InnBucks added as payment channel on VFEX direct

Leafias Mazviro

The Victoria Falls Stock Exchange (VFEX) has added InnBucks Microbank Limited as a payment channel on VFEX Direct with effect from August 1, 2023.

VFEX Chief Executive Officer, Justin Bgoni said, in a statement, the addition of InnBucks on Vfex Direct will enable retail investors to top up their wallet through the InnBucks mobile app or USSD code.

“Our aim as VFEX is to ensure convenience to our clients, and we are always striving to evolve and add services that can make the investment journey for our clients smooth.

“With the addition of this service, VFEX Direct clients will now conveniently fund their wallet, and the funds reflecting for trading much quicker. The minimum top up amount for investing on VFEX through InnBucks is US$10 (excluding transfer charges),”Bgoni said.

Bgoni said investors have to have an active Vfex Direct account, active InnBucks account and have to link their Vfex Direct account with InnBucks account in order to enjoy the services.

“The VFEX appreciates the support and valuable feedback from stakeholders. We will continuously strive to develop initiatives on VFEX Direct that promote financial inclusion and retail participation.”

About VFEX Direct “VFEX Direct is an online trading platform of the Victoria Falls Stock Exchange Limited (“VFEX”). VFEX Direct provides retail investors with an easy and convenient way to buy and sell securities listed on VFEX.

“VFEX Direct is accessible through the web portal (www.vfexdirect.vfex.exchange) and mobile application (Play Store and Apple App Store).

“VFEX Direct is meant to make investing on VFEX easier and simpler and some of the key features on the platform include a user friendly interface, a view of one’s portfolio, latest market statistics, and the acceptable price range for each security,” he added.

About InnBucks

“InnBucks is a cutting-edge mobile payment solution developed by InnBucks MicroBank Limited with the goal of offering simplified financial services
to Zimbabweans from all walks of life.

“InnBucks’ value proposition is premised on offering flexibility to customers as well as comprehensive and seamless solutions to merchants through convenience and maximum efficiency at a minimum cost.”

Bgoni said customers can effortlessly deposit or withdraw cash, enjoy discounted payments for goods at any Simbisa Brands Outlet nationwide, carry out transactions through selected agents- all at an affordable cost. Moreover, one can enjoy the ease of buying US dollar airtime, at discounted rates, directly from their mobile phones.

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