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1.7k views
in Mobile Banking by Contributor (8.2k points)
Ecocash is a good product, we cant argue, but how about the
1) Pricing
2) Monopoly over such services (Banks always crying)

They once said they were looking at a new pricing regime, are they still looking, I am sure all the information they need to come up with a new pricing structure is available to them, and am sure they employ a few mathematicians/staticians (If not, i could refer them to e few!) and it might not need a day for them to come up with a new and client-centric charging structure, whats your views?

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5 Answers

+1 vote
by new here (460 points)
selected by
 
Best answer
Something should be done on the pricing of all of their services in general. They are a bit expensive
+2 votes
by Guru (30.2k points)
I personally think what Econet is doing through its Ecocash service is commendable and gives Zimbabweans an opportunity to move with the times. Mobile banking is a phenomenon worldwide. Having the largest mobile operator driving out such a service is a good thing... It means more "unbanked" people will have access to financial/banking services, more innovation by both mobile operators and financial institutions, convenience for the majority and ease of liquidity challenges in the country.

As for pricing, I am not sure how they do the costing and all, but rest assured what ever they are doing right now its in accordance with the laws governing Telecommunications and to some extent Banking... Obviously we need to acknowledge that the pricing model the company has adopted will see them earn high profits initially (probably to recoup investment quicker), but gradually we should see a decline in service charges (maybe in 2-3 years). Either way, any company would want to prolong the "high profit" period - I know I would!!!

So yeah, I think Econet is sincere and as a publicly listed company it has to be (required by law).
by
Ha! There is absolutely no way in Hell Econet would willingly reduce profits for the convenience of YOU and me - in the absence of any serious competition. They would only ever reduce charges in reaction to poor consumer response and subscribers defecting to the competition (Telecel). In the case of mobile money, everyone has had a shot and failed, so don't expect any threat to Econet's position in the near future (and I'm talking YEARS) if ever.
0 votes
by Regular (1.2k points)
econet has a tendency of starting high whenever they introduce a package bt they eventualy true 2 eir word cme dwn.econet seem to be sincere n they have recently appointed a CEO for ecocash which means they r serious intent to drive e service,with the appointment lm sure will be seeing a new structural adjustments to e service.
0 votes
by Regular (1.3k points)
1. the pricing is OK, i think on the price government collect $0.05 for every transfer and the collect income tax from ecocash. that $0.05 cost is passed to the customer. If the price is price is to much for you go to Telecash or Onewallet. Why drive a 5litre car if you cant afford fuel.

2. Monopoly ?? there is no monopoly here? in business we pay, You dont expect cheap service from your competitor. If Econet/ecocash gives bank cheap service they wont make profits and they will be out in business. Banks should pay for the service or they should have their own infrastructure. If you want to do business without resources you dont give terms and conditions.

Those banks which cry why dont they go to Telecel and Netone in numbers its over 5 million subscribers and thats a lot in volumes.
–1 vote
by
Econet is a business and as long as there is no competition they will charge what they feel is acceptable for thier service or product, JUST LIKE ANY OTHER BUSINESS ENTITIY WOULD. That is how businesses operate. The more competition they get the more thier prices will come down. Its happened before and it will again with EcoCash. As for the "monopoly" part of it, in my opinion noone should be crying. EcoCash is not the only mobile money initiative launched in this country, its just the most successful. Just because everyone else is failing to come up with a model that competes with EcoCash does not make it morally or legally wrong for EcoCash to be the giant it is. This very fact is reason enough for Econet to be cautious about the way BAZ wants it to open its platform wholesale when the very customers they claim to now represent i.e my gogo out in Zvimba who has no bank account but has a cellphone, were of no financial benefit.
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