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Zimbabwe
Zimswitch Instant Payment Interchange Technology (ZIPIT)
Scheme name: Zimswitch Instant Payment Interchange Technology (ZIPIT)
IIPS Type: Cross-domain
Instruments: Credit EFT, E-money, Card
Channels: , POS, USSD, ATM, Branch, Agent
Use cases: Transfers & remittances (P2P), Merchant payments (P2B), Fees & taxes (P2G), Social disbursements (G2P), Inventory & business services (B2B), Salaries & wages (B2P)
Inclusivity level: Basic
Year of establishment: 2013
System owner: Zimswitch
Overseer: Reserve Bank of Zimbabwe
Operator: ZimSwitch
Total Participants: 20
Back to map| Category | Zimswitch Instant Payment Interchange Technology (ZIPIT) |
|---|---|
| Geographic reach | Domestic |
| Geographic description | Zimbabwe |
| Scheme governance | ZimSwitch |
| Settlement agent | Reserve Bank of Zimbabwe |
| Participants - commercial banks | 13 |
| Participants - MMOs | 3 |
| Participants - non-bank PSPs | N/A |
| Participants - MFIs | 4 |
| Volumes 2018 | N/A |
| Volumes 2019 | N/A |
| Volumes 2020 | N/A |
| Volumes 2021 | N/A |
| Values 2018 | N/A |
| Values 2019 | N/A |
| Values 2020 | N/A |
| Values 2021 | N/A |
| Interoperability arrangement | Third party |
| Ownership model | Participant-owned |
| Governance Typology | Private association |
| Messaging standard | ISO 8583 |
| Types of proxy IDs | N/A |
| Use of open APIs | No |
| QR code standard | No |
| Pro-poor governance | Yes |
| All licensed PSPs can participate (all-to-all interoperability) | Yes |
| Recourse | Yes |
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