Zipcash Eyes 5percent Market Share in 2017

STATE owned postal courier and ICT services provider Zimpost is pursuing 5 percent of the local money transfer services by year end with its electronic money order platform Zipcash.

In an emailed response to TechnoMag’s questions, Zimpost said  they intend to meet their target through adding United Arab Emirates, Malawi and Uganda to its mix of international transacting partners among other measures.

Internationally,  Zimpost is currently transacting with postal administrations in Lesotho, South Africa, Botswana, Kenya, Nigeria and Tanzania.

“Zimpost’s target is 5% of the market share by end of the year. Negotiations are currently underway with United Arab Emirates (UAE), Malawi and Uganda to enable the general public to transact with their partners in these countries.

“The company is also engaging a number of International Money transfer companies and the progress to date has been pleasing,” said the company.

Zipcash BY Zimpost

The company added, “Zimpost has the widest and most diversified retail network in the country and would like to fully leverage on that network for money transfer services.”

People who wish to send or receive money with the service have to visit the Post Offices rather than doing it on a mobile phone.

“Zipcash accounted for less than the target of 5% of the market in the first quarter. The company is working towards improving its share of the money transfer market.

“The biggest challenge has been that the Zipcash solution is not on a mobile platform and its customers have to physically visit a post office to transact,” said Zimpost.

According to Zimpost, Zipcash has  experienced growth since inception due to its cheapest rates on money transfers and the customers see value in transacting with us.

Zipcash is Zimpost’s electronic money transfer service available at it’s over 240 outlets dotted around the country.

“Zipcash can be accessed by anyone without necessarily being tied to a bank account.One can send money at one postal outlet and the recipient can collect the money at a postal outlet nearest to them. Only the sender is charged for the transaction,” added Zimpost.



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