MICROCAPITAL BRIEF: Smart Payment Solutions to Offer Debit, Prepaid Cards in Zimbabwe

Smart Payment Solutions, a Zimbabwe-based company, is introducing a cashless banking system that will allow paperless transactions through the use of prepaid and debit cards issued through retail and community agents. The fee structure and related details are unavailable.

According to FinScope Consumer Survey Zimbabwe 2011, a report by a local unit of nonprofit financial inclusion advocacy group Finmark Trust of South Africa, 40 percent of Zimbabwe’s population is financially excluded, with 12 percent of the rural population accessing banking services.

About FinScope Trust
Established in 2002 in South Africa, FinMark Trust is a nonprofit, independent trust funded primarily by the UK’s Department for International Development (DfID). Its main goal is to “make financial markets work for the poor, by promoting financial inclusion and regional financial integration.” It does so by conducting research on financial policy and regulation, savings, consumer financial empowerment, housing finance and payment systems. FinScope Trust works in 12 countries in Africa.

Sources and Additional Resources

[1] http://www.mfw4a.org/news/news-details/2/new-cashless-banking-solution-l…

MicroCapital.org article, April 9, 2012, “MICROCAPITAL BRIEF: BancABC Zimbabwe to Launch Microfinance, ABC Holdings Plans to raise $50m in Capital,” https://www.microcapital.org/microcapital-brief-bancabc-zimbabwe-to-launc…

MicroCapital.org article, February 22, 2012, “MICROCAPITAL BRIEF: Lacking Credit Bureau, Zimbabwean Microfinance Struggles with Consumer Protection,” https://www.microcapital.org/microcapital-brief-bancabc-zimbabwe-to-launc…

MicroCapital.org Universe Profile Finmark Trust of South Africa: https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Fin…

Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/

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