Telecash cash-in and cash-out transactions at $12 million in last 3 months 2016

Cash-in and Cash-out transactions for Telecel’s mobile money service Telecash were at $12 million during the last quarter of 2016, prevailing mainly due to prevailing cash shortages. This is despite the fact that according to Potraz, the overall volume of mobile transactrions for cash-in and cash-out had gone down by a massive 35 percent in the last quarter of 2016.

Telecel public relations and sponsorship manager Francis Chimanda in an e-mail to NewsDay said:

The major challenge has been the shortage of cash on the market and the solution is in educating our customers to use plastic money and mobile money for transactions, while promoting these by making them easier to access and more affordable.

The initiative to encourage the increased use of mobile and plastic money has already started to happen at government and at company level, with Telecel promoting mobile payments for various services like Zesa and utility payments.

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