Mozido, e-commerce and payment solutions provider, has acquired majority stake in Zimbabwe-based mobile wallet company NettCash to expand its presence in Africa.
NettCash’s pre-paid electricity solution will be integrated with Mozido’s mobile transaction platform services including mobile bill pay, stored value account and person-to-person payment services to launch Zimbabwe’s first mobile wallet that includes prepaid utility services, Mozido said in a statement.
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Mozido said that it is now planning to add additional financial services to NettCash’s mobile solutions. In addition, the company intends to expand mobile bill pay to other service and utility providers, add inbound remittance transactions, and person-to-person payments.
Mozido founder Michael Liberty said: "Mozido’s global strategy is to identify opportunities where mobile financial services, that are designed to be inclusive and easily accessible, can solve important problems for the region – no matter the user’s banking status or physical location.
"We saw an opportunity to fulfill an important need in Zimbabwe, and Mozido’s NettCash mobile prepaid utility service has made it possible for hundreds of thousands of families to simply top up their electricity meters whenever they need, instantly from their mobile phones."
Mozido president of EMEA BJ Carter said: "Mozido’s NettCash services use mobile phones to fill a real need to conveniently pay for essential services in a predominantly cash society.
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By GlobalData"Anyone can load cash at NettCash agents and kiosks, and then access their stored value account through mobile SMS, feature phones, and smart phones using the NettCash service to start topping up their electricity accounts from the convenience of their own homes. It’s a safe and secure method of storing the money they need to access vital services like pre-paid electricity."
