EcoCash transactions will now be free, so says Econet. According to TechZim, this is being effected for merchant payments that are made via the conventional USSD channels or through the EcoCash mobile app. Payments made via the EcoCash debit card will still attract normal charges.
However, transactions will still attract the statutory government mobile money transaction fee of 5 cents
TechZim says that EcoCash calls this development a “special thank you” as the mobile money service positions itself to be a primary solution for all payments.
Will this be a permanent feature or temporary? In as much as it seeks to position itself as the primary solution, it will definitely affect its revenues.
EcoCash is one of the bright arrows in Econet’s quiver as it delivered a 19% increase in revenue over last year even as the company recorded a dismal performance in its financial results.
However Econet had already said that its mobile money volumes would be affected by the current cash shortage experienced in the country. EcoCash is currently trying to ensure cash availability across its extensive agent network.
