Blog #EcoCash

Well if you ever transacted in the past few days, you would have noticed a very big unpleasant change to the charges Ecocash is now charging. Where are we really going as a nation, is it a lack of worthy competitors, or government policies causing all these unrealistic charges. Apparently to transact $5 the charges are now about $2 that’s a 40% charge on a single transaction, all this is a result of the Digital Service Tax (DST) on top of the government tax and the service provider charges as well. Lack of clarity on actual charges is what is causing this uproar and the reasons for these ureasonable hikes yet to be disclosed to us, where will this money go and what will it be used for. Let’s take a look at what is really happening so we may try to get handle on the current situation.

For the past few years, EcoCash has been introducing new wallets to cope with the times and market demands from introducing USD wallets, merchants, diaspora wallets to even virtual cards. Now EcoCash has launched a special wallet designed specifically for small and medium businesses, vendors, and service providers that in reality account for over 60% of the country’s economy. Dubbed EcoCash Plus, the company said the new product addresses the day-to-day operational needs of micro, small and medium-sized enterprises (MSMEs), by enabling them to transact, pay bills, manage payroll, and access business records, all through their mobile phones. This surely is a good move to help small businesses navigate the complexities of operating in an unstable economy. Let’s delve deep.