Ecocash Mastercard Debit Card A Game Changer

Econet have launched what we think is a game changer in as far as mobile money services are concerned.

It is a debit card that partners with Mastercard opening up a new range of possibilities for customers.

We’re saying a new range really because with Mastercard eCommerce becomes an actual possibility. It means you will be able to make the sort of purchases that were not seemingly possible before because of various limitations caused by the isolation of Zimbabwe as a market for products.  it also means local service providers will be able to offer merchant services they couldn’t before. In essance you can now set up Mastercard on your website as a payment option.

It will use the very secure EMV Chip and PIN technology. It will use your Ecocash wallet as to access money for payment.

And of course we will rely less on cash. That is a boss status.

It costs $2 get one and charges for transactions will range between 30 cents and $2.45. It is available from selected Ecocash agents –  about 700 of them –  and Steward Bank branches.

Three million cards will be issued over the next five years apparently. It is the fist time physical Mastercard debit cards have been issued to mobile money service users in Africa.

We’re excited.

Here is the press release

 

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