MoneyGram yesterday launched ‘Direct Send to Ecocash’ in partnership with Standard Bank. Here’s the press release from the launch held in Johannesburg, South Africa.
“22 October 2015.
Today the International money transfer brand MoneyGram together with partners Standard Bank launched the Direct Send to Ecocash in Zimbabwe product giving Zimbabweans in South Africa, the opportunity to send straight into an EcoCash wallet.
The launch took place at Standard Bank in Rivonia where, Herve Chomel, the Vice President of MoneyGram, detailed the convenience for customers in sending money from Standard Bank to their loved ones mobile wallets as well as the convenience in receiving from the over 20 000 EcoCash locations in Zimbabwe. He stated “one of the biggest changes in Africa over the last decade is the growth of mobile telephony. Mobile wallets have been used as a means of savings and payments.”
The sender does not need to be a Standard Bank account holder however with EcoCash in Zimbabwe, the receiver of the transaction has to be a registered EcoCash customer otherwise their transaction would be rejected.
Arno Von Helden Head of Trade and Forex Product, Standard Bank Business & Commercial Banking expressed excitement at the new mobile wallet which is available in Africa in only 2 other countries, Kenya Mpesa and Tanzania Mpesa.
Viveka Govender Senior Operations Manager for Mobile and Self Service Channels at MoneyGram said “Econet has approximately 4 million active wallet holders in Zimbabwe and this service offers our customers more choices in how their receiver collects remittance”. Govender stated the product offering will be extended to Standard Bank 167 branches across South Africa and listed the key benefits of Direct Send which include funds being received into Ecocash wallet at any time and the service being safe and fast. The convenience of sending a MoneyGram remittance directly into your receiver’s mobile wallet eliminates the need for a reference number. From the time of send, the remittance will be deposited into the receivers’ mobile wallet within seconds.
The afternoon event also included a test transaction that was witnessed by invited guests. Govender sent money to Harare Zimbabwe and MoneyGram Senior Marketing Manager for South and East Africa, Gabriel Wilson made a call to Mr Bright Masiyazi via loud speaker to confirm the transaction was received by the recipient into his cell phone.
The service comes with a daily transaction limit of US$1 000 and a monthly limit of US$3 000. Statistics have it that there are between 1.5 million and 2 million Zimbabweans in South Africa who send money home regularly. The Direct Send launch positioning is welcomed as customers enter the festive season which is characterized by friends and family sending and receiving money from loved ones.”