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Paynet Suspends Service to Zimbabwean Banks

For the second time this year, Paynet Zimbabwe has suspended service to Zimbabwean banks over non payment of fees. Visit the Paynet website today, and you will notice that all the banks there are marked as suspended.

Paynet Zimbabwe has suspended services to Zimbabwean banks

What does this mean?

So, what happens when Paynet Zimbabwe suspends service to Zimbabwean banks? Well, it simply means that most companies, including the government, will not be able to pay their workers their salaries. That’s because Paynet is the system that’s used to transfer salaries across the Zimbabwean banking sector!

Pensioners are are among the people who are likely to suffer as a result of the Paynet dispute. It has since been revealed that NSSA, the country’s social security, will not be able to process pensions on time due to the Paynet issue.

What’s likely to happen now that Paynet Zimbabwe has suspended its services?

The government of Zimbabwe is likely to wish to limit the damage that accrues from a suspension of Paynet’s services. It is likely, therefore, that the RBZ will soon make the payment to Paynet.

What does it show?

The issue with Paynet simply indicates that the country continues to struggle with forex shortages. That the government is no longer prioritizing such essential services as Paynet is rather telling.

One remembers the issue of the Harare City Council which has been having trouble forwarding payments for it’s system to a South African vendor.

It’s a pity that we do not have people in the country who are capable of coming up with these types of enterprise softwares. Otherwise we wouldn’t have all these problems. Even big institutions such as the RBZ and banks should not have to hire software from South Africa. Don’t we have programmers in this country? Anyway, hope Paynet Zimbabwe restores it’s services.

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