EcoCash slashes merchant fees by 50 percent

Econet Wireless CEO Douglas Mboweni

ECONET Wireless has reduced EcoCash tariffs on all merchant payments by up to 50 percent with immediate effect.

The reduction is aimed at further providing ease and convenience of transacting using EcoCash, which has become the most used platform to transact in Zimbabwe 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, Douglas Mboweni said the company was 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, urchase of groceries, fuel, school fees, and at vendors’ markets,” he said.

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

General Manager for EcoCash Natalie Jabangwe-Morris said the company’s ‘Zero Fees Thursdays’ where they were not charging their customers merchant fees ended on June 30 and the reduction of Merchant fees today was part of the mobile telecommunication’s vision to continue giving its customers value for their money.

“We are excited that the reduction of EcoCash merchant charges is also coming at a time when we are reaching the culmination phase of the EcoCash Chakachaya/ Ziyawa Promotion running until end of July 2017. Our customers can still continue enjoying hassle free transacting at reduced transaction costs at all merchants nationwide and earn points to enter the Chaka-Chaya neEcoCash Promotion,” she said.