Zimswitch at ZITF 2022: EFT NOSTRO, Debit Orders, Point of Sale Wallet and More

The National Payments Switch, Zim switch was an exhibitor at the Zimbabwe International Trade Fair (ZITF 2022). It seems their primary mission for this year’s edition of ZITF was to interface with customers (business and individual) about who they really are and what they do.

For anyone who doesn’t know (this will most certainly be the minority)Zimswitch was named a National Payments Switch by the Reserve Bank of Zimbabwe in 2020. This has helped the company usher in an era of interoperability, which essentially means you and I can send money over n any EcoCash, OneMoney and Telecash bank account or wallet directly. .

This announcement also ushered in a number of products from Zimswitch like ZIPIT Smart, which is basically like “EcoCash”, but you’ll be using money from a bank account that has fewer limits than a mobile money wallet. ZIPIT Smart also works a bit like a point of sale (POS) machine but on a mobile phone for informal merchants who want to be able to support card transactions but do not have the funds to buy or rent a POS machine.

Video: Zipit Smart brings EcoCash functionality to your bank account

Zimswith is also launching a bundled payment solution called ZeePay that supports EFT (batch) credits – low value and high volume (bulk) payments for bulk interbank disbursements, real-time (single) credits – payments low value unique and EFT (lot) debits. These payment flows can be person-to-person (P2P), person-to-business (P2B), business-to-person (B2P) or business-to-business (B2B).

ZEEPAY from Zimswitch offers a range of bulk payment solutions

The ZImswitch team sent to Bulawayo were kind enough to show us around their booth and review new and old developments. You can watch Zimswitch at ZITF 2022 with the player below or watch it directly on YouTube with the link here.

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