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Banks-Paynet showdown!: Customers pay the price

Zimbabwean banks have been shutdown from Paynet, a platform used to process Real-time Gross Settlements as well ZipIt transactions in protest of the later’s principals Payserv Africa demanding charges in United States Dollars against local transactions.

“We regret to inform our valued clients that Payserv Africa have suspended Paynet services to all banks due to non-payment of service fees,”  Paynet said in a statement.

“If you would like to continue using Paynet, please contact your bank and request they address this with Payserv Africa to have service reinstated.” added.

The move have left the customers badly affected as transactions are now being processed manually and delays and backlogs now beyond a 48Hrs period at average.

Sources close the the Bankers Association of Zimbabwe has reliably indicated the Banks are hoping the crisis will intimate government interference and arm-twist Paynet to accept local payments, meanwhile the customers across all banks are paying heavily already with one Ecobank customer claiming he has lost a relative at a local hospital after payment for urgent medical attention could not reflect in over 24Hrs.

“Sadly, I have lost my sister, perhaps if my ZipIt transaction had gone through as should, we would most probably be in a different position. Ecobank has deeply hurt me and have lost a customer in me”, said the customer who refused to be identified.

Meanwhile on the street money market, the greenback has hit the 10point mark, making one US dollar getting ZWL1000.00 bond by ecocash or transfer.

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About Simbarashe Nyanhanga