Zimpost’s Zipcash Extends to Botswana

Zimpost‘s recently launched money transfer service, Zipcash, has been extended to Botswana.With effect from 27 August 2014, Zipcash customers can now send or receive money to and from Botswana. Plans to extend the same service to South Africa are also at an advanced stage, with testing already concluded.

Zimpost launched Zipcash in December 2013. The system allows customers to securely send / 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 (UPU). It has capacity to connect 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.

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. 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.