Telecel Zimbabwe launches mobile wallet service

Telecel have launched a service which enables customers to use their phones as a mobile wallet. The move means subscribers can open virtual banking accounts without the need to provide payslips or proof of earnings. This can be done at minimal cost compared to opening a conventional bank account.

This new service in Zimbabwe allows customers to withdraw or deposit money at local partner stores, using their mobile phone as a means of recording transactions. Anywhere there is a bank, supermarket, store or post office that is a partner of Telecel, subscribers will be able to make use of the service.

“With this service, your bank is your phone. It goes with you wherever you go” a Telecel spokesperson said.

In addition to instant money transactions, customers will also be able to transfer and send money, purchase shopping online or make balance enquiries from wherever they are.

Telecel claim that the service will benefit those in remote areas the most, as they will no longer need to travel to the city for their banking requirements. Subscribers will also receive confirmations of transactions by text message.

“There will be no need for people in rural areas to travel to the city or growth point to withdraw money. Once they have received an SMS confirmation that money has been deposited into their virtual account,they can visit the nearest farmer, supermarket, post office or non-governmental organisation that is in partnership with Telecel to
collect their cash,” the spokesperson said.

This article was originally posted on Southern Africa Business Communities

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