ZB bank and Zympay have partnered to make it easy for Zimbabweans in the diaspora to pay school fees back in Zimbabwe. Zympay is a cross-border (remittance) payments platform, where Zimbabweans in the diaspora can (send money) make bill payments like ZESA (and now school fees) for folks back home or send money.
The partnership will facilitate digital payments of school fees for Zimbabweans living outside the country directly into the school’s account at ZB bank. And this new service removes local transactional fees by eliminating the ‘middlemen’ in the equation. Therefore the partnership gives birth to a new and cheaper way of paying for education to the diaspora. And Paying school fees for the diaspora gets even more attractive as the value of money paid through the Zympay will increase by 7% when it gets into the ZB account. Ronald Mutandagayi, The ZB Financial Holdings Limited Group Chief Executive Officer said;
We are delighted to strategically partner with ZymPay, a world-leading Bill Pay Marketplace – to provide an innovative way for clients locally and in the diaspora to support their loved ones in making direct School fee payments.
Elaborating on the partnership, CEO and Chairman of Zympay Dakshesh Patel said;
This partnership will offer our schools, universities and colleges a secure digital payment solution that ensures that fees are paid on time, directly into the ZB account with all reference details available. The solution as I have noted before offers peace of mind to the sender as it eliminates the middleman in the process and affords the sender further value through the 7% incentive from the RBZ.
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7 comments
what conversion rate do they offer for real forex outside to make payments in Zim in rtgs rubbish ?
7% ?? hahaha, what a joke, should be more like 70% chumps !!
Zimbabwe institutions are pathetic.I made 8 visits to Steward Bank to offer remittance platform from UK and they kept saying come tomorrow,come tomorrow and nothing came out of it.Grossly inefficient,but they would rather operate with foreign owned institutions like Western Union,WorldRemit,Money Gram etc.They are all very quick to adopt programmes from people who have a pale colour but none with their own folks.
so true
Hie Kufandada
id like to know more about your remittance platform, are you operating? what is is it called etc . drop an email and we can chat
Prices of goods and services in Zim are priced at parallel market rates and everyone knows it. Money remitted to Zim from the diaspora is equivalent to USD cash and no sane person is going to hand over their real USD to pay for goods and services priced at parallel market rates. People will continue to send money through the expensive western union and money gram – at least the recipient will get the money as it was sent
Why has this world bcome so corrupt. Honestly how can you publicise so openly day light basketing of real forex in exchange of fluidy parallel market. Why cannt you offer us more realistic deals where we see value for our money.