Telecash, Telecel’s mobile money service, has announced a reduction in tariffs on its mobile financial platform to encourage the use of electronic payments, mobile as well as plastic money to help ease the cash shortages prevailing in the country.
In a statement released today, Telecel’s acting Head of Mobile Financial Services Violet Masunda said the company felt compelled to intervene and help ease the cash crisis.
“Our decision to lower Telecash tariffs is in response to the need to encourage and make more affordable the use of electronic and plastic money in line with government’s efforts to ease the current cash crisis,” she said.
“The reduction of Telecash tariffs will also improve financial inclusion as disadvantaged and low-income segments of our customer base will find mobile banking more affordable and attractive,” Masunda said in a statement.
She also added that changes to the tariffs are across Telecash’s entire range of services and payment options, including cash-outs.
“The most notable and significant changes are the reduction of Telecash’s Gold debit card charges from a maximum of US$2.95 down to only US$0.45 while transactions of less than $2 are now free,” she said, adding that bill payments have also been reduced from a maximum of US$3.70 down to US$1.50 with bill payments of under $5 being free of charge,” reads part of the statement prepared by Masunda.
Masunda also said Telecash was already offering the lowest mobile financial services charges prior to these further reductions in their tariffs.
Meanwhile, government has been encouraging the use of electronic, mobile and plastic money to ease the on-going cash shortages that has seen banks being forced to lower daily withdrawals limits.
