Africa-Press – Lesotho. Econet Telecom Lesotho completed a circle of innovation by ultimately introducing airtime conversion to EcoCash wallet which is basically cash that buys commodities.
This was revealed by Econet’s acting General Manager: Econet Services, ‘Makatleho Raphoolo at the product launch this week. Raphoolo mentioned that Econet first launched ‘buy airtime with EcoCash’ as one of the mobile
money’s basic functions in the year 2013 and could not complete the circle since airtime conversion involves cash handling which requires cautiousness.
However, she said that the company has been working together with mobile money authorities to ensure that the introduction of airtime conversion to cash promotes the
efficient operations of the payment system. “Airtime conversion to EcoCash is another add-on to a full banquet of EcoCash services which offer convenience
to customers since its launch over seven years ago” said Raphoolo. “We are continuing to find innovative solutions, like this one, for our customers who sometimes find
themselves in circumstances that require the use of money either to pay bills or send to love ones when they only have airtime in their accounts” added
Raphoolo “that’s where this service comes in handy” She also explained that though it’s free to buy airtime using EcoCash, airtime to EcoCash comes at
the minimal charge of twenty percent per transaction. Airtime conversion to cash poses a daily limit of M200 and a monthly limit of M2, 000 per customer.
The subscriber can convert airtime in multiples of M10, that is, conversion can be made from M10 up to M200. The ‘airtime to EcoCash’ option is easily accessible on
Econet’s *100# menu under EcoCash and the subscriber must confirm the transaction before it can go through the process instantly. The conversion charges are
deducted from the converting account which is the core airtime balance and this amount is included in the amount to be converted for the customer to authorize
by pressing confirm. A confirmation short message service (SMS) will then be send to the customer confirming the transaction while the EcoCash wallet is
credited with the amount requested. Subscribers can only convert airtime into their own EcoCash wallets. They cannot convert their airtime into other subscribers EcoCash wallets; however, once airtime conversion is successful,
they can send money to friends and family from their EcoCash wallets. This service is available to prepaid mobile subscribers only and bonus airtime or free minutes cannot be converted into cash. Airtime Conversion steps:
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