This service will never succeed and this is just marketing in my view. If I remember there is another service between OK and Standard bank. I have never met anyone who has used it or heard about it in the grapevine or media. All these companies/banks don't have a strong agent network like EcoCash so I doubt EcoCash will even see this as competition even if they enter this remittance market. Ok has 54 stores in Zimbabwe compare to 3000 EcoCash agents and they do not have presence in a number of areas around the country. Does one have to travel to an OK store in a city 100km away to collect money. What is the cost of doing that. So long they require people with fnb accounts to send money in SA it means that a large number of Zimbabweans will not access this service because they don't have IDs or permits. If FNB were clever they would team up with EcoCash in order to take advantage of the agency network and maybe direct credit to the wallet then that's convenience. Don't think this is anything worth all the noise....just another marketing gimmic.
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