Without any widely adopted internet payments platform, despite the existence of Vpayments, and some EcoCash internet payment trials, eCommerce in Zimbabwe is struggling to take off. But there are startups that are moving in early regardless, positioning themselves for when the Zimbabwean will rely on the internet to shop.
Zimswitch, a national switching company recently introduced an internet payment gateway service called Vpayments. Being a financial switch basically means they provider interconnection between their member banks. Zimswitch member banks account for about 95% of the 1.5 million banked population in Zimbabwe. After hyperinflation and dollarisation, many Zimbabweans moved away from the banks, but now they are moving back, with the number of banked individuals holding a bank account expected to exceed 3 million by the end of 2013.
There are two main problems facing anyone who wants to conduct business online, namely: Payments and Distribution. The payment problem When one needs to make online transactions, they must to have a MasterCard/Visa card or PayPal, or any other method of online payment. None of these are easy to come by for the majority of internet […]
Until sometime recently, using PayPal in Zimbabwe was a pain. See, the company considered Zimbabwe a sanctioned country and as such denied access to its platform to anyone connecting from a Zimbabwean internet connection. They’d use the IP address to check this. Users would get the following message: Error 3028: You have accessed your account […]
There are known knowns, things we know that we know. For example 1byte = 8bits. There are also known unknowns things we know we don’t know. The exact value of pi for example. However people frequently forget the unknown unknowns; things we don’t know that we do not know. More often than not it is […]
We have received a much needed update from ZimSwitch on stuff they have been working on these past several months. The last time we covered ZimSwitch in some depth is when they announced the signing on of 12 financial institutions to their ZimSwitch Shared Services (ZSS). They also announced then that the company was working […]
Having read so many comments and stories here on how you cannot access PayPayl services in restricted countries like Zimbabwe, I felt compelled to share how you can use PayPal without having access to PayPal, having no PayPal account, and without the means to create a PayPal account.