Zimbabwe: customers are more into online payments as cash shortages prolong

Tuesday 20 January 2015 00:07 CET | News

The Reserve Bank of Zimbabwe has revealed that Zimbabweans are turning to online payment systems as the country continues to suffer from cash shortages, reports.

Although the total value of transactions processed through the National Payment System (NPS) declined by 7.15%, to reach on 9 January 2015, at USD 1 billion, transactions processed through the Real Time Gross Settlement (RTGS) system amounted to USD 825 million.

As such, RTGS payments overtake the NPS, eith 81.9% of the total value of transactions processed through the system. Automated Teller Machines (ATMs), Point of Sale (POS) and cheque transactions, accounted for 8.5%, 6.6% and 2.8%, respectively.

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Keywords: Zimbabwe, Customers, online payments, payments processor, shortage, cash, coins, government, regulation, RBZ
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce