ZimSwitch and Visa to strengthen Zimbabwe’s payment sector

ZimSwitch 6 MayZimSwitch, Zimbabwe’s national switch and clearing house, has partnered with Visa with an aim to accelerate remittance services

According to ZimSwitch, the partnership is set to enable clients to make domestic and international transactions with one co-branded card, an initiative that is set to increase convenience while decreasing costs.

The EMV-enabled cards will ensure that all transactions are safe. It will function across payment methods including e-commerce, mobile payments, QR Code transactions and tokenisation.

Maurice Newa, managing director of Visa’s southern Africa cluster, said that initiative is in line with Visa’s aim to expanding the payments landscape across Africa. 

Newa further added that Visa is excited to partner with ZimSwitch and bring growth in the country’s digital transformation journey.

In September 2020, Zimswitch partnered with Mastercard to enable the modernisation of Zimbabwe’s payment infrastructure, using Mastercard’s technology, products and services. This partnership will further support the Reserve Bank of Zimbabwe’s vision of a modernized and interoperable payment system that supports inclusive economic growth and boosts the digital economy.

Zimbabwe has witnessed a significant shift in growth of electronic payments over the last few years and we are delighted by Mastercard’s commitment to driving Zimbabwe’s digital agenda, which demonstrates confidence in our market. The ultimate aim of this partnership is to unlock best-in-class payment solutions that will position Zimbabwe at the forefront of the global financial system. This will further help us to boost investment, while making it easier for people, and businesses to transact,” stated Wonder Nyabereka, Zimswitch’s board chairman.

 

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