Zimbabwe’s postal service firm Zimpost last month launched its money transfer service, Zipcash in Botswana to help users send or receive money to and from Botswana and everyone thought it was satisfied.
However, the firm says it plans to extend the same service to South Africa and testing has already been concluded.
The money transfer service runs on the Universal Postal Union’s International Financial System platform which is connected to 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.
Launched in December 2013 in Zimbabwe, Zipcash 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. The system allows customers to securely send / receive money locally and internationally through the postal network.
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. Zimbabweans in the Diaspora can send money back home through this wide international network. The extension of the service to cover Botswana is poised to bring convenience to Zimbabweans with relatives working in Botswana, who are now able to send cash back to them at affordable rates.
The domestic Zipcash money transfer service enables customers to send or receive money throughout Zimbabwe. With a network of 227 outlets, nationwide, Zimpost is well represented even in the most remote areas. This means that Zimbabweans can 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 Zipcash, the money recipient does not get charged any service fees upon collection of their funds.