EcoCash Launches Wallet For Children Called "EcoCash Junior Wallet"

EcoCash Holdings has launched “EcoCash Junior Wallet”, a mobile wallet for children between 9 and 18 years of age.

Speaking at the launch of the service in Harare on Friday, EcoCash Holdings chief executive officer, Eddie Chibi said only parents and guardians are allowed to register and fund the wallet on behalf of children from their wallets. He said:

This way, parents have control of re-setting pins and keep track of transactions made by the child.

The idea is to enable children to take charge of their own pocket money and savings with the help of their parents and, in the process, nurture in them financial stewardship and discipline at an early age.

Chibi added that teens and younger children can use the EcoCash Junior Wallet to buy goods online and in-store, buy airtime, as well as conduct peer-to-peer transfers.

He said the wallet can be funded with either Zimbabwe dollars or United States dollars through cash-in, peer-to-peer transfers or via bank-to-wallet transfers from the guardian or parent.

EcoCash chief operating officer Munyaradzi Nhamo said that the Junior Wallet transaction limits for payments are ZW$35 000 per/day and ZW$240 000 per month, and up to US$175/day and US$700/month on the USD wallet.

To register for the EcoCash Junior Wallet, parents or guardians need to dial *151# (for ZWL wallet) or *153# (for USD wallet), select option 5 – Junior Wallet, then enter child information, including first name, last name, date of birth, identification number and phone number.

They then confirm registration details, and the child will be activated.

Parents or guardians will still be required to attach the KYC documents of the child on a web portal, accessible on https://selfcare.ecocash.co.zw for the account to remain active. | The Herald