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By Ross Moyo
Zimswitch, Zimbabwe’s national electronic payments switch and the leading payments technology company in the country has been recognized for it’s unparalleled lead in the fintech sector.It was founded in 1994 with the goal of solving the daily challenges consumers face when transacting. Zimswitch’s primary objective is to provide a secure, instant, and seamless digital payment experience.
The company has made significant strides in promoting financial inclusion in Zimbabwe. For instance, “the ZIPIT solution, which was introduced in 2011, allows customers to transact instantly across banks and mobile wallets, bringing millions of mobile money subscribers into the formal financial system.”
Zimswitch has also introduced several innovative solutions to enhance the payment experience. In 2021, it introduced the “Contactless Card supported by Near Field technology, a first of its kind in the region, redefining the way customers make payments through the tap to pay for faster checkout.
The company has also partnered with ACI Worldwide to strengthen Zimbabwe’s digital payment security. This partnership reflects Zimswitch’s commitment to innovation and security, ensuring that Zimbabwe’s digital payments landscape remains robust as it continues to evolve.
Zimswitch has also formalised a strategic partnership with the Deposit Protection Corporation aimed at enhancing financial inclusion, digital transformation and public trust in the country’s financial sector.
Overall, Zimswitch is playing a critical role in driving digital payments adoption in Zimbabwe and promoting financial inclusion in the country.
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