Zimbabwe: NetOne unveils its credit card and a new Mobile Money service

Zimbabwe: NetOne unveils its credit card and a new Mobile Money service

NetOne, a subsidiary of the incumbent TelOne, has initiated a strengthening of its presence in the finance segment. To this end, the telecom company has unveiled two new products.

First of all its credit card which will allow its consumers to dispense with liquidity to make purchases. According to NetOne CEO Brian Mutandiro (photo), the cards that are already available in all NetOne stores will allow for  ” practically any commercial transaction as with a credit card” .

According to Supa Mandiwanzira, the minister of information technology, communication, postal services and mail, “the problem of liquidity shortages is not unique to Zimbabwe alone. In other parts of the world, whether in America, the UK, China or elsewhere, everyone has turned to plastic money. The message we want to convey today is that times have changed and that this is the time for us to adopt this modern way of doing business . 

In addition to the credit card, NetOne also unveiled its new Mobile Money service in testing phase for two months. Named “OneMoney”, it will replace OneWallet, which failed to attract consumers because of bad trade policy. This error has encouraged the growth of competitors such as Econet Wireless, which today owns more than 50% of the mobile money transfer market with its EcoCash service.

Source: Agence Ecofin