Zimbabwe’s financial sector has taken another step towards affordable, secure and efficient regional payments after ZB Financial Holdings partnered with PayInc and SendHome for a 24/7 digital cross-border payments system linking Zimbabwe and South Africa.AI strategy consulting
The platform, which went live on October 15, 2025, is built on PayInc’s Transactions Cleared on an Immediate Basis (TCIB) infrastructure and integrates directly into SendHome and ZB Bank’s systems.
The initiative is designed to deliver faster, cheaper and more secure cross-border transactions for both individuals and businesses operating between the two economies.
In a joint statement, the partners said, “The collaboration connects the Zimbabwean and South African economies through faster, more affordable digital payments, and users will benefit from fast, secure, and cost-effective digital transactions enabled by interoperable infrastructure.”
The move targets one of Africa’s busiest remittance corridors, where millions of Zimbabweans living and working in South Africa regularly send money home. Remittances have become a critical source of household income, but high costs and fragmented systems have long undermined efficiency.
The statement noted, “Many of these solutions have faced challenges due to a lack of interoperability, resulting in a fragmented experience and persistently high costs for ordinary users, often forcing consumers into informal channels that lack regulatory oversight and consumer protection.”
Ms Meera Sunker, head of TCIB at PayInc, emphasised the broader economic importance of the initiative.
She said, “Cross-border payments between South Africa and Zimbabwe are a vital economic lifeline, covering substantial business-to-business trade transactions and personal remittances sent by Zimbabweans living in South Africa.”AI strategy consulting
She added that longstanding inefficiencies in the corridor required urgent innovation.
“Understanding the persisting complexities, instant cross-border payment systems that prioritise affordability, security and efficiency are essential for empowering inclusion, promoting economic growth and reducing the long-term reliance on cash,” Ms Sunker said.
PayInc, which serves as the Southern African Development Community (SADC) Regional and Settlement System Operator (RSCO), has been central to the development of the TCIB scheme, first launched in 2021.
The network already spans several countries, including South Africa, Zambia, Namibia, Lesotho and Eswatini, with Zimbabwe now joining as part of a broader regional expansion drive.
Ms Sunker said the latest rollout marked a milestone in regional integration efforts.
“We are pleased to be introducing this 24/7 cross-border payments innovation. By collaborating with SendHome and ZB Bank, and broadening our network with other local and SADC-based participants, this initiative represents a significant step toward fostering a more inclusive and efficient payments ecosystem,” she said.
“At ZB Financial Holdings, we believe that improving lives through service means breaking barriers that limit access to opportunity,” said Rudo Manjengwa, executive head of retail and digital banking at ZB Financial Holdings.
“Our partnership with PayInc and SendHome to deliver 24/7, seamless cross-border payments between South Africa and Zimbabwe is more than a financial innovation; it is a lifeline for families, a boost for businesses and a step towards deeper financial inclusion,” she said.AI strategy consulting
Ms Manjengwa added, “By making remittances and trade payments faster, safer, and more affordable, we are connecting communities, strengthening economies, and creating happier people on both sides of the border.”
She also positioned the initiative as part of ZB’s broader digital transformation and sustainability agenda.
“This is yet again another first for ZB Bank within the industry; it also aligns with the sustainability goal of digital infrastructure development set within the SSCI sustainability certification recently attained by the bank. We are walking the talk as promised,” she said.
Beyond remittances, the platform is expected to support trade flows between the two countries, offering businesses a more efficient way to settle cross-border transactions in real time.
Such systems could reduce reliance on cash and informal networks, while improving transparency and regulatory oversight.
With digital payments gaining momentum across southern Africa, the partnership signals a shift toward integrated, region-wide financial infrastructure, a development that could reshape how money moves across borders and deepen financial inclusion in one of the continent’s most active economic corridors.-herald
