ZimSwitch is a payments technology company in Zimbabwe. It was founded in 1994 through a collaboration of several banks in Zimbabwe. The core service ZimSwitch provides is interoperability between the different financial services in Zimbabwe, allowing customers of one financial institution to transact with and sometimes through other financial institutions.
|Financial Technology Company|
|Founded||in Harare, Zimbabwe|
ZimSwitch is regulated in terms of the National Payment Systems Act and regulations as issued by the Reserve Bank of Zimbabwe.
As a company offering interoperability, ZimSwitch strength is in the number of members on its 'switch'. The following were ZimSwitch members as at May 2018:
- Barclays Bank
- FBC Bank
- Stanbic Bank
- Standard Chartered Bank
- Steward Bank
- ZB Bank
Depositing Taking Microfinance Institutions
Sponsored Payment Service Providers
- Electronic transaction switching
- Clearing and settlement
- Risk management on behalf of participants