BY NOKUTHABA DLAMINI
Zimbabwe’s largest mobile money platform, Ecocash, will next month increase its transaction charges by 10 percent after getting approval from the regulator.
Ecocash says the new charges will come into effect on September 19.
According to a price schedule published on Ecocash website and social media pages, EcoCash subscribers will pay an extra $1.37 when sending $100 to a registered user, up from the previous charge of $8.01.
Consumers buying Zesa electricity tokens using EcoCash, or paying for goods valued at $100, will pay an additional $1.24 and $1.20.
However, there would be no additional changes on all
transactions above Z$3 000, with users continuing to pay 1.91% for sending money and 1.85% for making bill and merchant payments.
But subscribers will now be required to part with $18.37 more when transferring amounts of between $2 000 and $2 499.
Transactions above $500, as in previous tariffs reviews,
will continue to attract the statutory two percent Intermediated Money Transfer Tax.
There was no immediate comment from the company on the price adjustment, coming at a time e prices of goods and services in the country have more than doubled in the nine months since EcoCash’s last tariff
review.
The EcoCash tariff schedule made no reference to the $5
000 daily transaction limit imposed on mobile money transactions in May 2020.
Although the monetary authorities last year promised to
review the EcoCash weekly limit of $35 000 “continuously, in line with the requirements and convenience of the transacting public”, there has so far not been any changes made to the transaction limits.