New Zimbabwe.com

Telecel scraps mobile money transfer charges

THE country’s second largest mobile telecoms firm, Telecel, has scrapped charges for sending cash on its mobile money platform Telecash, as it bids to grow its market share in the increasingly competitive sub-sector.
“Customers can now send money for free to other registered Telecash subscribers, following a revision of charges that came into effect last Friday, 22 August 2014,” the company said in a statement on Monday.
The company said there was no limit to the amount being sent within the same network adding that deposits into the platform account would not attract any charges.
Registered customers who receive money via Telecash pay a cash out fee ranging from 10 cents to $4,90 for an amount of between $400,01 and $500, including tax.
The cost of sending money to persons not registered as Telecash subscribers varies from 10 cents for sending two dollars or less to $5,40 for sending from between $400,01 and $500, including tax.
“However, the recipient non-Telecash customer pays nothing to cash out the money from a Telecash agent,” read the statement.
Since inception of the money transfer platform seven months ago, the company has moved over $17 million.
Telecel launched its mobile platform to rival Ecocash and One Wallet launched earlier by its peers Econet and NetOne.
Recently, the company launched a gold card backed by CBZ Bank and connected to ZimSwitch, to enable users to swipe at point of sale machines and make withdrawals at any automated teller machines on the platform.
Over 600,000 of Telecel’s 2.3 million subscribers use the mobile money platform while the number of agents who offer services to deposit or withdraw money through Telecash has more than doubled to 3,600 agents.Advertisement