Zimbabwe’s online payment platform Paynow says it wont be adopting bitcoin as a payment method owing to skepticism surrounding the currency.
Paynow is a platform which operates like the American PayPal which offers a variety of online payment services.
By TechnoMag Reporter
Speaking at a workshop at Moto Republic on Thursday, Paynow operations manager Mellisa Fernandes said they were not ready to consider bitcoin.
“For now we are not ready to consider bitcoin for it’s a bit tricky. Bitcoin is not in our plans for now,” she said.
Zimbabweans have for long been struggling to pay items via Paypal an American based payment system.
PayPal Holdings, Inc. is an American company operating a worldwide online payments system that supports online money transfers and serves as an electronic alternative to traditional paper methods like checks and money orders.
“Paynow is a trading name of Softwarehouse (Private) Limited, a Payment Service Provider which is a member of the Webdev Group,” reads their website.
“Accept most popular electronic payment methods (Card and m-commerce) under a single contract,” said the company.
Paynow has other features which are absent on Paynow such as buying airtime and payment of subscription bills.
The company has about 550 verified merchants which include all the banks which are on Zimswitch, ZOL Zimbabwe, My Kitchen among others.
PayNow leverages its technology and experience to detect and prevent fraud. All customer and transaction data is encrypted for security.
When registering, there are no setup costs, no standing fees – just a simple, low-cost transaction based charge.
With their Escrow facility merchants who sign up to the platform are guaranteed the trust of their customers with complete mediation.