Zimswitch is working on upgrading their Zimswitch Instant Payment Interchange Technology (ZIPIT) system which allows bank customers to receive more detailed transaction notifications.
At the moment, customers receive account details without the name of the benefactor. Speaking to TechnoMag during the just ended Harare Agricultural Show, an official manning the Zimswitch stand told TechnoMag they are on the second phase of the upgrade project.
“We are now on phase two of the Zipit upgrade project where the users especially recipients of funds can know who would have send them money.
“We expect to complete this phase soon. This upgrade is similar to the Ecocash system where one can see who sent them money,” she said.
A test run of this upgrade is ongoing upgrade with CBZ and some few banks on Zipit as customers get to know who is sending them funds.
It falls upon banks to modify their systems so that their customers can enjoy this new update,” added the customer.
The new update comes in handy for customers who will no longer wonder the name of the benefactor.
With Zipit,any mobile registered user on any network can send or receive money. Most banks in Zimbabwe have integrated their services with Zipit. Barclays Bank is the latest bank to join the Zipit club.
Via Zipit, one is able to buy airtime and transfer airtime to another mobile user. ZIPIT enables a person to send funds instantly from a Zimswitch member bank to another member bank and funds are received instantly.
ZIPIT also enables a person to transfer funds from the bank to the mobile wallet.