ECOCASH Wins Global 2019 Digital Wallet Innovation Award
Largest mobile phone-based money transfer, financing and microfinancing service, ECOCASH, has been awarded the 2019 digital wallet innovation award in the “Market Adoption” category.
The awards were held at the Mobile Payment Conference in Chicago, US by AITE Group, a global research and advisory firm, to recognise innovation achieved by digital wallet providers.
Winners were selected by a global panel of five external experts on digital payments and wallets.
Launched in 2011, EcoCash now has over 9,8 million registered customers facilitating financial inclusion for 90% of Zimbabwe’s adult population.
The subsidiary of Strive Masiyiwa’s Econet Wireless has digitised various financial transactions in Zimbabwe, ranging from domestic and international remittances and merchant payments to savings and loans.
Over 80% of Zimbabwe’s national payment volume is processed through EcoCash thereby creating overreliance on the operator.
The extent to which Ecocash is fully entrenched in the system was recognised when the platform malfunctioned not so many weeks ago.
Cassava Smartech Zimbabwe chief executive officer, Eddie Chibi said that they will continuously improve Ecocash so as to continuously speak to contemporary challenges.
More: News Day
