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Companies can now pay wages via EcoCash
17/12/2013 00:00:00
by Business Reporter
 
EcoCash launches payroll service ... Darlington Mandivenga
 
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ECONET wireless Zimbabwe last week launched a payroll service through its mobile money EcoCash platform, allowing employers to pay salaries via workers’ mobile phones.

The development will ease the impact of cash shortages that have seen depositors struggle to get their money from banks.

EcoCash chief executive Cuthbert Tembedza said the facility offers security, cost savings, convenience and efficiency to the payer.

“To the payee it offers security, cost and time savings, convenience and the money can be used to pay bills, groceries, savings and so much more,” he said.

The service has been necessitated by the need to tighten security of cash-in-transit and to accommodate workers with no bank accounts

Recently robbers got away with salaries of about US$150,000 meant for Border Timbers workers.

The platform is expected to remove the risk associated with employers carrying large sums of money to pay their staff and reduced production as they process their salaries.

Econet Services CEO Darlington Mandivenga said: “The model of EcoCash is simple; we go where the need is, and help is the smallest. There is a massive need in our market for the service that EcoCash offers.”

Under the service which is available to companies for free, funds paid by the employer are credited directly into the beneficiary’s EcoCash accounts, which means employees will not have to queue banks to withdraw their salaries.

Companies such as the Zimbabwe Fertiliser Company, the Cotton Company of Zimbabwe, CIMAS as well as local authorities and national parks are already using bulk payments via EcoCash Payroll for their workers and customers.



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