in Zimbabwe including ATM, Mobile Banking and Internet.

Telecel IT director Mr Tendai Chirongote said his company has also decided to open up the Telecash system for full integration with banks in the country.


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: AllAfrica


Story Tools






HispanicBusiness.com Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters