EcoCash reports 80 percent revenue growth , launches innovative digital solutions

Business Writer

EcoCash, Zimbabwe’s leading financial technology platform, recorded an 80percent increase in revenue for the quarter ending 30 November 2024, compared to the previous quarter.
This growth reflects the company’s continued focus on leveraging technology to enhance operational efficiencies.

In a trading update for the third quarter, EcoCash confirmed compliance with Tier 1 Capital requirements as mandated by the Reserve Bank of Zimbabwe.

The company said
it remains committed to identifying and developing market opportunities aligned with its mission to provide convenient digital solutions that meet growing customer demands.

“The organisation will continue to adapt to changes in the operating environment and implement strategies to create shareholder value and maximise returns,” the company said in its statement.

During the review period, EcoCash introduced an innovative Omni-Channel platform, a unified and secure digital system designed to enhance customer experience and improve security. The platform integrates essential banking services such as account and card management, bill payments, and fund transfers.

The company also launched a new ZIPIT Fund Transfers service, enabling customers to transfer funds from any Foreign Currency Account or mobile wallet directly to their Steward Bank VISA card via the ZIPIT platform.

Additionally, EcoCash implemented cardless withdrawal and deposit services through its ATMs, offering customers greater convenience and flexibility in conducting transactions.

EcoCash’s integration with all Zimbabwean banks now allows users with both an EcoCash wallet and a bank account to seamlessly transfer funds between the two platforms. This feature enables customers to manage their finances securely from their mobile devices, eliminating the need for physical cash or lengthy queues at ATMs and bank branches.

 

 

 

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