ECONET TELECOM LESOTHO AND STANDARD LESOTHO BANK LAUNCH BANK TO WALLET SERVICES

Econet Telecom Lesotho, pioneers of mobile money in Lesotho, in partnership with Standard Lesotho Bank, the largest commercial bank in Lesotho by assets and market share, are proud to introduce a new offering called ‘Bank to Wallet’ on Standard Lesotho Bank’s Mobile Banking platform. The service will be introduced tothe market on Thursday 19th November 2015; it allows all Standard Lesotho Bank account holders to transfer money into their EcoCash wallet using the Mobile Banking service. The service is innovative and it is the FIRST OF ITS KIND IN LESOTHO.

 

‘Bank to Wallet’is a value added service which allows Standard Lesotho Bank customers to conveniently deposit money directly into their own EcoCash Spache-Fono wallets or family and friend’s wallets. In order to transfer money, the Standard Lesotho Bank account holder must be a registered Mobile Banking subscriber. Any registered EcoCash subscriber will be able to receive money through this service.

The inclusion of Bank to Wallet in the menu of Mobile Banking signals Standard Lesotho Bank’s and Econet Telecom Lesotho’s concerted effort towards interoperability and financial inclusion. Standard Lesotho Bank is really embracing telecommunication technology to remain competitive in the market.

 

“Bank to Wallet” service is providing a one-stop-shopping experience where the bank has collaborated with Econet Telecom Lesotho (ETL) to bring convenience to the customers with all services within the reach of their mobile phones; it also offers them the best value for money.

When officially launching this new product, the Standard Lesotho Bank Chief Executive, Mr. Mpho Vumbukani said: “As a bank, we are aware of the way in which technology has transformed development in all its facets, which also includes banking. This new offering is testament to the fact that Standard Lesotho Bank has a big appetite for technological advancements that makes banking more convenient for our customers. Most importantly, we also welcome this development as it has brought us together with Econet Telecom Lesotho to find how best we can improve the lives of our customers. We are grateful for this collaboration because as we move forward, service is what differentiates us from the others.”

“For Econet, this is yet another milestone that we have reached in our attempts to ensure the widest possible access to financial inclusion for our customers. The partnership with Standard Lesotho Bank is a further step in making it easy for our customers to access money anytime, anywhere” says ETL CEO Leon De Fleuriot. Mr. De Fleuriot continued to say that this is unparalleled convenience to be applauded by Econet and Standard Lesotho Bank customers as it is in their best interest. He also reiterated that EcoCash is a well trusted brand and innovative mobile money service in Lesotho and encouraged customers to make use of these facilities as they are meant to save them time and money.