Golix, Zimbabwe’s only cryptocurrency exchange, has enabled mobile money services for customers who need to deposit and withdraw funds from their Golix wallets using alternatives to bank accounts.
Through mobile money services like EcoCash, Zimbabwe’s largest mobile money service, Golix customers can now deposit and withdraw money from their Golix wallets.
Mobile money services have been the dominant alternative for Zimbabwean payments as the country’s largely unbanked population has embraced the solution’s convenience.
Zimbabwean technology publication Techzim reports that in 2016 mobile money payments accounted for 81,2% of all electronic transactions in the country.
Other transactions namely POS, ATMs (3,4%), RTGS (0,8%), internet transactions (0,3%) and cheque transactions (0,1%) handled the balance.
The team at Golix says it is aware of these figures and has adopted mobile money transactions to provide the ultimate convenience to its customers. So far the response has been positive.
According to Lloyd Chiyangwa, Golix’s accountant, ever since the mobile money option was introduced transactions have significantly increased.
“Mobile money seems to be very convenient for our customers, actually most of our customers prefer the service more than bank transfers. Ever since mobile money was introduced there has been a notable significant change, in relation to the rate of deposit and withdrawal from golix wallets to mobile money. The mobile money has increased the deposits and withdrawals by 90%,” says Chiyangwa.
From early January 2017 to date the cryptocurrency exchange has received deposits of more than half a million United States Dollars (USD) and processed withdrawals of the same amount within the same period.
As the exchange continues to grow, the mobile money services option will likely be a point of choice for many customers who would want to access their funds on the go.