ECONET Telecom Lesotho has completed a circle of innovation by introducing airtime conversion to the EcoCash wallet.
This was revealed by Econet’s acting General Manager: Econet Services, ‘Makatleho Raphoolo at the product launch in Maseru this week.
Ms Raphoolo said Econet first launched ‘buy airtime with EcoCash’ as one of the mobile money’s basic functions in 2013 but could not complete the circle since airtime conversion involves cash handling which requires cautiousness.
However, 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” Ms Raphoolo said.
“We are continuing to find innovative solutions for our customers who sometimes find themselves in circumstances that require money either to pay bills or send to loved ones when they only have airtime in their accounts… that’s where this service comes in handy.”
Although it free to buy airtime using EcoCash, airtime to EcoCash comes at the minimal charge of 20 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. 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 authorise by confirming manually.
A confirmation short message service (SMS) will then be sent 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 the airtime conversion process 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:
- Dial *100#
- Select 4 EcoCash
- Select option 2 Airtime to EcoCash Conversation
- Select 1 Convert Airtime
- Enter Amount you wish to convert
- Press 1 to confirm