Telecel Zimbabwe’s new mobile money service, dubbed ‘TeleCash’, will reportedly be introduced in the capital Harare by the end of this week, local news agency TechZim reports, citing unnamed sources familiar with the matter. The service was initially scheduled to launch in the fourth quarter of 2013, but faced delays due to the need for a ‘full integration to a number of banks’. The new service will reportedly offer lower tariffs than rival Econet’s mobile money service.
According to TeleGeography’s GlobalComms Database, the TeleCash mobile banking service will be the company’s second entry in the niche sector. In December 2010 Telecel pre-empted larger rival Econet’s plans by launching a mobile money service under the ‘Skwama’ brand name, enabling handset users to make money transactions at partner banks, supermarkets or post offices. Unlike the Econet Eco-Cash service, however, Skwama never caught on with users and it was quietly phased out; an official confirmation of the end of the service was issued in September 2012.