C-Trade now allows traders to deposit using ZIPIT

Securities trading platform, C-Trade, now allows traders to deposit money into their accounts using ZIPIT. The platform already allows traders to deposit money using Ecocash, Telecash, OneMoney via Paynow and traditional RTGS transfers.

Ever since the Reserve Bank of Zimbabwe neutered Ecocash by putting restrictions per transaction and total weekly transaction amounts, Ecocash users have struggled to make some transactions especially ones that exceed $5 000ZWL. Securities trading would be affected as amounts are very likely to exceed the limits.

A lot of people are already using ZIPIT for peer to peer transactions but unfortunately the popular local gateway, Paynow doesn’t process ZIPIT. This means that deposits made into C-Trade’s account will have to be manually credited into your account just like those made using RTGS.

How to make a deposit

A poster with the instructions

To deposit money to C-Trade via ZIPIT you have to follow these steps:

Make a ZIPIT transfer to CABS Account 1117149110
The name on the account is Corpserve Registers Pvt Ltd and the branch code is 24000
Once the transfer is done, take a screenshot of the SMS confirming the transaction to WhatsApp number 07377594405

We need a gateway that can process ZIPIT

There is a gap in the market here, most of the gateways I have seen that can automatically process ZIPIT are either not open to informal businesses which form the bulk of businesses in Zimbabwe or are custom internal solutions. It would be nice if ZIPIT creates an eCommerce gateway that online businesses can use.

2 comments

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Bakani Dhliwayo

1 April 2021 14:41

Can you do a profile about the vpayments system that Zipit has. I just used it to load up my Ctrade account but i hardly understand the mechanics. It could be a potential game changer

1. Garikai Dzoma
  
  1 April 2021 15:30
  
  V-Payments is old technology that has failed to live up to expectations. I think the biggest hurdle is the fact that people have to actually register for it. Few people do and as a result, it has wallowed in medeocrity. There is also the fact that not all banks support it.