Econet Wireless and Mahindra Comviva are debuting the latter’s connectMoney Service Manager in Zimbabwe.
As a part of the first live deployment of the solution, Econet Wireless has issued MasterCard debit cards which are linked to the EcoCash Wallet. This is the largest rollout of secure EMV Chip and PIN payment cards in Zimbabwe, and is also the first time that MasterCard debit cards have been made available to consumers using mobile money services in Africa.
connectMoney Service Manager creates an industry benchmark for mobile money by connecting financial open systems powered by MasterCard and other card networks. EcoCash account holders will receive MasterCard debit cards allowing users to transact at POS terminals and also to withdraw cash via ATM machines accepting MasterCard, locally and internationally.
The solution also offers virtual cards on request. The virtual card number is delivered through an SMS, which is accepted for payments across all e-commerce websites. The virtual card is directly connected to the mobile money account of the subscriber.
Srinivas Nidugondi, Senior VP and Head Mobile Financial Solutions, Mahindra Comviva said: “Electronic payments acceptance is crucial to the Zimbabwean economy. It is imperative to provide convenient and integrated solutions to the consumers. connectMoney Service Manager will provide seamless interoperability with heterogeneous systems and services.”
Japhet Aritho, Chief Operating Officer, EcoCash said: “This unique offering provides additional choice to consumers across Zimbabwe. This will further accelerate adoption of electronic payments in the country thus promoting the national agenda of a cashless society, as well as provide our customers with convenience for global transactions.”