THE country’s smallest mobile network operator, Telecel Zimbabwe, has reduced tariffs on its mobile financial platforms, as it moves to promote cashless transactions.
BY BUSINESS REPORTER
The move comes as the central bank recently ordered a reduction in charges on transactions to promote the use of plastic money and reduce the demand for cash transactions.
In a notice last week, Telecel said the changes to the tariffs were across Telecash’s entire range of services and payment options, including cash-outs. Telecash is Telecel’s mobile money service.
Telecel said transactions using Telecash’s Gold debit card would attract charges of $0,45 from $2,95, while transactions of less than $2 are now free. Bill payments have also been reduced to $1,50 from a maximum of $3,70, while payments under $5 are free of charge.
Telecel’s acting head mobile financial services, Violet Masunda said the decision to lower Telecash tariffs was in “response to the need to encourage and make more affordable the use of electronic and plastic money in line with government’s efforts to ease the current cash crisis”.
“The reduction of Telecash tariffs will also improve financial inclusion, as disadvantaged and low-income segments of our customer base will find mobile banking more affordable and attractive,” she said.
Government has been encouraging the use of electronic, mobile and plastic money to ease the ongoing cash shortages that have seen banks being forced to lower daily withdrawals limits.
