New SA-to-Zim cash transfer scheme launched

Ecocash world cashBy GIFT NDOLWANE

JOHANNESBURG, (CAJ News) – ZIMBABWEANS living in South Africa and their families back home have received a major boost after an international money transfer brand partnered with a bank to enable safe and faster
transfers to Zimbabwe.

MoneyGram announced the partnership with Standard Bank culminating in the launch of Direct Send to transfer money into the Ecocash wallet offering in Zimbabwe.

Herve Chomel, Vice President of MoneyGram, detailed the convenience for customers in sending money from Standard Bank to recipients’ mobile wallets as well as the convenience in receiving from the over 20 000
EcoCash locations in Zimbabwe.

“One of the biggest changes in Africa over the last decade is the growth of mobile telephony. Mobile wallets have been used as a means of savings and payments,” said Chomel.

The sender does not need to be a Standard Bank account holder however with EcoCash in Zimbabwe, the receiver of the transaction has to be a registered EcoCash customer otherwise their transaction would be rejected.

Arno Von Helden, Head of Trade and Forex Product, Standard Bank Business & Commercial Banking expressed excitement at the new mobile walletwhich is available in Africa in only two other countries, Kenya Mpesa and
Tanzania Mpesa.

Viveka Govender, Senior Operations Manager for Mobile and Self Service Channels at MoneyGram, said Econet had approximately 4 million active wallet holders in Zimbabwe and this service offers our customers more choices in how their receiver collects remittance. There are between 1,5 million and 2 million Zimbabweans living in South Africa. These regularly send money back home.

Govender stated the product offering will be extended to Standard Bank 167 branches across South Africa.

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Posted by on Oct 23 2015. Filed under Africa & World, Finance, Finance & Banking, National, Regional, Technology. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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