OneWallet

From Pindula
OneMoney
Launch year2011
CompanyNetOne
Current supplierNetOne Zimbabwe
URLwww.netone.co.zw/onewallet/

OneMoney formerly known as OneWallet is a money transfer facility which is operated by a government telecoms company NetOne Zimbabwe. The facility runs on NetOne lines only and offers services such as Zimswitch-enabled debit card, money payments, mobile banking and airtime top-up.

Launch

OneMoney was initially launched as OneWallet mobile money to stakeholders in the city of Harare in 2011. At the launch of OneWallet, the company leadership revealed that consultations with the Reserve Bank of Zimbabwe had been done in order to guarantee the security of the customers in as far as money security was concerned. In a press statement released at the launch of the product, NetOne indicated that; "OneWallet SIM cards which are 128k are now available for swapping at all NetOne One World Shops across the country including strategic partners Firstel and Zellco. The 128k SIM card is a high memory size SIM card with security features that allow for smooth transactions in mobile money transfer and most of all ensure higher security features."[1]

Relaunch In 2013

On the 8th of November NetOne re-launched a revamped OneMoney product. The then minister Webster Shamu attended the launch and went through the revamped transacting process.[2] The relaunched product was quite an improvement from the former in the sense that NetOne subscribers could now send or receive money with Econet and Telecel subscribers as compared to the earlier model which could not do cross-net transactions. Another improvement was that there was the introduction of agents in all parts of th country for better accessibility by the subscribers most of whom are located in the rural areas of the country.[2]

Products and Services

OneMoney has services that include ,a Zimswitch-enabled debit card,sending cash, receiving cash, topping up own account, topping up another’s, account and paying bills via the mobile phone. All these payment are done from the customer’s virtual account opened at the nearest NetOne shop or registered OneMoney Money agent.


Successes

By June 2014, the service had grown to 200,000 active subscribers. The service had also registered 1,100 agents Zimpost, ZETDC (ZESA), TelOne, POSB, Agribank (essentially, fellow parastatals).[3] The service also registered considerable successes when NetOne by the numbers: 2.7mil subscribers, 200k OneWallet subs, $105M revenue partnered with ZESA to allow customers to purchase prepaid electricity using the service. After the re-launch if the product, OneWallet witnessed a marginal increase in transactions. Reward Kangai revealed the following in one of the interviews with the local media: “There has been a huge OneMoney surge from the time it was re-launched in November last year by the Minister of ICT and Postal Services, Webster Shamu. We saw a huge number of people registering for OneWallet. The volumes of transactions also increased exponentially with significant amounts. At the close of last year, the volume of transactions had gone up by 2,000%,” [4]

OneMoney Soccer Tournament

NetOne launched the OneMoney soccer tournament in order to support local football while simultaneously marketing is product and services. The sponsorship package was up to the tune of USD$500 000. The draw for eight tournament was made and saw teams such Dynamos Football Club and Caps United Football Club while Highlanders will meet How Mine.The launch was attended by executives from Mbada Diamonds, Banc ABC ,Castle Lager, officials from the Zimbabwe Premier Soccer League and the Zimbabwe Football Association. The winners of the tournament were billed to pocket $80 000 while the runners up will get $50 000 each losing finalist with get $30 000.[5] The inaugural edition of the OneWallet cup was won by Triangle Football Club after it beat Dynamos Football Club in the final game played at the National Sports Stadium in October 2014.[6]

OneMoney Rebranding

One money was rebranded in October 2017 which saw it changing its name to OneMoney from OneWallet. At the unveiling of OneMoney debit card in Murehwa two weeks before the official launch of OneMoney,Brian Mutandiro the Chief Executive Officer of Net one said “You can perform virtually any transaction with this debit card. The way one transacts with their bank card is exactly the same service you will get from this card. We saw it befitting to bring it here to you first because as NetOne, we realise how strategic this sector is in our economy,” [7]



References

  1. , Press Release: NetOne’s OneWallet successfully launched to stakeholders,Tech Zim, published:20 Jan 2011,retrieved:15 Jan 2015"
  2. 2.0 2.1 T, Mupaso, NetOne re-launches OneWallet. Will it stick this time?,Tech Zim, published:13 ,retrieved:15 Jan 2015"
  3. L.S.M Kabweza, NetOne by the numbers: 2.7mil subscribers, 200k OneWallet subs, $105M revenue,Tech Zim, published:24 June 2015,retrieved:15 Jan 2015"
  4. T. Mupaso, NetOne’s OneWallet in 2,000% increase in transactions since relaunch,Tech Zim, published:30 Jan 2014,retrieved:15 Jan 2015"
  5. , NetOne Launch OneWallet Cup,Soccer24, retrieved:15 Jan 2015"
  6. T. Tafirenyika, Triangle pockets One Wallet,Newsday, published:16 Oct 2014,retrieved:15 Jan 2015"
  7. [1], NetOne to launch mobile money, debit card , Published: October 11 2011, Retrieved: 29 November 2017