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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: Apps , POS , USSD , ATM , Branch , Agent

Use cases: Transfers & remittances (P2P) , Merchant payments (P2B) , Fees & taxes (P2G) , Social disbursements (G2P) , Business purchases (B2B) , Salaries & wages (B2P)

Inclusivity level: Basic

Year of establishment: 2013

System owner: Zimswitch

Overseer: Reserve Bank of Zimbabwe

Operator: ZimSwitch

Total Participants: 20

Volumes 2021: N/A

Values 2021: N/A

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CategoryZimswitch Instant Payment Interchange Technology (ZIPIT)
Geographic reachDomestic
Geographic descriptionZimbabwe
Scheme governanceZimSwitch
Settlement agentReserve Bank of Zimbabwe
Participants - commercial banks13
Participants - MMOs3
Participants - non-bank PSPsN/A
Participants - MFIs4
Volumes 2018N/A
Volumes 2019N/A
Volumes 2020N/A
Volumes 2021N/A
Values 2018N/A
Values 2019N/A
Values 2020N/A
Values 2021N/A
Governance TypologyPrivate association
Messaging standardISO 8583
Types of proxy IDsN/A
Use of open APIsNo
QR code standard No
Pro-poor governanceYes

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