EcoCash

EcoCash is a mobile money platform operated by Econet Wireless Zimbabwe. Launched in 2011, it provides a digital wallet on a subscriber’s SIM card, enabling users to send money, pay for goods and services, and access basic financial services without a traditional bank account.

Key features of EcoCash include person-to-person transfers, merchant payments, bill payments, and airtime top-ups, along with cash-in and cash-out services through a wide network of EcoCash agents and partner banks. The service can be accessed via mobile phones using USSD menus or smartphone applications, making it widely available to a broad population.

EcoCash has become one of Zimbabwe’s dominant mobile money services and is widely used for daily transactions, salary payments, and merchant settlements. It often serves as a practical payment and funds transfer option during periods of cash scarcity or currency changes, and it supports interoperability with linked bank accounts and other financial service providers to varying extents.

Security and access to EcoCash wallets typically involve a personal identification number (PIN) and standard security practices to authenticate transactions. The service operates within the regulatory framework established by Zimbabwean financial authorities, including anti-money laundering and counter-terrorism financing requirements.

In the market context, EcoCash functions under the oversight of Zimbabwe’s financial regulators and coexists with other mobile money providers. Its network and services have evolved alongside regulatory reforms, payment system developments, and shifts in consumer payment preferences.