The service, branded ZimSwitch Ready, is available to Telecel customers who also own a bank card. ZimSwitch Ready allows users to employ their mobile devices to send money to another customer’s handset.
Subscribed clients can use their mobile phones to pay for goods and services, deposit and withdraw money or transfer money to any ZimSwitch Ready bank account or to an unbanked mobile phone user across Zimbabwe’s three GSM networks - Econet, NetOne and Telecel.
The service also addresses customers who previously had no bank accounts, including the ones living in rural areas.
When a mobile money transfer occurs, the recipient receives a notification on his handset of the amount transferred and a reference number. Also, the sender provides a secret code.
With this information, plus an identity card, the recipient needs to go an outlet with a ZimSwitch Ready sign to withdraw the funds.
With ZimSwitch Ready, users can also use their handsets to obtain bank balances and mini bank statements for the last five transactions.
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