ZIPIT is designed to focus on real-time small transfer amounts with low transfer costs. There are two sides to the ZIPIT platform:
1) SENDING - This is when a user initiates a transaction and wishes to send funds to another member institution
2) RECEIVING - This is when a beneficiary customer receives funds that have been sent from another member institution ZIPIT transactions are made available through the following initiating channels:
Mobile - via USSD or Mobile app Online
POS - Any Point of Sale device running a suitable ZIPIT application
ATM - where the necessary software has been installed.
Online banking through the internet
THE FOLLOWING OPTIONS ARE AVAILABLE:
1. ZIPIT to Bank - transfer from a bank account to another bank account
2. ZIPIT Bank to Wallet - transfer from bank account to a wallet (currently Telecash & OneWallet)
3. ZIPIT Wallet to Bank - transfer from Wallet to bank account
4. ZIPIT to Mobile - transfer from a bank account to any mobile number.
To Customer:
On line, real time, payment to specified account at another FI
Affordable cost
Reduced need to handle cash ZIPIT LIMITS
ZIPIT LIMITS
There is no minimum, one can send any amount.
Maximum amount is $10 000-00 per transaction.
One can perform a maximum of 5 ZIPIT transactions per day.
N.B other banks terms and conditions apply.
