adminZipcash, the money transfer services platform owned by local postal services Zimpost is handling over $4 million in transactions every month, according to Dr Douglas Zimbango, the Zimpost chief executive officer.
Zipcash currently provides remittance services from South Africa, Botswana, Tanzania, Nigeria and Kenya. The service uses the International Financial System (IFS), which is an electronic platform curated by the Universal Postal Union (UPU) and is resident in every national postal network.
Zimpost, said Dr Zimbango, is anticipating turnover for the financial year to exceed $16 million powered by the growth of Zipcash. This optimism and faith in Zipcash is also being influenced by the work being carried out by the Universal Postal Union to turn the International Financial System into a mobile platform.
A lot of the excitement around Zipcash seems justifiable. Not only is the service experiencing a steady growth, but there is still room for expansion as the service taps into the UPU’s global network of post offices. Zipcash has the potential to offer remittance services from the highest number of countries, something that other local remittance players that now include mobile money entities like Telecash and EcoCash, have had to maneuver through partnerships with other service providers. – Techzim.
Online Reporter