Western Union Enters Zimbabwe
Global money transfer giant Western Union (WU) is now handling Zimbabwean transactions as rivalry to hit the unbanked monies deepens in the troubled southern African country.
This comes as an influx of various money transfer platforms are being launched by mobile network companies such as Econet Zimbabwe’s Ecocash and Netone's wallet.
Zimbabwe Stock Exchange-listed supermarket chain Ok Zimbabwe also recently acquired a mobile money transfer license. Similar to other transfer platforms on the market, WU enables locals to send and receive money within Zimbabwe without the need of a bank account.
WU is a provider of money transfer services in the world with one of the largest distribution networks in Africa. It originally offered international transfer services only in Zimbabwe.
On Friday, WU said the requirements to send money are a sender’s name, the sending city/town of origin, money transfer control number and the amount sent. A receiver is able to access money within minutes of sending and is subject to agent locations. People sending between $25 and $50 pay a $2 commission, while $3 will be charged for sending $51-$100.
Amounts above $150 attract a four percent charge. WU local agents include Kingdom Bank’s Microking, Easy Link and POSB among others.
Following a crisis in the country’s banking sector and subsequent dollarisation of the economy, Zimbabweans have avoided formal financial services with over $2 billion estimated to be unbanked.
Zimbabwe’s Daily News quoted Gideon Gono, the governor of the Reserve Bank in Zimbabwe, as saying Zimbabwe’s level of financial inclusion — the proportion of the population using financial products and services, both formal and informal — is very low.
- Global mobile financial services technology provider.
- A complete mobile money solution for mobile money providers in emerging markets.
- Serves both mobile and e-payment needs in the Nigerian market place.
- splash is Sierra Leoneís first mobile payment system.
- Teasy is an innovative Nigerian based mobile payment company
- EASY, INSTANT and CONVENIENT way of sending cash at ANYTIME, ANYWHERE, to ANYONE on ANY NETWORK
- Stanbic MobileMoney Agent at Shoprite
- Stanbic MobileMoney Stand at Shoprite
- Visit to Management of Comviva,India
- Agency field work with FortisMM, Ibadan
- Agency activities with FortisMobile,Ibadan
- EazyMoney Agent training, Lagos state
- EazyMoney Agent training, Oyo State.
- EazyMoney Agency Training, Edo State
- EazyMoney Agent Training
- Group visit to Tigocash,Ghana
- TigoCash Agent branding stand, Accra
- TigoCash Agent outlet, Accra
- Tariff Table, TigoCash Ghana.
- Field work in Enugu State.
- Agent in Enugu State.
- Agency Field work in East of Nigeria.
- Merchant ID
- Splash MobileMoney Call Center Team
- Agent group Training, Lagos
- Agent group training, Lagos
- Splash MobileMoney, Sierra Leone
- Visit to Splash MobileMoney, Sierra Leone.