Econet Wireless and Mahindra Comviva have won the “Best Mobile Payment Solution” award under “The Connected Life Awards” at the ongoing Mobile World Congress taking place in Barcelona Spain.
They beat the following contenders in the same category:
- Mahindra Comviva for mobiquity® Wallet Hybrid HCE solution
- Telenor Pakistan for Easypay
- Tigo Rwanda for Tigo cash digital payment solution
- Vodafone, Carta Worldwide & Raphael’s & Sons for Vodafone Wallet
According to GSMA, “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.”
“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.”
