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POSB Remit Outbound service powered by Mastercard Move enables Zimbabweans to send money to 21 international destinations seamlessly, quickly, and securely.
Harare, Zimbabwe – 4 February 2026: The People’s Own Savings Bank (POSB) has announced a strategic collaboration with Mastercard to launch POSB Remit Outbound. The service aims to provide a fast, secure and cost-effective way for customers in Zimbabwe to send money directly to bank accounts, mobile wallets and cash abroad.
Powered by Mastercard Move, a portfolio of global money movement capabilities, the service delivers a simple, transparent and fast way to send funds to 21 international destinations, including South Africa, the United Kingdom, the United States, Canada, India, Australia and countries within Europe’s SEPA region.
The launch of this service responds to a growing need for reliable outbound money transfer solutions, which play a vital role in supporting cross-border mobility, trade, and investment. As Africa becomes more integrated into the global economy, outbound payments are increasingly important for individuals and businesses to manage education expenses, medical payments, family support, and commercial transactions abroad.
POSB Remit Outbound addresses this market gap by enabling outward remittances through a trusted, accessible channel. The service is available at all POSB branches nationwide, with transfers starting from as little as USD 5. Funds are credited directly into recipients’ bank accounts, mobile wallets or cashout agents, helping individuals and small businesses connect to the global economy safely and seamlessly.[1]
Through this collaboration, POSB aims to make it easier for Zimbabweans to support loved ones, pay for education, or manage business commitments abroad, expanding digital financial inclusion in Zimbabwe and across Africa.
Garainashe Changunda, Chief Executive Officer of POSB, said: “POSB Remit Outbound underscores our strategic collaboration with Mastercard to advance financial connectivity for Zimbabweans. By enabling seamless global transactions, we reaffirm our joint commitment to driving convenience, digital inclusion, and innovative payment solutions across borders.”
Gabriel Swanepoel, Country Manager, Mastercard Southern Africa, said: “At Mastercard, we are building the infrastructure that powers inclusive global money movement. By combining Mastercard Move’s innovative money movement solutions and extensive reach with POSB’s trusted local presence, we are enabling Zimbabweans to move money securely and transparently, with the choice and speed they need to thrive in today’s connected economy.”
Mastercard Move spans 200 countries and territories, supporting transactions in over 150 currencies. It connects to nearly 10 billion endpoints and provides access to more than 95% of the world’s banked population, giving users confidence, control and flexibility in how they move money across borders.
About Mastercard
Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we are building a resilient economy where everyone can prosper. We support a wide range of digital payments choices, making transactions secure, simple, smart, and accessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatest potential.
Mastercard Contact
Troy Mocheko
Communications Director, Southern Africa
Email: [email protected]
Telephone: 066 553 9999
About POSB
The People’s Own Savings Bank (POSB) is Zimbabwe’s only 100 percent homegrown savings bank that has served the nation by providing quality, affordable and accessible banking services for over 120 years. Formerly the Post Office Savings Bank, POSB was established in December 1904 as a statutory fund to mobilise savings for national development. From January 1905 until 1965, the Bank conducted its operations through the Post Office infrastructure network. In 1965, the Post Office Savings Bank Act {Chapter 249} was promulgated, thereby providing for the administration of the Savings Bank by the Posts and Telecommunications Corporation (PTC) on an agency basis. Finally, in 2001, the People’s Own Savings Bank of Zimbabwe Act (Chapter 24:22) was promulgated. This Act effectively established POSB as a corporate body, separate from PTC. Learn more about POSB at www.posb.co.zw and follow us on Facebook, Twitter, Instagram, and LinkedIn (@POSBZimbabwe).
POSB Contact
David Makacha
Public Relations Manager
Email: [email protected] or [email protected]
Telephone: 263 242 79381
[1] The availability of endpoints may vary by market.