ZIMBABWE’S financial sector has taken a significant step towards affordable, secure and efficient regional payments after ZB Financial Holdings partnered with PayInc and SendHome to launch a 24/7 digital cross-border payments system linking Zimbabwe and South Africa.
The platform, which went live on 15 October 2025, is built on PayInc’s Transactions Cleared on an Immediate Basis (TCIB) infrastructure and integrates directly with SendHome and ZB Bank systems.
The initiative aims to deliver faster, cheaper and more secure cross-border payments for 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 in South Africa regularly send money home. Remittances remain a critical income source, yet high costs and fragmented systems have long undermined efficiency.
The statement said, “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, stressed the broader economic impact of the development.
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.”
She added that long-standing inefficiencies in the corridor required urgent modernisation.
“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, the Southern African Development Community (SADC) Regional and Settlement System Operator (RSCO), has played a central role in building the TCIB scheme, launched in 2021. The network already spans South Africa, Zambia, Namibia, Lesotho and Eswatini, with Zimbabwe joining as part of wider regional expansion.
Ms Sunker said the latest deployment marked an important milestone in regional integration.
“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.
“At ZB Financial Holdings, we believe that improving lives through service means breaking barriers that limit access to opportunity. 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.
“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,” said Rudo Manjengwa, executive head of retail and digital banking at ZB Financial Holdings.
She said the partnership aligns with ZB’s broader digital transformation and sustainability strategy.
“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 between the two countries by providing businesses with a real-time, efficient way to settle cross-border payments. Such systems could reduce dependence on cash and informal channels while improving transparency and regulatory oversight.
With digital payments rapidly expanding across southern Africa, the partnership signals a shift towards integrated, region-wide financial infrastructure — one that could reshape cross-border transactions and strengthen financial inclusion across one of the continent’s busiest economic corridors.-herald
