Zimbabwe taxes mobile money transactions

Tuesday 21 January 2014 08:48 CET | News

Zimbabwe has introduced a USD 0.05 tax per mobile money transaction, bringing the fee into line with taxes on the countrys ATM and POS transactions.

According to online media outlet, the government tax introduction comes after a dispute between Zimbabwes banks and EcoCash, a mobile money service with 3 million customers that is operated by telecom operator Econet Wireless. Econet had allegedly refused to open Ecocash for integration with the banking system in Zimbabwe, which had led to the banks asking Zimbawes Central Bank to create regulation for an open playing field.

In September 2013, start-up payments provider Pay4App rolled out an API to allow other Zimbabwe-based start-ups to accept online payments using EcoCash mobile money transfer platform.

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Keywords: Zimbabwe, taxes, mobile money transactions, ATM, POS transactions, EcoCash, Econet Wireless, Zimbawe Central Bank
Categories: Payments & Commerce
Countries: World
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