Zimpost has launched a new money transfer service called Zipcash. Zimbabwe Posts (Pvt) LTD trading as Zimpost is the. leading postal, communication and financial services provider in Zimbabwe
Speaking at the launch of the second Zimpost “Unpack a Box” promotion in Harare on Monday, Information Communication Technology, Postal and Courier Services Minister Webster Shamu praised the company’s innovation.
“Zipcash is a money transfer service that sits on an electronic platform called IFS and allows for domestic and international money transfer. Let me thank the Reserve Bank of Zimbabwe for allowing Zimpost to transfer money outside Zimbabwe.
“With a network of 760 000 post offices worldwide, money transfer has been made easy and convenient through Zipcash and this will enable easy transfer of university fees and cash for cross-border traders.
“It will also allow for Zimbabweans in the Diaspora to send money back home through the post office,” he said.
“This system has low operating costs compared to other money transfer agencies that operate in the world as post offices are meant for the people,” he said.
Mr Zimhango added that the RBZ gave them the authority to transfer money locally and internationally.
He also said that the People’s Own Savings Bank will be acting as an agent facilitating the mobile banking platform for this service.