Zimbabwe’s Econet Wireless Ltd. is developing a mobile-payment system designed for small-ticket transactions in that country, the telecommunication company announced Sept. 6.
The system would enable subscribers to pay for items costing less than US$20 at retail locations, according to a company press release.
To use the service, both the buyer and seller would require Econet mobile connections to transfer payment funds from one mobile wallet to another, the company said.
An Econet spokesperson declined to provide specific details regarding the wallets, saying more information would be available at the time of the launch later this month.
Econet has entered into partnerships with retailers and banks nationwide for the service it designed for its 6 million subscribers, according to the release. The company also designed the service for businesses that sell small-value goods, such as supermarkets, and smaller vendors in the country, the company said.
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