Econet introduces ‘Tap and Pay’ cards

Econet Wireless Zimbabwe is being investigated for tax evasion by the tax body, ZIMRA

The EcoCash Card is also the only card which does not have monthly fees.

ZIMBABWE has taken another major step towards being a completely cashless society with the introduction of a new feature on the EcoCash Debit Card, known as “Tap and Pay”.
Following suit with global trends, in line with the new wave of payments, the contactless ‘Tap and Pay’ means that for transactions under US$5 for up to a daily cap of US$100, a person no longer has to enter a PIN number on a Point of Sale terminal. All one need to do is to tap the machine and payment is recognised. This will eliminate time wasting at tills and other pay points.

Chief Executive Officer of Econet Services Dr Jimmy Shindi said: “Zimbabwe now has the same cashless infrastructure in place as the most advanced economies in the world.”
He said carrying cash in your wallet was now an option but not a necessity. “Cash is very expensive to carry around, and it has many inconveniences particularly in Zimbabwe because of the U.S Dollar. Now you can just do everything by you in –wallet card,” he said.

The EcoCash Card is by far the largest payment card in circulation in Zimbabwe and the first contactless offering in Zimbabwe. It is also supported by the largest number of Point-Of-Sale terminals, as more than 50 percent of all payment terminals in the country are part of EcoCash.
The EcoCash Card is also the only card in the country which does not have monthly fees. It linked directly with EcoCash, in addition, you can also move money into it directly from your bank account. It is extremely popular with Zimbabweans travelling out of the country as it is part of MasterCard.
The introduction of Tap and Pay service is expected to stimulate retail sales as people can buy goods for as little as 10 cents using the card. The ‘Tap and Pay’ service can be enjoyed across TM, OK’s, SPARs, Innscor and many other retail outlets in Zimbabwe. Internationally, it will be simple for Zimbabweans to immediately tap their way through places such as the London undergound, Starbucks outlets with access to over millions of ther international merchants points that already accept contacless payments.