HARARE — BARD Santner Incorporated, a leading financial intermediary specializing in asset management, corporate finance, and wealth management, has launched a new money remittance platform, TX Money Transfer. The platform aims to offer “reliability, transparency, and efficiency” as its core value propositions.
TX Money Transfer intends to enhance reliability and transparency in charges to avoid hidden costs, while promoting collaboration to remove sector bottlenecks that make sending money easy but receiving it difficult due to end-of-value-chain delays.
At the launch event held at the Holiday Inn Hotel in Harare, TX Money Transfer Executive Director Lucia Chingwaru emphasized the company’s commitment to providing quality and reliable service. “Our main objective is to bridge existing gaps in the remittance sector by offering a reliable, transparent, and integrated service,” said Chingwaru. “We need to study the current system with existing players to remove bottlenecks and ensure smooth service for our clients and good returns for businesses.”
Chingwaru highlighted the importance of transparency in the remittance process to inform clients about charges and hidden costs. She also stressed the need for emerging players to collaborate with established ones to create “last mile” payment solutions in areas where receiving money is problematic.
The new service aims to identify and eliminate process chokeholds, supply chain disruptions, capacity constraints, and other issues that undermine productivity. “Technology can help address these issues through automation and artificial intelligence, increasing capacity, reducing lead times, and improving efficiency,” Chingwaru said.
The launch event featured a vibrant celebration at Africa Unity Square in Harare, with plans for a roadshow across major cities, including Bulawayo. As part of its marketing drive, TX Money Transfer will offer gold coin prizes worth US$100,000 through raffle draws until the end of the year.
The remittance business in Zimbabwe’s competitive financial services sector is expanding rapidly, generating billions in local, regional, and international transfers. Fintech companies are increasingly helping businesses and individuals manage their financial operations with improved and efficient payment solutions.
Chingwaru noted that the remittance industry in Zimbabwe is plagued by physical cash outflow challenges at collection points, such as system failures, insufficient funds, long waiting times, and undisclosed charges. “TX Money Transfer directly addresses these concerns by focusing on the final stage of the value chain – the collection points,” she said. “Our commitment is to identify the root causes of these challenges and work towards resolving them to ensure reliability and transparency.”
TX Money Transfer offers a flat 3% fee structure, providing clear and predictable costs for clients. Chingwaru also discussed the market fragmentation, where multiple remittance services deliver funds to the same destination, leading to inefficiencies and increased costs. She emphasized the need for partnerships with other providers to streamline processes and reduce transaction costs.
“We are currently offering this service to InnBucks and finalizing similar agreements with other key players in the market,” Chingwaru said. “This strategy ensures timely and secure fund transfers for customers while reducing costs.”
TX Money Transfer aims to differentiate itself by ensuring value addition and quality through efficiency and reliability. “Clients require a dependable service at a reasonable price, especially in emergencies,” Chingwaru stated. “Our brand commitment revolves around reliability and differentiation, setting us apart in a market characterized by inconsistencies and undisclosed fees.”
“In conclusion, join us in reshaping the standards of financial services. Together, through collaboration, innovation, and a shared commitment to excellence, we can pave the way for a brighter future,” Chingwaru added.
