$300,000 for Zimpost’s Zipcash money transfer just three months after launch

Zipcash, the money transfer service from Zimpost is reported to have earned $300,000 in commissions during the period between October and December 2013 according to reports in today’s Herald. The state owned postal service company (Zimpost) launched Zipcash in October 2013 as a replacement or upgrade of the traditional money order system that was in place at Zimpost

The “international” Zipcash is available in one other country (Tanzania) and it’s transactions in the local market that accounts for the revenues received so far.

“On the local market it is working out very well. We have earned close to US$300 000 as commission from local transactions since October when we launched it to December which is quite encouraging,” he said.

Zimpost Acting Managing Director, Mr Douglas Zimbango

Zipcash has not gained much success in expanding the service beyond our borders largely because of red tape but the company is expecting to have that out of the way in South Africa and other countries by the end of this month.

Source: Herald