By Dakarai Mashava
ZB Bank (ZB) has teamed up with United Kingdom-headquartered cross-border payments enabler, Zympay, to facilitate digital payments for school fees both locally and from the Diaspora.
ZB Financial Holdings Limited chief executive Ronald Mutandagayi said the initiative, which was launched in Harare yesterday, was part of the diversified banking institution’s efforts to facilitate simple, cost-effective and convenient payment of school fees.
“Education is a fundamental investment for any family, and providing innovative but simple ways for families to pay school fees is vital. We are delighted to strategically partner with Zympay to provide an innovative way for clients locally and in the Diaspora to support their loved ones in making direct school fee payments,” said Mutandagayi.
Unlike other available payment systems, the ZB CEO said the Zympay facility provides an audit trail.
“This partnership will offer our schools, universities and colleges a payment solution that ensures fees are paid on time, directly into the ZB account with all reference details available,” he said.
He added that the digital school fees payments facility is in line with ZB Bank’s strategic focus which seeks to revamp its technological infrastructure as part of efforts to improve the digital delivery of its services.
“ZB continues on its strategic drive towards creating digital platforms that offer greater convenience, reduce costs of transaction and give our customers more value.
“This year we officially launched our refreshed internet banking platform which also came with an application that allows customers to do RTGS payments in the comfort of their home or office,” said ZB chief executive officer.
Zympay’s chief executive officer, Zimbabwe-born Dakshesh Patel, hailed the partnership between his award-winning organisation and ZB Bank.
“Digital solutions that support financial inclusion and supporting initiatives to make payments for education and healthcare easier are at the core of our value proposition.
“We are delighted and privileged to strategically partner with ZB Bank to support and deliver such a simple but vital solution to support Zimbabweans in the Diaspora.
“We look forward to developing many more financial services solutions to enable easier access to the country for Diasporans and investors seeking to make cross-border payments,” said Patel.
In addition to facilitating a real-time payment, Patel said the Zympay facility is considerably cheaper.
“The available payment systems are very expensive…Zympay provides convenience, gives sender control and is at a lower cost,” said Patel. DailyNews