Last week, we wrote about ZIPIT Smart, a product we are excited to see enter the market. ZIPIT has announced that their new product will be launched tomorrow. ZIPIT Smart will allow merchants (retailers and business owners) to accept ZIPIT payments in a seamless and instant manner. Think of it as being similar to how […]
If you aren’t living under a rock then you’ve probably heard people saying they are “doing a Zipit” transaction. ZIPIT (ZIMSWITCH Instant Payment Interchange Technology) is a platform that enables instant inter-bank funds transfers between ZIMSWITCH member institutions (Banks and Wallets) connected to the ZIMSWITCH network. ZIPIT is designed to run in parallel with traditional RTGS […]
If you’re a OneMoney subscriber then you’ll probably want the free debit card that comes along with your subscription. It’s an extremely convenient way to transact and something that most EcoCash subscribers have been deprived of since they are not part of the Zimswitch network. Anyway if you want to get this card and you’re […]
While it was initially conceived as a way to send and receive money, Ecocash has become the unofficial currency of Zimbabwe. They might be calling them RTGS dollars but Ecocash is the best way to move these dollars. ZIPIT is a distant second but it is no less useful. The truth of the matter is […]
They say you only stop learning when you die; that is assuming there is no life after death of course. One of the most popular habit of successful people from Strive Masiiya to the now reviled Mark Zuckerberg is that they never really stop learning and assimilating new skills. Udemy offers such a learning opportunity […]
So the people who use MyCash did not feel I did justice to MyCash in my article. I am always happy to receive feedback especially if it helps others make more informed decisions. Let me highlight what MyCash customers are happy about. Ability to pay bills You can pay bills on MyCash. You can pay […]
If like me you have seen MyCash somewhere but have not bothered much about it thinking.. “They probably don’t have cash anyway and I certainly do not need another debit card’’. But in this day and age it does not hurt to investigate, you may save yourself a significant amount of money. Here’s what’s great […]
Standard Chartered customers should be informed that there has been and continues to be some service disruption and the bank has been temporarily disabled from the ZIPIT platform. FBC sent out the following message to their customers: Please note Standard Chartered bank has been temporarily disabled on the ZIPIT platform. Communication will be sent once […]
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 […]
Digital Payments In Zim Have Come A Long Way, What’s Next? Zimswitch Payments Conference Looks At That
Zimswitch Technologies is one of the most important companies in Zimbabwe’s economy right now. The business helps you and I to navigate everyday life seamlessly through their payments integration platform. The Zimswitch Evolution One thing they have managed to do over the years has been to evolve with the economy and every new reality in […]
This evening, Techzim attended a NetOne event at which they launched the OneMoney ZimSwitch enabled debit card. You might be asking yourself what OneMoney is because last you checked their mobile money platform was called OneWallet. Well, OneMoney is a ‘OneWallet come back’ (hopefully). In more formal terms, OneMoney is OneWallet rebranded. I initially called […]
Let us start with an assumption that we all are familiar with ZIPIT now, the interbank transfer processor. With the ongoing cash crisis Zimbabwe is facing ZIPIT has grown in importance. The interbank processor connects 20 banks and allows any mobile registered user on any network to send money from their bank account to another […]
Since yesterday EcoCash users have been facing some challenges making payments. EcoCash acknowledged the system problems on Twitter in response to frustrated Twimbos who were asking. It is frustratingly slow to load if it even loads and EcoCash communicated that they are working to resolve the issue, on Twitter. Why not SMSs advising people that […]
DStv has reduced the price of its bouquets and added a new $7 budget bouquet. TelOne announced 2 products that included Wifi Home And Away for making use of your home wifi at any TelOne public wifi hotspot. Twitter is experimenting on a 280 character limit for tweets and Instagram gets some impressive numbers on […]
Yesterday, the 25th of September 2017, ZIPIT (Zimswitch Instant Payment Interchange Technology) went offline and as the interbank transfer processor has grown in popularity, panic gripped the populace. The facility which connects over 20 banks is integral to most people’s transactions especially as more and more Zimbabweans use mobile banking and plastic money. As thousands […]
Many people report that Zimswitch went down for around 3 hours in the afternoon of today. Due to the outage, several businesses were not able to process swipe transactions which rely on Zimswitch to be working. Apart from that, people were also not able to use ZimSwitch Instant Payment Interchange Technology (ZIPIT) to make transfers […]
Over the last couple of months a lot has been happening on the money side. Techzim has covered it extensively here but still we’re yet to see someone take time out and spell it all out for us – this is me doing it for myself and hopefully one, maybe two people will benefit. The Reserve Bank […]
CBZ Bank has so far registered at least 100,000 low cost banks accounts customers since the launch of their agency banking in June last year. The accounts, called SmartCash accounts, became a possibility when the Reserve Bank allowed for a lite banks account which customers can open using only their ID. Before now, we didn’t know exactly […]
Zimbawbean financial services concern FBC Holdings has increased POS terminals in the market and plans continued fintech investment in the wake of the country’s cash crisis.
Even after the recent downward review of the bank charges, the truth is that RTGSs (and people looking to access their cash have to make a lot of them) at $3 a transaction, are still quite expensive to do. And ofcourse EcoCash still charges the sender up to $7 for a $100 transfer to an unregistered number […]
The Reserve Bank of Zimbabwe (RBZ) has finally announced a new set of bank charges following an agreement between the regulator, the providers of payment platforms and the Bankers’ Association of Zimbabwe.
Meikles Financial Services (MSF), a subsidiary of the group that operates the hotel services, has announced the launch of what it says is its flagship product, the MyCash card; the arrangement backed up by a partnership with savings bank POSB. The card offers service inside TM Pick n Pay and outlets in Zimbabwe, allowing cashless transactions inside The card represents […]
The Meikles group is developing a loyalty card that is similar to the MyClub Card but looking to enhance it with banking services. Most conventional mobile money transactions are going to be covered by the card.
So after publishing a number of articles on the situation between the banks and Econet, about neutral access to the Econet GSM network, we’ve received a number of questions about what exactly the banks are being denied and what they want from Econet. So far we’ve talked of limited USSD functionality. Thought we could dedicate […]
Sources in the industry have exclusively told us that Econet has finally given in to the pressure of the banks, regulatory authorities to open up full USSD functionality for the ZimSwitch mobile money transfer services. Specifically, this means in the coming weeks and months, banks, through the ZimSwitch Shared Services platform, will be able to […]
The article below is a statement issued by ZimSwitch on the state and progress made with the ZimSwitch Shared Services payments switching platform. The statement was issued to us as part of the research that we made over the past few weeks for the article Zimbabwe: Of banks, Mobile Money and EcoCash. It has been a busy year […]
Many like myself are probably wondering about the future of Mobile Money in Zimbabwe. On one side we have EcoCash bullishly rolling out merchant after merchant gathering enough momentum to fully implement a system perhaps even more speedily adopted than M-Pesa of Kenya. On the other hand we have the banks under the banner of […]
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 […]
In September last year, we posted that FBC had introduced a new mobile banking service called Mobile Moola. They had and hadn’t. The advertising for the product died down and a visit to the bank’s head office in Harare to find out more about it only yielded that they weren’t ready to start talking about […]
Back in march when news first broke that ZimSwitch was working with Telecel to power mobile banking for local banks, the two banks that Telecel confirmed they were working with were CABS and POSB. CABS launched its mobile banking service (branded textacash) in September. As for POSB, ZimSwitch told us exactly month ago the bank was in “live pilot”.
Through adverts in the press today, POSB has announced that its mobile banking service is available to the public.