FIRESIDE

Steps to cash out for ZASH vendors

To our ZIMBOCASH Family

We trust that the year has started off well for you!

What has been brewing?

Many of you have been waiting for an update. You asked, and we have been listening.

At the end of last year, we told you that we were working on a partnership that we were excited to announce. It is not complete yet, but we can give you a bit more detail now. We are building our vendor cash-out strategy.

The problem with two-sided markets

When we talk to our subscribers, the number one question we get from people is — “Now that I have signed-up, what can I do with my ZIMBOCASH? Are there any ZASH vendors?”

And when we talk to vendors, they say, “How can I cash-out my ZIMBOCASH to restock the stores?

It is the classic chicken and egg problem of all two-sided markets. Buyers need sellers and sellers need buyers. Without both sides, the market does not exist.

Every vendor we have spoken to has said that if we enabled cash-out, that they would use ZASH as a means of exchange. Every. Single. One.

The stories are similar to what this farmer had to say

“At one point and time I raised the issue that I am an oyster mushroom farmer.

I sell my produce in usd as well as bond notes and RTGS. The biggest and most obvious challenge with accepting Zimbabwean local “currencies” is the highly ignored creeping hyperinflation. In October 2021 I made sales worth 400usd and had to travel to a no network zone where I could not access my ecocash or internet for 2 straight weeks. When I came back to network able civilization exactly 14 days later, my money was worth 115usd.

As well, because of a lack [of] coins, it is tedious having to frequently be working with bond notes to work out 50cents change.

I charge 50cents a punnet and someone decides to buy 7. Also, I really do not want to continue handling money unnecessarily in these covid times.

If ZASH can become a fluent in and out business friendly medium rather than a time-capsule money vault, it would be an amazing step forward.

And yes, I have since shared my eagerness to accept ZASH as payment and sell my vegetables at integral prices. However it becomes just a dream if I cannot get vendor access to usd after selling my goods in ZASH.

There has to be a way for my business to continue thus encouraging a growing confidence in both sellers and end users; which is equal to a growth in transaction and value the more vendors grow…”

We have heard your input and we are looking to enable cash-out for verified vendors. We will be piloting in one township in the country first and will be assessing the feedback from there.

We are in discussions with an agent who will facilitate the cash-out, and we are building our operations appropriately.

**Last time to verify if you have unverified accounts**

As part of the vendor cash-out plan, we are streamlining our subscriber base. If you have previously signed-up but have not verified your ID, you have a limited time to do so. Once we open up for the diaspora, we will set a date and any ZASH or rewards relating to unverified accounts will fall away after that date.

We will keep you posted regarding the dates. If you have not yet verified your account with your ID, passport or drivers licence, you will need to do so to keep your previous ZASH allocations.

If you verify your account after the date, you will receive the 400 ZASH sign-up reward, 40 ZASH for successful referrals, as well as, 0.4 ZASH for each unique click you get when you share your user link, and 100 ZASH when you pay someone and it is their first time to receive payment.

We want to hear from you

This is no easy feat, we need your help! We are gathering information about which vendors will be appropriate for the program.

If you want to be included in this program, please take 5–10 minutes of your time to fill out the vendor questionnaire in the link below.

www.zimbo.cash/vendorquestions

You will also need to have verified your account. To do so, please go to

www.zimbo.cash/login

If you have not yet signed-up, please go to

www.zimbo.cash/register

Kind regards

The ZIMBOCASH Team

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