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Business Reporter
POSTAL services provider Zimpost has launched a new money transfer service called Zipcash which allows Zimbabweans to send and receive money locally and internationally through the postal network worldwide. Speaking at the launch of the second Zimpost “Unpack a Box” promotion in Harare on Monday, Information Communication Technology, Postal and Courier Services Minister Webster Shamu praised the company’s innovation.

“Zipcash is a money transfer service that sits on an electronic platform called IFS and allows for domestic and international money transfer. Let me thank the Reserve Bank of Zimbabwe for allowing Zimpost to transfer money outside Zimbabwe.

“With a network of 760 000 post offices worldwide, money transfer has been made easy and convenient through Zipcash and this will enable easy transfer of university fees and cash for cross-border traders.

“It will also allow for Zimbabweans in the Diaspora to send money back home through the post office,” he said.
Zimpost general manager Mr Douglas Zimhango said the IFS system which the company will be using was developed by the Universal Postal Union, the mother body of all post offices in the world.

“This system has low operating costs compared to other money transfer agencies that operate in the world as post offices are meant for the people,” he said.

Mr Zimhango added that the RBZ gave them the authority to transfer money locally and internationally.
He also said that the People’s Own Savings Bank will be acting as an agent facilitating the mobile banking platform for this service.
The company launched the second edition of “Unpack a Box” promotion in partnership with NetOne, Econet Wireless, Henlow Stationery Distributors, Courier Connect, POSB, Champions Insurance and NicozDiamond.

The promotion will be run for a period of three months until mid-January 2014 during which monthly prizes will be won.
The total value of this year’s promotion was about US$400 000 with prizes such as motor vehicles, generators, Samsung Galaxy phones and fridges to be given away  to lucky winners.

The main purpose of the Christmas promotion is to generate awareness on Zimpost’s new services and products outside the traditional letter post business while increasing brand visibility.