ECONET Wireless Zimbabwe’s mobile money transfer service, EcoCash, has launched a wages and salaries distribution platform mainly targeting small companies.
Dubbed EcoCash Payroll, the system, which is accessible to companies free of charge, allows firms to distribute salaries to their workforce without the risks of moving around with huge sums of money.
EcoCash currently has over three million subscribers.
Chief executive officer Cuthbert Tembedza said the platform would make salary distribution easier, safer and efficient for many companies.
“It reduces man hour losses when people have to go to the bank to get their salaries which is a problem at most companies,” he said.
Getting salaries through the EcoCash Payroll also allows workers easy access to their funds as the money can be withdrawn through the over 9,000 EcoCash agents around the country.
“EcoCash is also safe and secure as it is the only wallet that you can lose but without losing your money,” Tembedza said.
He said the company, together with employees and workers, could work out an arrangement to provide affordable mobile phones for workers who do not own cellphones, which are the medium through which EcoCash transactions were conducted.
Tembedza said the system also reduces costs for companies as they do not have to hire security services when transporting money for salaries.
A Harare company recently lost over $100,000 to robbers which was being transported to pay workers.
Tembedza said it would eliminate the challenge that many companies face where salaries were delayed due to absence of people responsible for their administration.
Using the EcoCash Payroll, companies are able to distribute salaries on set dates as long as the wallet on EcoCash has the funds to meet the payments.
A number of companies and institutions which include the Food and Agriculture Organisation (FAO), fertiliser producer Windmill, Harare City Council, medical aid society Cimas and the Cotton Company of Zimbabwe were already using the EcoCash Payroll system. – New Ziana.