Case Studies

Meikles Financial Services (MFS)

The Meikles Group of Zimbabwe, majority shareholder in TM Supermarkets, Pick n Pay and Meikles Mega Market, implemented the entire V-Suite through a cloud-service Postilion – a “Bank in a Box”! The result has been remarkable.

MyCash process chart

Effectively building the country’s first “Retail Bank”, MFS launched the “MyCash” product. Licensed as an ADLA and partnered with POSB, MyCash is all of the Africa-centric services from a traditional bank combined with the convenience and “light weight” nature of Mobile Wallet accounts. The first MyCash Kiosk was launched in August 2015. By January 2016 MFS was already generating over US$11 million worth of monthly turn over.

MyCash growth chart

The MyCash card launched at the end of February 2016 and is expected to sign up over one million customers before the end of the year. |