PayNow is just a payment gateway, they do not hold on to money they simply facilitate the transaction from the payer into your account. Unlike PayPal where you can keep your money in their system and use it from there, a payment received through PayNow will simple receive the money and deposit it directly into your bank account.
They can receive payments from:
ZimSwitch Vpayments: Vpayments is an online payments platform run by ZimSwitch and is currently accepting payments from customers banked at CABS, CBZ, FBC Bank, POSB, Trust Bank and ZB Bank.
Visa / MasterCard: Both locally issued Visa / MasterCard cards and international Visa / MasterCard Debit and Credit cards will work on Paynow. Zimbabwean banks with Visa / MasterCard support include Barcleys, EcoBank, FBC Bank, Kingdom, NMB, Standbic, Standard Chartered, Steward Bank and others.
EcoCash: Paynow will accept payment from any registered EcoCash line.
OneMoney: OneMoney registered customers can make payment on Paynow.
TeleCash: TeleCash registered customers can make payment on Paynow.
How and when do you receive your money:
Paynow will settle your transactions, less fees into any Zimbabwean bank account. You do not need a special merchant account and do not need to complete any forms with your bank, simply register your settle account details with Paynow to start receiving payments.
In the case of locally switched payments (Ecocash, Telecash, OneMoney and Vpayments), settlement will be executed one day after the payment is made or the funds clear escrow/Buysafe. Local Visa / MasterCard funds will be settled two days after the payment date and foreign Visa/Mastercard payments will settle three days after the payment is made. Settlement cut off time is 8pm, payments processed after that may be delayed till the next day settlement.
All non-Verified Merchant accounts will have funds settled once per week on a Tuesday.
How much does it cost?
Paynow has no signup or usage fee, the only charge is a per transaction commission. Please view the Fees page for more information. As the merchant you have the option whether to absorb the fees, add them on top of the transaction amount or split the fees with the customer. Large volume customers can approach Paynow directly for a bulk commission discount.
For more information on using the PayNow service you can visit this page: https://www.paynow.co.zw/Home/MerchantTutorial
They offer a WordPress plugin, a Shopify plugin, HTML buttons you can add to web pages or in emails that will take people to an online form where they can make payment using one of the above options.
Using PayNow is the easiest way to receive payments.
While PayNow can give you the ability to receive payments simply, it does not work for you to receive payments from online platforms such as youtube, ebay, amazon, fiverr, or any similar platform. They will simply help individuals locally and internationally to purchase directly from you using local payment platforms or international Visa and Mastercard cards. The also do not work with international bank transfers, and you cannot receive payments from PayPal, only Visa and Mastercard Cards.