Bulk payment platform, Paynet lost a lawsuit at the High Court against Bankers Association of Zimbabwe (BAZ). Back in July, Paynet, a subsidiary of Cambria Africa filed a lawsuit of US $100 million against BAZ for anti-competitive practices. In the lawsuit, Paynet accused BAZ of influencing banks to breach their agreements and not pay their […]
Paynet do not want to walk away from their feud with the banks empty handed if their recent actions are anything to go by. The service provider has taken to their Facebook account to announce that they will be suing the banks and their association for a substantial US$100m. The Facebook post reads: Payserv Africa […]
Paynet’s poison could be OneMoney’s meat. NetOne introduced a bulk payments offer under their OneMoney mobile money brand some time back. The company is now seeing an opportunity to grow the uptake of this service given the stand off between local banks and Payserve, the South African company that dominates the bulk payments processing space […]
Since June 15, banks haven’t had access to Paynet’s solution which enables them to make bulk payments. This has meant a delay and disturbance in the issuing out of salaries, as the 5200 clients who were relying on banks to give them this service have had to opt for an alternative which most probably requires […]
The stand-off between Paynet and banks is quite confusing for most people because up until banks were cut-off and some no longer had access to their salaries and pensions, most didn’t even know about the existence of a Paynet. One of the most pressing questions you probably have (and I did too) was, what exactly […]
Paynet Gives Banks Deadline To Pay Them Or They Will Cut Off Service Which Could Affect Payment Of Civil Servants
Banks have been having some issues with Paynet due to forex payments and back in March, Paynet faced periods of downtime due to failure to pay licencing fees. Paynet has thus extended this cost to the banks they provide service to and an email sent to CABS customers by the bank indicates that Paynet will […]
First Capital Bank Changed Acc No. Structure & Now Support ZWL (RTGS$), Their Customers On Paynet Have To Upgrade
At least now we know why the RTGS$ is referred to as ZWL in the banking community. Switching over to start supporting the new currency is not too simple though. The banks have to change their core banking systems to accommodate that change. Standard Chartered Bank is probably the first bank to make the change. […]
Another day another service goes down due to foreign currency issues. Yesterday it was Econet’s Self-service platform today it is Paynet. If you visit their website right now you will be greeted by an error message saying the service is down due to forex issues. SERVICE IS UNAVAILABLE The Paynet platform is temporarily inaccessible due […]
At the just ended Zimswitch Payments Conference, Zimzswitch introduced a new system that is meant to deal with the processing of bulk payments: ZEEPAY. We didn’t get to demo the payment system but it is definitely interesting and Zimswitch’s entry into this field is exciting and could have many major implications in the battle to […]
A Zimra employee reportedly hacked Zimra and stole $ 2.3 million. Although the culprit was caught before he managed to get away with it, Zimra hasn’t yet recovered the money. The employee, Stephen Moreka is employed as an infrastructure administrator by Zimra, no wonder he was able to pull it off well not exactly. As […]
We just got information that Econet and Paynet, a local payments & payments software company, have partnered to offer a new EcoCash service that will enable companies to pay salaries directly into their employees’ EcoCash wallets. The service will likely be announced in the coming days.
The Payserv Group is Zimbabwe’s leading provider of Payments and Business Process Outsourcing services targeted at financial and related sectors. The group’s main business units comprises of Paynet Zimbabwe and Autopay Zimbabwe.