Econet payroll moved to Ecocash

Econet payroll moved to Ecocash
Published: 21 June 2018 (199 Views)
ECONET Wireless Zimbabwe has started paying its staff through EcoCash in what the telecommunications giant says is to spare its employees from the hassle of spending time in bank queues.

In a statement on Tuesday, Econet Wireless Zimbabwe group chief executive officer Douglas Mboweni said the decision to pay Econet staff salaries through the EcoCash Payroll was intended to offer convenience to its employees.

"Our observation has shown that disbursing staff salaries through banks forces them and their families to spend long periods of time standing in bank queues to access their money. Whereas if we disburse it directly to them, via EcoCash Payroll, they can decide for themselves how much they want to transfer to their banks," he said.

He said as EcoCash already offered banking services, employees could automatically move funds to their bank wallet, without having to queue in the bank.

He added that the EcoCash Payroll had already been adopted by a significant number of companies in Zimbabwe, including some that are listed on the Zimbabwe Stock Exchange.

The benefit, Mboweni added was that bank queues could be significantly reduced if other organisations followed Econet's example as productivity time would not be lost in queues.

The move comes as EcoCash has been deploying its brand ambassadors to educate people on the convenience of using EcoCash to assist people in bank queues on how to move their money and make payments using their mobile phones.

Companies' using the EcoCash Payroll are on top of the majority of domestic workers in the country already receiving their salaries through EcoCash.

"For example, payments to farmers are being done using EcoCash — to the Grain Marketing Board, Cottco and the tobacco auction floors and too much of the agro and processing industry. NGOs have also been using EcoCash for the past four years to carry out aid-related disbursements to individuals, in mostly rural areas," Mboweni said, adding that the use of EcoCash Payroll was simple, safe, secure and reliable – with none of the risks associated with moving large sums of money.

He said in order to build on the ecosystem, EcoCash had signed up over 50 000 active merchants and agents ranging from large retail organisations to small informal traders where the use of EcoCash had been widely adopted.

Paying salaries through EcoCash is being widely adopted due to the speed in processing payments as employees generally receive their monies faster than through banking channels.

Experts say the benefit for Econet will be that they will be making massive savings on charges since they are using their own platform as compared to using banks.

Zimbabwe Information and Communication Technologies chairman Jacob Mutisi said paying salaries through EcoCash was the way to go.

"We are a cashless society and that is the way to go. Even private companies are doing the same," he said.

Mboweni said "cash holdouts", where people were forced to pay only in cash by merchants and businesses, needed to be eliminated.

- chronicle

 0

You May Like These Videos

Comments

There are no comments.

Latest stories

Knox Mutizwa wins August Goal of the Month award

by kickoff | 05 November 2018 | 751 Views

BREAKING: Gandawa on the run

by Staff reporter | 05 November 2018 | 1469 Views

Econet cannot distribute Kwese TV content to Zimbabwean viewers

by Staff reporter | 05 November 2018 | 1110 Views

Shoot-out robbers arrested

by Staff reporter | 05 November 2018 | 1152 Views

Mnangagwa ally warns economic saboteurs

by Staff reporter | 05 November 2018 | 1123 Views

Chamisa mobilises supporters for mass protests

by Staff reporter | 05 November 2018 | 926 Views

LISTEN: Acie Lumumba speaks on how he got paid

by Staff Reporter | 05 November 2018 | 755 Views

Dzamara speak on Zanu-PF fights

by Mandla Ndlovu | 05 November 2018 | 724 Views

Minister Raj Modi Modi donates salary

by Mandla Ndlovu | 05 November 2018 | 603 Views

'I am a Trillionaire' Magaya says

by Mandla Ndlovu | 05 November 2018 | 985 Views

Supermarkets to be blacklisted over cooking oil

by Mandla Ndlovu | 05 November 2018 | 623 Views

UK army to recruit from Commonwealth

by BBC | 05 November 2018 | 658 Views

Magaya opens up on arrest

by Mandla Ndlovu | 05 November 2018 | 654 Views

Kambarami is still 'Deputy Mayor'

by Mandla Ndlovu | 05 November 2018 | 528 Views

'Import ban must not go beyond December 21'

by Staff reporter | 05 November 2018 | 612 Views

Prophet Magaya puts fresh spin to arrest

by Staff reporter | 05 November 2018 | 613 Views

Chamisa's sign language interpreters get thumps up

by Staff reporter | 05 November 2018 | 601 Views

Mnangagwa to review Mthuli Ncube's 2% tax again

by Staff reporter | 05 November 2018 | 580 Views

Lumumba to be probed by ZAAC?

by Staff reporter | 05 November 2018 | 424 Views

Dzamara speak on ZANU PF fights

by Mandla Ndlovu | 05 November 2018 | 389 Views

Zimbabwe as a new gateway into Africa

by Minister of Finance Prof Mthuli Ncube | 05 November 2018 | 589 Views

Chiwenga's ex-wife looted millions

by Mandla Ndlovu | 05 November 2018 | 951 Views

We are our own worst enemies

by Mapozho Saruchera | 05 November 2018 | 642 Views

Mnangagwa to deal with unexplained wealth and bank deposits

by Staff reporter | 05 November 2018 | 608 Views

WATCH: Chiwenga talks about Prophet Walter Magaya's lipstick

by Staff reporter | 05 November 2018 | 592 Views

Lumumba Saga takes new twist....War vets bay for Mutsvangwa's blood

by Mandla Ndlovu | 05 November 2018 | 671 Views

Chamisa demands Presidency

by Mandla Ndlovu | 05 November 2018 | 562 Views

Zimbabwean teachers miss out on New Zealand opportunity

by Staff Writer | 05 November 2018 | 503 Views

Zimbabwe to introduce e-provisional driver's exams

by Staff reporter | 05 November 2018 | 548 Views

Zimbabwe to supply water to South Africa

by Staff reporter | 05 November 2018 | 543 Views

Mnangagwa claims that 'good times will soon roll'

by Staff reporter | 05 November 2018 | 518 Views

Zimbabwe as a new gateway into Africa

by Hon. Prof Mthuli Ncube | 05 November 2018 | 584 Views

Chiyangwa appoint Karikoga Kaseke

by Staff reporter | 05 November 2018 | 519 Views

ZCTU demo: Ruling today

by Staff reporter | 05 November 2018 | 470 Views

Missing cop found dead

by Staff reporter | 05 November 2018 | 595 Views

Tagwirei marries long-time girlfriend

by Staff reporter | 05 November 2018 | 924 Views

Zimbabwe relaxes maternity leave entitlement

by Staff reporter | 05 November 2018 | 556 Views

Zimbabwe to receive drugs, ambulances from India

by Staff reporter | 05 November 2018 | 474 Views