Zamtel introduces more financial digital platform

….The Central Bank says this is a safer way of paying for goods and services

By Francis Maingaila

Lusaka (29-04-19) The Zambia Telecommunication Corperation (Zamtel) has surprised the world with yet another world class innovation that will facilitate  a move towards a cashless society.
Zamtel Managing Director Sydey Mupeta told journalists that, the company has integrated ZamPay  to Visa and MasterCard that will enable clients to not only pay but also buy goods and services in the comforts of their homes.
Mupeta explained that the seamless mobile platform will enable customers undertake a fast, easy and secure payments goods and services.
According to Mupeta the integration innovation is in conformity with
Government’s aspiration towards attaining a cashless society.
“Ultimately this product will contribute towards the growth of the mobile money business in Zambia.”
He suggested that, since the introduction of Zamtel kwacha over 187 merchants, including Pick&Pay and Choppies have signed up for the product to be used by both Zamtel  and non -Zamtel customers  . 
Mupeta added that the expect more merchants to sign with Zampay to facililitate continued  progress.
He said the Zamtel Kwacha users on USSD will be able to make payments at ZamPay Merchants by in-putting a Merchant ID and amount. Similarly, ZamPay customers will be able to deposit and cash-out from any Zamtel Kwacha Agent.
ZamPay customers with Zamtel numbers are now able to access all features available on Zamtel Kwacha such as money transfers, bill payments, airtime and bundle purchases.
Prior to this innovation, Mupteta said, Zamtel launched the Number Neutral capacity facility on ZamPay which allows customers from other networks to download the Application and enjoy the benefits associated with Zampay.
“The ZamPay platform completely takes away the need for people to be moving around with huge sums of money whenever they go shopping.”
He said the product is less risky and will provides an opportunity for a smarter way of transacting.
He said the innovation will ultimately transform customers’ lives both rural and urban areas using their mobile phones’ USSD and other features to be enhanced.
“It is Zamtel desire  to drive the mobile wallet movement in Zambia and increase delivery of innovative services to consumers.”
Mupeta assured that ZamPay will eliminate the risk of handling sums of cash and will bring about efficiencies in the cost of running business.  The need to spend money for “Cash in transit” security services will become a thing of the past,”
And Bank of Zambia Deputy Governor, in Charge of Operations, Bwalya Ngandu commended Zamtel for coming up with another world class innovative aimed at enhancing financial digital migration.
Bwalya told journalists that, the digital technology to access financial services has become synonymous with doing business in Zambia and has helped redress some of the challenges faced by many end users as they moved around with cash to undertake business noting the ZamPay integration was a milestone in resolving the hurdle.
He said the use of digital technology to access financial services has become an everyday feature and beginning to define how we spend, send and save money.
He Promised Zamtel that the Central Bank will not stand on the way of innovation that supports  financial inclusion
He said Digital transactions is low cost from the huge volume of cash that people have to carry.
He advised Zamtel to take the product to the rural areas where their are no banking facilities.
He also urged other merchants to accept the transaction using the digital platforms.
The central bank has in the recent past been teaching the people on the importance of electronic service.
The bank has created a working group to go out in the field to sensitise the people on the benefits of such innovations.