Omanghana
Zimbabwe’s central bank is negotiating with NPCI International Payments Ltd to modernize its digital payments network, aiming to make transactions faster and more affordable.
The proposed partnership, reported on October 5, 2026, would connect banks, mobile-money operators and fintech companies through infrastructure based on India’s Unified Payments Interface.
Reserve Bank of Zimbabwe Governor John Mushayavanhu told Bloomberg that negotiations could conclude by October 31. That date concerns completion of the talks, rather than the launch of the proposed system.
The initiative would support Zimbabwe’s efforts to improve connections between payment providers. A March 2 central bank circular directed financial institutions to align their platforms and merchant services with common QR-code standards.
A shared network could simplify everyday transfers and retail payments. However, authorities have not disclosed an implementation budget, launch timetable or customer charges. The scale of any savings will depend on the eventual pricing structure and participation of financial service providers.
NPCI International, the overseas arm of the National Payments Corporation of India, has already entered a similar partnership in Southern Africa.
On May 2, 2024, it signed an agreement with the Bank of Namibia to help develop a domestic instant-payment system modelled on UPI. That project aims to improve access, affordability and compatibility across payment networks while supporting transfers between individuals and payments to merchants.
The Namibian agreement illustrates India’s growing role in helping other countries build domestic digital payment infrastructure, extending its international payments activities beyond services used by Indian travelers.
Source: Omanghana
