BancABC Zimbabwe, the local banking subsidiary of Pan African group, Atlas Mara has partnered Mama Money to launch Border Hopper, an international remittance service that allows Zimbabweans abroad to send money home.
The service is available at all 18 BancABC branches countrywide and through the BancABC kiosks in 40 Pick n Pay stores. Plans are at an advanced stage to open the service up to all Pick n Pay stores nationwide to increase the collection points across the country.
Speaking at the launch of the product, BancABC CEO Dr. Lance Mambondiani said, “Pleased to announce our international remittance platform, Border Hopper, in partnership with Pick n Pay & MamaMoneySA. Zimbabweans in SA can now send money to loved ones from any MamaMoneySA agents, including Pick n Pay stores in SA for collection at our kiosks in PnP Zim”.
The service is available to all customers whether they bank with BancABC or not. Any person can walk into a Pick N Pay or Mama money and transfer as little as US$10. The sender is simply required to provide an address, phone number, and I.D number on the deposit slip. The receiver can access the transferred funds instantly, all he or she has to do is go to an agent outlet and provide a reference number and a copy of his/her national I.D to cash out the funds.
“Border Hopper is an extension of our hugely popular City Hopper product (a local remittance solution launched last year). In developing Border Hopper, we wanted a quick and easy ‘in-store’ remittance solution that is competitively priced (charges are currently btwn 2-5%).” DR lance added.
The service will provide much needed relief in the movement of USD across the country especially for the unbanked population who have difficulties sending or receiving USD for some essential services demanding USD payments from some service providers.
