Monday, November 28, 2022

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Is InnBucks hinting at a comeback?

Mobile Online Payment system Innbucks which was launched by fast food retail giant Simbisa Brands has hinted at a comeback.

 

The money transfer service was banned this April by The Reserve Bank of Zimbabwe (RBZ).

The platform grew in popularity at its launch as it allowed customers to deposit US dollars of up to US$ 200 into their Innbucks accounts which would then be used to purchase from any of the Simbisa outlets nationwide, redeem the cash, or send to anyone else registered with Innbucks.

In announcing the ban the RBZ noted that in November 2021, the Bank directed InnBucks to apply for and obtain necessary approvals in order to continue offering the service but the company had not yet regularised the service as directed, hence the regulatory intervention by the Bank.

Around lunchtime today the company posted a video on their Twitter account which seem to suggest that the service may be making a comeback, presumably after meeting the RBZ demands.

They tweeted: ” loading August 2022. We’re coming back. Bigger. Better. Stronger”

The message was greeted with enthusiasm from its various users who reminded each other of the convenience the service brought to their lives in the short time it was in operation.

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