MARCH 122014 NAMIBIAN SOME Namibian companies involved in electronic money emoney operations allege that MTC Money has an unfair advantage and claim that its use goes against the countrys competition law MTC Money which was launched last month is a product owned by the mobile operator MTC and the electronic payment systems company MobiPay There are about five primary electronic systems payment providers in Namibia while the rest about 15 of them are subcontractors Company officials who refused to speak on record because they use MTC for their mobile services say the Bank of Namibia the Namibian Competition Commission NaCC and the...[...read more]
THE HERALD March 052014 ECONET Wireless Zimbabwe could have lost its bid to bar Ecocash agents from doubling up as agents for rival mobile money transfer service telecash being offered by Telecel Zimbabwe This comes after the Reserve Bank of Zimbabwe said any agent may offer services to multiple payment system providers provided that the agent has separate contracts for the provision of such services with each institution and the agent has the capacity to manage the transactions for the different payment system providers But where a payment system provider requires entering into exclusive arrangements with an agent the provider shall ...[...read more]
MARCH 032014 NEW ZIMBABWE THE central bank has moved to end the raging turf war between emoney transfer service providers Ecocash and Telecash after it emerged the former was barring its agents from working with the new comers Ecocash a subsidiary of the countrys largest telecoms company Econet Wireless Zimbabwe launched 2011 and has amassed a rich base of 7000 agents The facility is credited with capturing Zimbabwes largely unbanked but economically active population Rival mobile phone firm Telecel has since launched its own product Telecash taking off with 1600 agents already registered during launch while offering a more refined p...[...read more]
MARCH 032014 THE NAMIBIAN THE recently launched electronic payment MTC Money a joint venture between MTC and MobiPay is operating without a banking licence Neither MobiPay nor MTC have a banking licence in the technical sense MobiPay however has a Mobile Payment Issuer licence issued by the Bank of Namibia This is the licence being used by MTC Money MTC spokesman Tim Ekandjo said in response to questions from The Namibian MTC Money has raised a stink in the Namibian financial circles as some players feel a product like MTC Money must be operated by a financial institution Bank of Namibia spokesperson Ndangi Katoma did not respond t...[...read more]
Feb 282014 The Independent In September 2011 Econet launched its EcoCash mobile money transfer service literally transforming the telecoms and banking sectors Econet was not the first operator to launch this service but due to its financial muscle and a large subscriber base it managed to steal the limelight from other operators NetOne had in March of the same year launched its One Wallet service The major objective of this new technology was to enable the unbanked to access banking services In addition mobile operators roped in this service as a way of diversifying revenues away from voice transmission which was gradually declini...[...read more]
FEB 272014 THE STANDARD NDAMU SANDU LOCAL banks face a tough hurdle as the emergence of mobile money transfer services MMTS appears to pose a serious threat to their survival Econet the countrys largest mobile operator launched EcoCash in 2011 to tap into the unbanked It was followed last year by NetOne which relaunched its own OneWallet Soon afterwards Telecels MMTS termed Telecash was launched to also tap into the lucrative business The proliferation of the MMTS comes on the backdrop of banks failure to reach to potential clients leaving a huge chunk of the population financially excluded A survey by the Zimbabwe National Sta...[...read more]
FEB 182014 NEW ERA The countrys largest mobile network operator MTC has entered the mobile payment market in partnership with MobiPay in a first step taken by a Namibian mobile network operator The partnership has resulted in MTC Money which is a payment solution that allows MTC subscribers to conduct money transfers make withdrawals as well as deposit money The service also allows for buying airtime payment for utility bills and point of sale payments at any MTC Mobile home as well as the transfer of money between people as long as they have a mobile number The chairman of MobiPay Namibia Amos Shiyuka says the partnership between MobiP...[...read more]
FEB 112014 New Zimbabwe AN association has been formed to bring together agents dealing with mobile phone money transfer to facilitate networking and help them articulate their concerns about challenges affecting the sector With the success EcoCash and the recent launch of Telecash and the relaunch of NetOne wallet agencies of the mobile operators said they needed to speak with one voice hence the formation of the association Founding director Francis Chinjakure said 100 members have so far joined the group adding they were targeting to bring together more than 1000 agencies As agents we have decided to come together and discuss ...[...read more]
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