Munyaradzi Musiiwa, Midlands Correspondent
THE Reserve Bank of Zimbabwe (RBZ) has granted mobile phone operator, Telecel Zimbabwe, the green light to receive incoming international remittances directly into its subscribers’ Telecash wallets.
Telecel will be working with Mukuru.com, a money transfer agent, to immediately avail the service to its customers while plans are at an advanced stage to also include Western Union.
The move is expected to enhance easy transfer of money home from the Diaspora community.
“This new international remittance licence will have a huge impact on the convenience our Telecash subscribers experience while receiving money from outside our borders,” Telecel head of mobile financial services Arthur Matsaudza said.
“The licence to receive incoming international remittances has been granted to us following Telecel’s compliance with the strict regulations and requirements that are in place to ensure the security of depositors’ funds and to prevent financial crimes like money laundering.”
Already, Telecel and Mukuru.com have integrated their systems so that Diaspora funds can be accessed instantly when they are deposited by the sender.
Mukuru is currently available in South Africa and the United Kingdom.
Telecel said its Telecash subscriber base has breached the one million mark as more people prefer the mobile money route as opposed to conventional banking.
The integration of Telecash and Mukuru systems means that people sending money from across the border can initiate payment from outside Zimbabwe by simply providing a Telecel subscriber’s Telecash registered mobile number and the money will be deposited instantly and directly into the receiver’s mobile wallet.
“We urge people to register their Telecel numbers on the Telecash platform to be able to enjoy this instant service,” said Matsaudza.
Telecel CEO, Angeline Vere, said their vision was to leverage on strategic partnerships that help improve mobile financial services.
“We’re in talks with various international remittance partners with key corridors in SA, Botswana, UK, Australia and the US amongst other potential countries. We’re confident these partnerships will change the overall mobile financial service experience our customers will have on our Telecash platform,” she said.