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Econet Wireless chief executive officer Mr Douglas Mboweni

Kiyapili Sibanda, Business Reporter
ECONET Wireless has cut its EcoCash tariffs on all merchant payments by up to 50 percent with immediate effect.

The mobile operator said in a statement the reduction is aimed at further providing ease and convenience of transacting using EcoCash, which has become the most used platform to transact in the country owing to the current cash shortage.

The reduction of EcoCash merchant tariffs will see customers charged transaction fees as low as $0.01 for purchases from $1.00.

Econet Wireless chief executive officer, Mr Douglas Mboweni, said their desire was to transform society through the use of technology and to give convenience, security as well as affordability to buy goods and services without the worry of accessing cash.

“We are inspired to transform lives of our customers through the use of technology. In view of liquidity challenges, EcoCash continues to give our customers the convenience, security, as well as affordability to buy goods and services without the worry of accessing  cash.

“Our vision is to see a situation where our customers can buy literally everything using EcoCash from payment of utility bills, hospital bills, purchase of groceries, fuel, school fees, and at vendors’ markets. I am grateful that we are already moving in that transition and importantly are thankful to our regulators and customers for the support that they continue giving us in seeing to it that we attain a truly cashless society,” he said.

EcoCash general manager, Ms Natalie Jabangwe-Morris, paid tribute to customers for their continued support saying the reduction in merchant fees is part of the vision to continue giving customers value for their money.

The reduction of merchant fees by Ecocash comes at a time when customers are increasingly using their mobile wallets to transact through merchant payment solutions and this increase in cashless transactions aligns with the current cash shortages in the market.

@Kiyaz_Cool