Meikles Financial Services is an African financial services provider and its newly introduced card represents a bank account and offers service inside TM Pick n Pay and outlets in Zimbabwe. It allows mobile money transactions, including transfers, utility payments, and savings, in addition to other regular banking services.
MyCash is capable of handling ZIPIT (which stands for ZimSwitch Instant Payment Interchange Technology) transactions, meaning that it allows inter-bank funds transfer from Zimswitch gateway. MyCash Card holders can make instant transfers of up to USD1,000 to any account at another bank using ZIPIT. Sending will attract a 1 USD charge, while MyCash Card holders will receive ZIPIT transfers for free.
Additionally, in order to achieve a cashless shopping experience in TM outlets, MSF plans to launch a website to go along with this card scheme, according to techzim.co.zw.
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