More Zimbabwe companies paying salaries using mobile money

Monday, February 3, 2014

A ‘cash crunch’ in Zimbabwe is forcing more local companies to turn to mobile money to pay workers’ salaries.

This is according to officials at Econet who say that use of their ‘EcoCash Payroll’ service has risen 82% amid “liquidity problems” facing banks in the country.

Econet Services chief executive officer, Darlington Mandivenga, said last week that EcoCash user numbers had now surged to 3.5 million.

However, competition in the mobile money space in Zimbabwe is expected to also heat-up following the launch of Telecash by Telecel Zimbabwe last week.

Source: IT Web Africa (link opens in a new window)

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digital payments, mobile finance, mobile money