About Payments sector in Zimbabwe
The Payments sector in Zimbabwe comprises 28 companies. Out of these, 1 is Series A+ funded.
Payments sector in Zimbabwe has seen 1 acquisition.
This sector includes companies which participate in traditional web based and offline payment cycle. Also includes companies which provide alternative mode of payment, companies which support the payment companies in terms of security, analytics, platform etc.
Payments sector is also known as Payments Tech, paytech or e-payments.
Gateways, PoS, Processors, Network, Wallets. Also includes companies which provide alternative modes of payment (cash, barter etc.), companies which support the payment companies in terms of security, analytics, platform etc. Mobile-based payment companies, payment card issuers, traditional banks which act as acquirers, b2b invoice settlement companies are excluded.
Top Payments Companies in Zimbabwe
Here is the list of top Payments startups in Zimbabwe
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1. EcoCash
App-based platform for mobile payment solutions. The business provides a payment option that enables clients to do financial transactions directly from their smartphones. It enables users to pay for goods and services, sends money to loved ones, purchase airtime, and do much more.
Key facts about EcoCash
- Founded Year: 2011
- Location: Harare (Zimbabwe)
- Stage: Unfunded
- Tracxn Score: 41/100 What is this?
- Competitors Rank: 1 of 2 Competitors
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2. MyCash
MyCash offers a card-linked wallet to consumers. It offers services such as airtime recharge, money transfer, and bill payments. It also offers payroll services to businesses. It also offers a prepaid card that can be recharged through the wallet.
Key facts about MyCash
- Founded Year: 2014
- Location: Harare (Zimbabwe)
- Stage: Unfunded
- Tracxn Score: 38/100 What is this?
- Competitors Rank: 2 of 7 Competitors
3. Sasai
Sasai provides a wallet for consumer payments. It provides various services including money transfers, bill payments, chat portal, payments splitting, music streaming and more. It facilitates payments via credit/debit cards and bank transfers. It can be accessed through the app that is available on Android and iOS devices.
Key facts about Sasai
- Founded Year: 2019
- Location: Harare (Zimbabwe)
- Stage: Unfunded
- Tracxn Score: 36/100 What is this?
- Competitors Rank: 469 of 3,080 Competitors
4. Paynow
Paynow is a Zimbabwe-based online payment gateway. Merchants can integrate the payment API with their online portal to receive payments through debit/credit cards. No setup fee involved and they charge variable commission fees based on the payment method. Merchants can also pay utility bills and make payments to trading partners. Also provides payment links.
Key facts about Paynow
- Founded Year: 2013
- Location: Harare (Zimbabwe)
- Stage: Unfunded
- Tracxn Score: 30/100 What is this?
- Competitors Rank: 13 of 35 Competitors
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5. ICECash
ICEcash provides agent-based payment solutions. Its services include airtime recharge, loyalty cards, prepaid tolling cards, insurance services, money transfer, and cash withdrawal.
Key facts about ICECash
- Founded Year: 2015
- Location: Harare (Zimbabwe)
- Stage: Unfunded
- Tracxn Score: 28/100 What is this?
- Competitors Rank: 3 of 4 Competitors
Companies founded year-on-year in the Payments sector in Zimbabwe
5 Payments startups in Zimbabwe were founded in 2019 - this is the most number of startups founded in any year in the last 10 years.
- Total Number of Companies
Year | No. of companies |
|---|---|
2026 | - |
2025 | - |
2024 | - |
2023 | - |
2022 | - |
2021 | 3 |
2020 | - |
2019 | 5 |
2018 | 1 |
2017 | - |
M&A activity in Payments sector in Zimbabwe
In the year 2016, till June 2016, 1 acquisition happened in Payments sector in Zimbabwe.
Here are some recent, important acquisitions in Payments sector in Zimbabwe:
Company | Acquisition Type | Acquisition Date | Acquirers |
|---|---|---|---|
Acqui-Hired | Jun 03, 2016 |
Top News in Payments in Zimbabwe
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EcoCash ends loss making as profit soars in H1Telecompaper•Nov 14, 2023•EcoCash, Econet Wireless Zimbabwe
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EcoCash partners PayPal's Xoom for international remittancesTelecompaper•Jun 29, 2022•EcoCash, Xoom, Thunes, PayPal
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EZ-Link Partners With Mastercard for Greater Digital Payments CapabilitiesFinTechnews•Apr 29, 2022•EZ-Link, Mastercard, Zimswitch
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OCBC customers to get alerts for all PayNow, FAST transfer transactionsThe Business Times•Jan 21, 2022•OCBC Bank, Paynow, fast.com
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Singaporean Digital Assets Trading Platform Sparrow to Accept PayNow TransfersCrowdfund Insider•Nov 25, 2021•Paynow, Sparrow Exchange
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BancABC partners Mastercard and Zimswitch to Revolutionise Digital Payment in ZimbabweInnovation-village•Oct 22, 2021•BancABC, Mastercard, Zimswitch
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A Partnership Between Mastercard and Zimswitch for Zimbabwe’s Payments Sector TransformationTech In Africa•Jan 09, 2021•Mastercard, Zimswitch