A financial middle-ground company called Bard Santner Incorporated, which focuses on asset management, business finance, and wealth management, has launched a new money transfer platform called TX Money Transfer. The company wants to fill in the gaps in the money transfer market by offering “a transparent service.”
Zimbabwe’s remittance industry is currently based on sending and receiving cash. The need for cash transactions creates some problems at the collection point, but TX Money Transfer will solve these problems by focusing on the collection points, which are the last part of the value chain.
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TX Money Transfer: Transforming the Remittance Landscape in Zimbabwe
Lucia Chingwaru, executive director of TX Money Transfer, said at the launch, “The main goal is to fill existing gaps in the remittance sector by providing a reliable, transparent, and integrated service. By using TX Money Transfer, we guarantee the availability of funds for disbursement and promise no hidden fees.”
The flat 3% fee structure gives clients a predictable cost. She stated that fragmentation in the remittance sector causes redundancy. Multi-remittance services often send cash similarly, causing inefficiencies and higher transaction costs. TX Money will engage with other remittance providers to help them disburse as part of the value chain and address these issues.
“These collaborations will facilitate economies of scale, streamline processes, and consolidate efforts. This approach will enable other remittance providers to offer services more efficiently and reliably to their customers. We are currently offering this service to InnBucks and finalising similar agreements with other players in the market. This strategy reduces costs and ensures timely and secure fund transfers for customers,” she added.
TX Money Transfer works with Edgars and Jet shops nationwide as a partner.
Pathiso Ncube, Managing Director of Club Plus Microfinance, a part of Edgars Stores Zimbabwe, told FinX they handle cash in and out for TX at all Edgars and Jet stores. While Bard Santner’s work is mainly in Zimbabwe, it includes Botswana, South Africa, Zambia, and other nearby countries. It also includes Mauritius, the UK, and the US.
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About BARD Santner
BARD Santner is a pioneering financial services firm in Zimbabwe that provides innovative investment solutions. As a boutique investment bank, BARD Santner specialises in asset management, advisory services, and investment banking.
The firm promotes financial inclusion and economic growth through specialised financial products for individuals and institutions. Through research and market analysis, BARD Santner uses local expertise and worldwide best practices to create robust financial strategies.
The firm’s commitment to ethical practices and sustainability underscores its mission to drive growth and prosperity in Zimbabwe’s financial sector. BARD Santner supports the country’s economic resilience and expansion through its comprehensive services.