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[January 21, 2014]
Zimbabwe : ECONET pressurized to revise its stand regarding opening up of USSD gateway [TendersInfo (India)]
(TendersInfo (India) Via Acquire Media NewsEdge) In the middle of indications that banks are planning not to transact with its banking arm Steward Bank on the RTGS platform, Econet Wireless Zimbabwe has been pressurized to revise its stand regarding the unlocking of USSD gateway.
At present, the wireless carrier is engaged in a bruising fight with banks over its reluctance to completely open up its network to enable them to roll out mobile money services to customers.
Econet says that the gateway to smartphone users is its mobile money transfer service, EcoCash, and not the network.
All funding agencies are free to use EcoCash.
But still, Econet, following talks with the banks and the RBZ's National Payments Unit, following pressure put on Steward Bank, said it will unlock the USSD gateway to the banks using a deal created under Bank Electronic Airtime Retail (BEAR).
The deal outlined the terms for opening up the gateway including transaction charges and settlement conditions.
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