HARARE – The People’s Own Savings Bank (POSB) has partnered with global payments firm Mastercard to roll out a new international money transfer platform that will allow customers in Zimbabwe to send funds abroad more quickly and securely.
The service, branded POSB Remit Outbound, enables customers to transfer money from Zimbabwe to bank accounts, mobile wallets or designated cash pick-up points across 21 countries, including key corridors such as South Africa, the United Kingdom and the United States.
The partnership marks a significant step for POSB as it expands its digital financial services and strengthens cross-border payment capabilities for individuals, families and small businesses that rely on international transfers for education, medical expenses and trade.
By leveraging Mastercard’s global payments network, the bank says the platform is designed to offer faster processing times, enhanced transaction security and improved reliability compared with traditional remittance channels.
The move also reflects growing demand for formal, regulated international transfer solutions as Zimbabwean banks modernise their systems to meet customer expectations for digital, real-time financial services.
