NetOne has announced the scrapping of all transaction fees on its OneMoney platform, though the statutory 2 per cent tax on transactions still apply.
The promotion runs until the end of the year (31 December 2019), NetOne CEO Lazarus Muchenje announced on Monday. He said:
We’ve introduced zero-rated transactions on all OneMoney transactions except the statutory 2 per cent tax and card swiping charges.
This means that when you send money, there are no fees; when you receive money there’re no fees; when you purchase airtime, there’ no fees; when you cash-out, there’re no fees; and when you buy at the shop using the merchant code, there’re no fees.
The promotion comes at a time when the country’s main mobile money service, EcoCash, is facing some glitching following a network upgrade on November 16.
NetOne’s promotion could be a way of capitalising on EcoCash’s troubles, with the latter currently controlling over 90 per cent of the mobile money market.