Stanbic Bank Unveils StanPay in Push for Financial Inclusion
By Desire Tshuma
Harare – Stanbic Bank Zimbabwe has launched StanPay, a mobile wallet and digital financial services platform aimed at making payments, money transfers and cash withdrawals easier and more accessible to Zimbabweans.
The bank says the platform was developed as a local remittance and digital financial solution, with particular focus on improving access for people who have traditionally been underserved by formal financial services.
Stanbic Bank Head of Digital and E-Commerce Banking, Ngoni Phillip Sandengu, said StanPay was designed to respond to the everyday financial needs of Zimbabweans through a simple and accessible platform.
“StanPay is by no means the first in the market. However, we believe that we have built StanPay to become the best-in-market solution,” Sandengu said.
The platform allows users to make payments, transfer funds, purchase goods and services and pay bills without relying solely on conventional banking channels.
One of its key features is cash withdrawal through Stanbic Bank’s network of 55 ATMs across Zimbabwe. Users can generate a cash voucher directly from their mobile phones and withdraw money without needing a bank card.
According to Sandengu, StanPay customers can access the service by dialling _247# or downloading the Blue247 App from the Google Play Store or Apple App Store.
Zimbabweans with a national identity number can reportedly open a StanPay wallet within minutes and free of charge. Once registered, users can transfer money into their wallets, generate cash vouchers, withdraw money from Stanbic ATMs or conduct transactions digitally.
The bank said StanPay will also operate around the clock, allowing users to withdraw cash 24 hours a day, seven days a week, while facilitating digital transactions through the _247# platform and Blue247 App.
Sandengu said the platform had been deliberately simplified to ensure that users can navigate their financial transactions with ease.
“StanPay was built with both the formal and informal Zimbabwean markets in mind and is designed to support the transactional needs of every Zimbabwean,” he said.
The platform already has more than 20 billers and service providers, including ZESA, TelOne, ZOL, Econet and NetOne, giving users access to a range of payment services from one platform.
Sandengu said beneath the simplicity of StanPay was a secure and dependable system designed to give customers confidence when handling their money.
The launch marks another step in Stanbic Bank’s efforts to expand digital financial services in Zimbabwe as mobile wallets and cashless transactions continue to reshape the way consumers access and move money.
