Zimbabwean mobile money platform Telecash has seen the number of agents and merchants utilising the service rise 63 per cent, from 1,600 to 2,600, since it was introduced at the end of January.
HumanIPO reported earlier this year mobile operator Telecel had launched Telecash, allowing subscribers to use their phones as a digital wallet to transfer money, make payments, buy airtime and pay bills.
The company said it had also signed agreements with two insurance agencies and a medical aid scheme to pay premiums and subscriptions though Telecash.
“We launched Telecash with just over 1,600 agents and merchants. It is pleasing to see that within just over a month the number of agents and merchants has increased by a further thousand,” said Telecel mobile financial services director Nkosinathi Ncube.
“We expect the number of agents and merchants to continue to grow.”
Telecel has launched a number of initiatives since releasing Telecash, allowing subscribers to pay DStv bills and Harare residents to pay utilities on their phones.
