ZIMPOST plans to extend its money transfer service, Zipcash, to South Africa after it successfully launched the same service in Botswana recently, Southern Eye Business has established. MTHANDAZO NYONI OWN CORRESPONDENT
The company’s communications officer Anna Munembe said through the service, Zimbabweans in the Diaspora could now send money back home.
“Plans to extend the Zipcash service to South Africa are at an advanced stage, with testing already concluded,” Munembe said.
Zimpost recently launched money transfer service, Zipcash in Botswana and the extension of the service to cover South Africa is poised to bring convenience to Zimbabweans with relatives working in those countries.
Munembe said the domestic Zipcash money transfer service enabled customers to send or receive money throughout Zimbabwe.
She said Zimbabweans could now send fees, bus fare and pocket money to their children at boarding schools or parents and relatives in the rural areas at low rates.
With a network of 227 outlets, nationwide, she said Zimpost was well represented even in the most remote areas.
This, according to her means that with Zipcash, the recipient does not get charged any service fees upon collection of their funds.
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Zimpost launched Zipcash in December 2013.
The system allows customers to securely send or receive money locally and internationally through the postal network.
Zipcash is a money transfer service that sits on an electronic platform called international financial system developed by the Universal Postal Union.
It is a low-cost way of sending and receiving money with a once-off payment at point of sending with the receiver not paying anything. Within Zimbabwe, Zipcash has very affordable rates which are almost half of other service providers as fixed costs are spread over the large international postal network.
The service has a capacity to connect over 600 000 post offices worldwide subject to bilateral arrangements between countries.
The platform allows instant money transfer even for those without a bank account.
