Econet part­ners Stan­dard bank in mo­bile money

Lesotho Times - - Business - Staff Writer

ECONET Tele­com Le­sotho (ETL) and Stan­dard Le­sotho Bank (SLB) will to­day launch a new mo­bile money plat­form that en­ables their cus­tomers to trans­fer funds via the Ecocash Spache-fono plat­form.

Dubbed, Bank to Wal­let, the first of its kind fa­cil­ity al­lows SLB ac­count hold­ers to de­posit money di­rectly into their own EcoCash Spache-fono wal­lets or those of fam­ily and friends.

In or­der to trans­fer money, the SLB ac­count holder must be a reg­is­tered Mo­bile Bank­ing sub­scriber. Any reg­is­tered EcoCash sub­scriber will be able to re­ceive money through this ser­vice.

Ac­cord­ing to a press state­ment re­leased ahead of the launch yes­ter­day, Bank to Wal­let was part of the two com­pa­nies’ con­certed ef­fort to­wards in­ter­op­er­abil­ity and fi­nan­cial in­clu­sion.

“Bank to Wal­let ser­vice is pro­vid­ing a on­estop-shop­ping ex­pe­ri­ence where the bank has col­lab­o­rated with ETL to bring con­ve­nience to the cus­tomers with all ser­vices within the reach of their mo­bile phones; it also of­fers them the best value for money,” the state­ment read.

SLB Chief Ex­ec­u­tive, Mpho Vum­bukani, said the fi­nan­cial ser­vices provider was em­brac­ing telecom­mu­ni­ca­tion tech­nol­ogy to re­main com­pet­i­tive in the mar­ket.

“As a bank, we are aware of the way in which tech­nol­ogy has trans­formed de­vel­op­ment in all its facets, which also in­cludes bank­ing,” said Mr Vum­bukani.

“This new of­fer­ing is tes­ta­ment to the fact that Stan­dard Le­sotho Bank has a big ap­petite for tech­no­log­i­cal ad­vance­ments that makes bank­ing more con­ve­nient for our cus­tomers.”

He added: “Most im­por­tantly, we also wel­come this de­vel­op­ment as it has brought us to­gether with Econet Tele­com Le­sotho to find how best we can im­prove the lives of our cus­tomers. We are grate­ful for this col­lab­o­ra­tion be­cause as we move for­ward, ser­vice is what dif­fer­en­ti­ates us from the oth­ers.”

On his part, ETL CEO Leon De Fleu­riot said the ini­tia­tive was meant to en­sure the telecom­mu­ni­ca­tions gi­ant in­creases con­ve­nience for its cus­tomers.

“For Econet, this is yet an­other mile­stone that we have reached in our at­tempts to en­sure the widest pos­si­ble ac­cess to fi­nan­cial in­clu­sion for our cus­tomers,” he said.

“The part­ner­ship with Stan­dard Le­sotho Bank is a fur­ther step in mak­ing it easy for our cus­tomers to ac­cess money any­time, any­where.”

Mr De Fleu­riot said the “un­par­al­leled con­ve­nience” the Bank to Wal­let plat­form would pro­vide was wor­thy of be­ing ap­plauded by ETL and SLB cus­tomers as it was in their best in­ter­est.

He said Ecocash was a well trusted brand and in­no­va­tive mo­bile money ser­vice in Le­sotho and urged cus­tomers to make use of the fa­cil­i­ties to save them time and money.

SLB Chief Ex­ec­u­tive Mpho Vum­bukani

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