EcoCash

As Zimbabwe and the rest of the world battle the Covid-19 pandemic, EcoCash has moved to remove all processing fees for cash transfers designated as Covid-19 relief funds.
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A former Cassava Smartech merchant account manager appeared at the Harare Magistrates’ Court on Thursday for stealing a merchant number before he was discharged from work and used it for his personal Ecocash transactions.
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Econet’s mobile money service, EcoCash, has admitted that it is still battling to clear a backlog of transactions following a recent upgrade exercise that disrupted normal service.
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The Confederation of Zimbabwe Retailers (CZR) says mobile money transactions have in the last few days declined to below 10 percent in the retail sector largely due to depressed EcoCash services.
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EcoCash yesterday said most of its critical services are now stable and back to normal, with customers now able to carry out transactions on the EcoCash platform without many challenges.
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EcoCash services remained intermittent or non-available yesterday, causing major business losses and much hardship since the platform handles 85 percent of Zimbabwe’s transactions and 99 percent of mobile money transfers.
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Police have arrested five people believed to be part of a syndicate that has been fraudulently buying groceries using forged Ecocash messages.
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CASSAVA Smartech Zimbabwe Limited has approached the High Court seeking to nullify the Reserve Bank of Zimbabwe’s directive to shut down its EcoCash cash-in and cash-out facilities, saying the move was unlawful.
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By Paddington Masamha Cash barons have become the state’s leading nemesis. In Zimbabwe cash is being commoditized and traded. Corporates and individuals holding on to mainly physical bond notes (which morphed into ZIM dollars, ZWL$),…
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The country’s largest payment platform, EcoCash, has suspended over 4 000 of its agents on allegations of participating in the now rampant trend of charging excessive premiums for customers intending to cash out their mobile money.
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