Zimbabwe negotiates digital payment infrastructure with NPCI International

Zimbabwe is in negotiations with NPCI International Payments Limited to develop a shared payment infrastructure designed to connect commercial banks, mobile money operators, and fintech providers. Reserve Bank of Zimbabwe Governor John Mushayavanhu stated that discussions could conclude by October 31.

The proposed system aims to model India’s Unified Payments Interface (UPI), which enables instant account-to-account transfers via mobile applications and QR codes. By creating a single interoperable network, the initiative seeks to reduce transaction costs, accelerate money circulation, and eliminate isolated, incompatible payment systems.

Beyond domestic efficiency, the technology could allow banks to offer cheaper services to merchants and reduce reliance on cards for low-value transactions. Mushayavanhu also noted that the system could eventually facilitate cross-border and remittance payments while providing the government with more accurate data on the economic contributions of small and medium-sized businesses.