ZANACO in power tokens deal with ZESCO
Written by Millennium on February 21, 2019
BUUMBA CHIMBULU writes
ZANACO and ZESCO have signed a mutual agreement that will allow the bank to expand the sale of electricity tokens on all its digital payment platforms.
Zanaco chief executive officer, Henk Mulder, said the deal meant that the bank’s customers would now experience a significant improvement in the levels of service delivery.
“Our promise is to make life easier for our customers. We are also now able to serve more ZESCO customers who may not be Zanaco account holders,” Mr Mulder said
Zanaco has been distributing ZESCO electricity tokens since 2011 but these were only available on the Zanaco mobile banking platform called Xapit, only available to ZANACO’s more than 1.2 million account holders.
With the new agreement that allowed Zanaco to be a super dealer, the service has been expanded to be available on all of the bank’s digital channels, including the Zanaco Xpress App and the Zanaco mobile App.
This means that Zanaco would now be dealing directly with ZESCO instead of going through an intermediary.