EcoCash has announced that Zimswitch transactions are intermittent adding that technicians were working diligently to restore normal service as soon as possible.
In a statement seen by Pindula News, the mobile money transfer platform said all other EcoCash services, including banking services, send money, airtime, merchant and bill payments, and domestic money transfer services (cash in, cash out, send money, and airtime) are functioning normally. Reads the statement:
Dear Valued Customer
Please note that Zimswitch transactions are intermittent. Our technical team is working to restore normal service at the earliest.
We apologise for any inconvenience caused.
All other EcoCash services are working normally (Banking services, Send money, Airtime, Merchant and Bill payments) and Domestic Money Transfer services (Cash in, Cash out, Send money and Airtime)
Every EcoCash Customer already has an active USD wallet.
Zimswitch is a Zimbabwean company that provides financial switching and electronic payment processing services. It connects different banks and financial institutions, allowing them to exchange financial transactions with their customers. Zimswitch provides a platform for various electronic payment systems, including ATMs, point-of-sale (POS) devices, mobile banking, and Internet banking.
When a customer uses their debit or credit card at an ATM or POS device, for example, the transaction is processed through the Zimswitch network. The transaction is first sent to the customer’s bank, which then sends it to Zimswitch. Zimswitch then routes the transaction to the appropriate bank that holds the account of the merchant or recipient. This process ensures quick and seamless transfer of funds between different financial institutions in Zimbabwe.
The malfunctioning of Zimswitch can cause transaction delays, limited access to funds, and loss of revenue.