Paynet Zimbabwe services are back online after the service went offline, cutting off local banks following failure to pay external licence fees.
Paynet is the electronic payments processing system offered to the market through Financial Institutions. With Paynet, clients can pay creditors, salaries, taxes, pension contributions, collect revenue and make use of e-schedules. Many institutions in Zimbabwe use Paynet to make automatic mass payments such as salary disbursements.
The payments platform is now back online after the Reserve Bank of Zimbabwe came to its rescue and some bank employees are now working overtime to make up for lost time. The system was down on Tuesday and for some hours on Wednesday. Bankers’ Association of Zimbabwe Chief Executive Officer Mr Sijabuliso Biyam yesterday confirmed the matter and said the issue had since been resolved.
The Reserve Bank of Zimbabwe (RBZ) is the central bank of Zimbabwe. Its offices are located at number 80 Samora Machel Avenue in Harare. The Reserve Bank of Zimbabwe operates under the Reserve Bank of Zimbabwe Act, Chapter 22: 15 of 1964. The Act provides... Read More About Reserve Bank of Zimbabwe