The National Payments Switch, Zimswitch was an exhibitor at the Zimbabwe International Trade Fair (ZITF 2022). It appears that their main mission for this year’s edition of the ZITF was to interface with customers (both corporate and individual) about who they actually are and what they do.
For all those who might not be aware (it will most certainly be the minority), Zimswitch was named the national payments switch by the Reserve Bank of Zimbabwe in 2020. This allowed the company to bring about an era of interoperability which essentially means that you and I can send money to any bank account or EcoCash, OneMoney and Telecash wallet directly.
That announcement also ushered in a number of products from Zimswitch like ZIPIT Smart, which is basically like “EcoCash” however you will be using money from a bank account that has fewer limits as compared to a mobile money wallet. ZIPIT Smart also works much like a Point of Sale (POS) machine but on a mobile phone for informal traders who want to be able to support card transactions but don’t have the funds to purchase or rent a POS machine.
Zimswith also launch a bulk payment solution called ZeePay which supports EFT Credits (batch) – low value, high volume (bulk) payments for interbank bulk disbursements of funds, Real-Time Credits (single) – low-value single payments and EFT Debits (batch). These payment streams can be made through Person to Person (P2P), Person to Business (P2B), Business to Person (B2P) or Business to Business (B2B).
The team ZImswitch sent to Bulawayo were kind enough to give us a tour of their stand and go over developments new and old. You can watch Zimswitch at ZITF 2022 with the player below or watch it on YouTube directly with the link here.